Blockchain startup Vega has launched the testnet for its protocol, which allows parties to build trading products on a decentralized network.
Over the last two years, Vega has been “working on building a protocol that allows people to deploy and run networks that can trade decentralized derivatives effectively,” Vega co-founder Barney Mannerings told Cointelegraph in an interview.
Vega received over $5 million during its 2019 funding round, seeing investments from players such as Pantera Capital and Ripple’s Xpring.
Vega opens its test network
Vega has launched a testnet for this software, offering partners and investors the opportunity for involvement before opening the offering to the entire community, Mannerings said. He added:
“Over the next few weeks and months we’re going to allow people to start using that test network to understand how that protocol works and to give us feedback on what’s been built, and that’s effectively part of a roadmap that leads up eventually to the release of a production-ready version of that software.”
The protocol allows folks to build trading products
Vega has its own blockchain, tailored for markets and trading products, offering participants the chance to launch trading products on something other than the currently-available broad spectrum blockchains.
Current blockchain’s such as Ethereum are not specifically made to host trading markets built on top of them. Vega’s blockchain specifically caters to this niche, according to Mannerings.
Vega’s solution is similar to Amazon’s AWS, but not really
Vega’s offering is essentially infrastructure software, Mannerings explained, although it is different than what Amazon Web Services, or AWS and others are doing in their brick and mortar-type offerings.
“AWS is operated by Amazon, whereas what we’re building is kind of like the node software that can be used to run that blockchain, but once it hits the production environment, that won’t be operated by us,”…