Newsletter 04–12–17

Followers of Vega,

It has been nearly a month since our last update. In that time, we’ve made incredible progress on the project and also have run across a few exciting developments. We hope to fill you in below.

A screenshot of the Vega repository on GitHub

Beginning with development, the last month has been both a productive and challenging time as we build out a MVP version of the platform. We’ve made solid progress on this front and hope to have a MVP version out for testing soon. We began the month with little more than basic ontracts, and we are now able to fully execute a crowd trade, from proposal to voting/funding to liquidation.

Beyond the MVP, we’ve started development on ‘underwrite’, a JavaScript API for Vega using web3, which will also be available as an NPM module. This API will make it easier for users to interact with our Ethereum contracts.

We’re also beginning to implement dapplesys to provide and element of robust and dynamic security to our contracts, helping prevent the loss of value in the event of system error.

Moving away from development, we’ve recently been studying the use of prediction markets for both corporate and public governance. As we’ve stated in another piece, prediction markets and the ‘wisdom of the crowd’ provided a lot of the inspiration behind Vega, and as such it has been critical to us that we implement some of the underlying concepts.

The most important piece of prediction markets, as we’ve gathered from our research, is incentive. The right incentives deliver the most accurate results by curating not only a large aggregate of knowledge, but also by specifically encouraging those with the right expertise to come forward. We’re working to fit these concepts to Vega, as we believe that they are critical to delivering the best results for our users.

Finally, we’re excited to announce that on April 18th, Vega developers William Russell and George K. Van Hoomissen will be presenting Vega to the Taipei Ethereum Meetup group in Taipei, Taiwan. If you’re located nearby, we hope you’ll join us — link here.