Vector Smart Chain Appoints Ex-CitiGroup CFO and Introduces Fixed $4 Gas Fee

Vector Smart Chain (VSC), a Layer 1 blockchain protocol, has made two strategic moves to bolster its position in the crypto space. The network has implemented a fixed $4 gas fee model, breaking away from the industry’s volatile transaction costs. This flat-rate structure aims to provide predictability and accessibility for users.

In a significant leadership coup, VSC has appointed Peter Ritchie, former Chief Financial Officer of CitiGroup Finance, as Strategic Finance Executive Consultant. The appointment signals VSC’s ambition to bridge blockchain innovation with institutional-grade financial expertise.

These developments come as LAYER 1 protocols increasingly compete on both technical merits and financial sophistication. VSC’s fixed-fee model challenges the status quo of fluctuating gas prices, while its high-profile hire underscores the growing convergence between traditional finance and blockchain technology.