Viction Price VIC

Viction (VIC) is the native utility token of the Viction blockchain, a high-performance, EVM-compatible layer-1 network designed for mass adoption with a focus on zero-gas transactions for users.

Key takeaways

• Viction is a scalable, EVM-compatible layer-1 blockchain formerly known as TomoChain.
• Its core innovation is the use of Proof-of-Stake Voting (PoSV) consensus, which enhances security and decentralization.
• The network features zero-gas transactions for end-users, with developers covering network fees.
• VIC is used for staking, governance, and paying for developer-initiated transaction fees on the network.
• Viction aims to be a foundational platform for building user-friendly Web3 applications.

What is Viction? Key Specifications & Tokenomics

Viction is a public blockchain platform that combines high throughput, Ethereum compatibility, and a unique economic model to foster mainstream decentralized application (dApp) adoption.

Who created Viction (VIC)?

The Viction blockchain was originally launched as TomoChain in 2018 by a team of experienced entrepreneurs and developers, including Long Vuong, who was also a co-founder of the NEM blockchain project. The project was developed to address scalability and cost issues prevalent in earlier blockchain networks like Ethereum. In 2023, TomoChain underwent a major rebranding to Viction, signaling a strategic shift towards building a blockchain for "mass adoption" with enhanced user experience. The development and governance of the network are now primarily overseen by the Viction Foundation and its decentralized community.

How does Viction (VIC) work?

Viction operates on a unique consensus mechanism called Proof-of-Stake Voting (PoSV). This system is designed to be more democratic and secure than traditional Proof-of-Stake.

• Consensus (PoSV): VIC token holders can stake their tokens to become candidates or vote for other candidates to become Masternodes. A set of 150 Masternodes is elected to validate transactions and produce new blocks. This structure ensures decentralization and security.
• Zero-Gas for Users: A standout feature is its zero-gas fee model for end-users. When interacting with dApps, users do not pay transaction fees. Instead, developers pre-pay for gas in VIC tokens to sponsor these transactions, removing a significant barrier to entry for new users.
• EVM Compatibility: Viction is fully compatible with the Ethereum Virtual Machine (EVM). This allows developers to easily port their existing Ethereum smart contracts and dApps to Viction with minimal changes, leveraging its higher speed and lower cost structure.
• High Performance: The PoSV consensus and Masternode architecture enable the network to achieve high throughput (over 2,000 TPS) with a 2-second block time, making it suitable for high-demand applications.

What makes Viction (VIC) unique and valuable

Viction distinguishes itself through a combination of user-centric design and robust technology.

• Zero-Gas User Experience: By eliminating gas fees for users, Viction directly tackles one of the biggest pain points in Web3. This model can drive mainstream adoption by making dApps as frictionless as traditional web apps.
• Proven PoSV Consensus: The Proof-of-Stake Voting mechanism has been operational for years, providing a stable and secure network. It encourages active participation from the token holder community in network governance and security.
• Strong Developer Appeal: Full EVM compatibility means a vast pool of Ethereum developers can build on Viction immediately. The developer-pays gas model also allows dApp creators to design better user onboarding flows.
• Rebranding and Vision: The transition from TomoChain to Viction reflects a clear, forward-looking vision focused on becoming the foundational layer for the next billion Web3 users, moving beyond its initial technical roots.

What is Viction (VIC) used for?

The VIC token is integral to the security, operation, and growth of the Viction ecosystem.

• Staking and Securing the Network: Users stake VIC to participate in the PoSV consensus, either by becoming a Masternode candidate or voting for candidates. This process secures the blockchain and earns staking rewards.
• Governance: VIC stakers have voting rights on key protocol upgrades, parameter changes, and ecosystem fund allocations, participating in the decentralized governance of the network.
• Developer Gas Fees: Developers need to hold and spend VIC tokens to pay for the network fees (gas) of the transactions they sponsor for their dApp users. This creates a fundamental demand for the token.
• Transaction Fees: For non-sponsored transactions or other network services, fees are paid in VIC.
• Ecosystem Utility: VIC is used across various dApps built on Viction for payments, rewards, and access to premium features.

How to buy VIC Coin?

VIC is a popular cryptocurrency listed on several exchanges. For a secure and smooth trading experience, we recommend using a major platform like BTCC, known for its high liquidity and robust customer support.

1. Register a BTCC Account: Sign up using your email or phone number and complete the KYC verification process to unlock all platform features and benefits.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. (How to buy USDT on BTCC)
3. Start Trading: Navigate to the trading section and search for the spot trading pair VIC/USDT or the perpetual futures contract VICUSDT.
4. Place an Order: Enter the amount of VIC you wish to purchase and submit your order. For futures trading, you can also choose to go short (sell) and adjust leverage according to your strategy and risk tolerance.
5. Confirm Your Purchase: For spot purchases, check your asset wallet to confirm the VIC tokens have been credited. For futures, check your open positions on the trading interface to confirm the order is active.