Vega Report by Jesse
Sideways is good, right?!? With Bitcoin bouncing between $41,000 and $45,000, things have been relatively quiet in the markets this week. Last Friday's 5-hour shakeout was a nice lesson in how fast these markets can move on sentiment alone. While not many winners overall this week, for big gains we have Decentralized Social at 80% and dYdX with 40% to certainly make some short-term holders happy. This week up to bat is a brand-new margin trading platform called Vega Protocol.
Vega is a protocol for the decentralized trading and execution of financial products. It is designed for fully automated, end-to-end margin trading on open public networks, backed by a proof of stake algorithm. Networks are secured with a byzantine fault-tolerant consensus layer and install pseudonymous margin trading using a novel market-based liquidity incentivization scheme to solve the problem of attracting and allocating market-making resources in a decentralized system. Vega nodes also read from other blockchains that are used for collateral, and post transactions to the Vega network when they recognize a deposit or withdrawal on that blockchain. Allowing Vega to support collateral from many blockchains, and cross-chain settlement. Vega’s trading core is a modular application with functional separation between various components that allow for maximum configuration, including selective use of a subset of components in permissioned deployments that don’t need the protocol’s full functionality. The separation between the blockchain and application means that Vega is blockchain independent, because the application layer can process valid, ordered transactions from any source. This allows Vega to migrate to a new consensus protocol if better technology becomes available. Blockchain independence also means that the Vega protocol and core implementation can be easily reused in
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