Vega Ico Review

Vega Ico Review – Network Managed Autonomous Decision-Making Agent

About Vega

The Vega Project is an effort to create a generalizable system which enables coordinated action for a group of participants based on the decentralized decisions of the individual participants who make up the group. The Vega system runs on the Ethereum network, using smart contracts to (a) enable each participant to make proposals to the group, (b) enable each participant to make choices with respect to proposals that have been made by other participants, and (c) track the impact of each participant’s decisions on the achievement of the group’s objectives over time.

Vega Key Information

KeyPoints
Token NameVega
ICO start25th Sep 2017
ICO end10th Oct 2017
Distributed in ICO60%
Average price0.35 USD
CountryUSA
AcceptingETH
Token SymbolALV
Token TypeERC20
RaisedUnknown
PlatformEthereum
Price in ICO0.3700 USD
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

The Game Change Team Behind Vega

Vega Ico Review - Network Managed Autonomous Decision-Making Agent

Problem

At its core, Vega is a system which utilizes distributed ledger technology (aka blockchain) – essentially database software running on the global, decentralized and distributed Ethereum computing platform – along with consensus rules and a carefully designed incentive structure in order to enable individuals to apply swarm intelligence to the pursuit of their shared objectives, harnessing the wisdom of the crowd to make decisions as a group for the purpose of maximizing the benefits to the individual participants.

Solution

Vega is essentially a system for effective digital democracy, which enables any group to manage itself strictly through the consensus of individual actors, provided only that the group is able to establish shared objectives which are clearly and unambiguously defined, precise metrics for assessing the group’s performance in achieving its objectives, and effective incentive structures which properly align the interests of individual participants with the shared interests of the group, all without any centralized control.

Taxes

Given that a jackpot repository must exist, Vega now describe the mechanism for funding it. A Company assume that a generous philanthropist deposits some initial funds into the repository, but thereafter Vega will be self-sustaining through taxes. Any Task Giver that calls a Vega contract must pay not only the cost of computational work done by the Solver but also for the work done by the Verified(s) (excluding unforced errors and bogus challenges), as well as the work done by Referees and Judges. We refer to the latter two costs as the verification tax. A company ensure that the jackpot repository never disappears entirely by placing a cap on the jackpot size. To this end, set the maximum jackpot payout for a forced error to be one third of the total repository size.

Generating forced errors

In order to motivate verification of all tasks and to guard the jackpot repository against swindle, forced errors must appear unpredictably. Vega uses strings of random bits to determine whether or not a forced error occurs for a given task. The system derives its unpredictability via the following properties. The first property makes it difficult for a Task Giver to create a task designed to swindle the jackpot repository, and the second discourages Solvers from being lazy and only volunteering to solve tasks which have forced errors.

Solver and Verifier election

The system effectively chooses Solvers by lottery. When a task is announced, Solvers broadcast their interest in solving it to the Referees in the form of Ethereum transactions. Referees, or more specifcally miners, choose one of these transactions to include the next block, thereby electing the Solver for that given task. In case the miner who chooses the transactions for the current block happens to also hold a lottery ticket, he may bias his chances of winning the lottery. This bias does not affect the security of Vega, however, since the Solver must still provide a correct solution.

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