5 questions about Vega and answers

  1. What is Vega Wallet for?

Vega Wallet is an app. You can use it to manage your wallets and crypto key pairs. The key pairs are stored in an encrypted wallet file and the information can only be accessed with a passphrase. This ensures that you don’t have to manage the key pairs yourself or risk revealing your private key. When you use the Vega Wallet app to create a wallet, that wallet file and its configuration information is stored on your computer.
When you sign a transaction, you will be asked for a passphrase when you execute the transaction. Once the transaction is signed and sent using a Vega wallet, the transaction is sent to the validation nodes. The nodes then validate the signature using the signer’s public key and agree to execute the transaction, adding it to the block.

  1. How can I participate in decision management on the Vega network?

Vega token holders can create proposals that other token holders can vote to approve or reject.
In future versions, Vega will support proposals for creating markets and assets, proposals for changing network parameters, markets and assets, and freeform proposals for community suggestions.

  • Anyone with more than 0 tokens can vote.
  • Tokens used for voting are not blocked or transferred: they can be used for both staking and voting.
  • As long as the voting period is open, an open token can vote several times, but only the last vote will be counted when closing the proposal.
  1. What are the requirements for a validator running a node?

Validators must run a set of executables, each with its own resource requirements, so that the network can function under different workloads.
For a validator running a node, you can use the following guidelines when evaluating the required hardware

Снимок экрана 2022-07-12 132805

  1. What is Fairground?

Fairground is a Vega test network. It is built using the Vega protocol and gives people the opportunity to test how the protocol works without using real money. You can try trading on Fairground. Place an order, track your positions and learn the margin mechanism with Fairground.

  1. What is the main motivation for creating Vega?

Vega saw an opportunity to to expand the decentralized financial system beyond cryptocurrencies, tokenized assets and relatively slow general purpose smart contracts by adding a high-performance level of trading and execution of financial products. The Vega platform will open the door to a fairer and more accessible financial system that does not favor some groups or exclude others. Access would be open to all, and the creation of markets would no longer be dependent on central parties or organizations.