Why/how is Vite set up as a zero-gas Layer-1?
Layer-1 refers to a fundamental blockchain protocol/infrastructure, on top of which smart contracts, digital assets, and decentralized applications may be deployed. #0GL1 means that transactions on the Vite blockchain network incur no gas fee👇💡
Functionally, developing technologies and doing business on the Vite network is cheaper than on other networks. This cost-effectiveness lowers the barrier for people to experiment with blockchain technologies and de-risks many aspects of participating in Web3.
On nearly all L1 blockchains including Ethereum, gas is required to execute transactions. Simpler transactions cost less gas than more complex transactions (e.g. smart contract calls). When coins become more expensive, gas fees soar. In a sense, development costs and transactional expenses on most L1 blockchains get pricier with an increase in adoption.
So, how does Vite achieve zero-gas? To answer this question, think about why gas exists in the first place. There is no gas cost in tweeting or emailing. So, why is there gas for transactions on L1 networks?
All else being equal, having no gas is a better design, because it more closely mirrors user habits in the Web2 world. If blockchains want mass adoption, gas can be a serious impediment because people are unaccustomed to paying fees when using the internet — especially for daily mundane actions.
To learn more, stay tuned for Part 2 of this article and an overview of Vite’s economic model.
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