Viction

Viction (VIC): A Comprehensive Overview

What is Viction (VIC)?

Viction (VIC) is a layer-1 blockchain platform designed for enterprise adoption and real-world use cases. Originally launched as TomoChain, the project rebranded to Viction in 2023 to reflect its evolved vision and expanded capabilities. Viction aims to solve the blockchain trilemma by offering high throughput, near-zero fees, and robust security while maintaining decentralization. With its EVM compatibility, Viction (VIC) provides a seamless environment for developers transitioning from Ethereum.

How Does Viction (VIC) Work?

Viction (VIC) operates on a Proof-of-Stake Voting (PoSV) consensus mechanism, which enables fast transaction confirmation times and high throughput of up to 2,000 transactions per second. The network architecture includes:

• Masternodes that validate transactions and create blocks
• Smart contracts compatibility through EVM integration
• Cross-chain bridges for interoperability with other blockchain networks
• Layer-2 solutions for scalability enhancements

The Viction blockchain processes transactions in approximately 2 seconds, making it significantly faster than many competing blockchains while maintaining security and decentralization.

Staking and Validation in Viction (VIC)

Viction (VIC) supports staking through its PoSV consensus mechanism. Here's how it works:

• Masternode Staking: To become a masternode, participants must stake 50,000 VIC tokens. Masternodes validate transactions and receive block rewards in return.
• Delegation Staking: Token holders who don't have 50,000 VIC can delegate their tokens to masternodes and earn a portion of the rewards. This expands participation without requiring large token holdings.
• Rewards: Stakers can earn approximately 4-8% annual yields, depending on network participation and masternode performance.

It's important to note that Viction does not support traditional mining as seen in Proof-of-Work blockchains like Bitcoin. Instead, the energy-efficient PoSV consensus validates transactions and secures the network through staking.

What is VIC Used For?

The VIC token serves multiple purposes within the Viction ecosystem:

• Network Fees: VIC is used to pay for transaction fees on the network
• Staking: Used for staking to secure the network and earn rewards
• Governance: Token holders can participate in on-chain governance decisions
• DApp Ecosystem: Powers decentralized applications built on Viction
• Cross-chain Functionality: Facilitates transactions across different blockchain networks

VIC Token Distribution and Launch

When Viction launched (initially as TomoChain), the token distribution followed this structure:

• 55% allocated to the public ICO
• 15% reserved for the team and advisors (with vesting periods)
• 15% allocated to the company and future development
• 10% set aside for strategic partners and ecosystem development
• 5% for a bug bounty program and community rewards

The rebranding from TomoChain to Viction in 2023 involved a token swap, where TOMO tokens were exchanged for VIC at a 1:1 ratio. This transition maintained the original tokenomics while aligning with the project's new direction.

Additional Features of Viction (VIC)

Viction offers several notable features that differentiate it from other blockchain platforms:

• Enterprise Solutions: Customized blockchain implementation for businesses with privacy features
• DeFi Support: Native infrastructure for decentralized finance applications
• NFT Capabilities: Tools and support for creating and trading non-fungible tokens
• Low Environmental Impact: The PoSV consensus mechanism consumes significantly less energy than Proof-of-Work alternatives
• Sharding Technology: Implementation of sharding to improve scalability

Trading Viction (VIC) with Cryptohopper

Investors and traders can easily access Viction (VIC) through various cryptocurrency exchanges. For optimal trading efficiency, users can leverage Cryptohopper's automated trading bot to execute trades based on customized strategies. Cryptohopper supports VIC trading across multiple exchanges, allowing users to automatically buy, sell, and manage their VIC investments without constant manual monitoring. This automation provides opportunities for both beginners and experienced traders to optimize their VIC trading activities through advanced tools like technical indicators, trailing stops, and portfolio management features.

As Viction continues to develop its ecosystem and onboard more real-world applications, the VIC token represents an interesting opportunity within the blockchain space, particularly for those interested in high-performance, enterprise-focused blockchain solutions.