Q: What is blockchain and does Vesta Equity’s marketplace run on it?
Blockchain is a powerful and revolutionary technology that allows digital records (data) to be made in a decentralized manner across a network (distributed ledger) and verified through consensus by multiple sources on the network. This prevents independent data warehouses from storing, manipulating, and creating monopolies over data for economic benefit. A very common type of data is a financial transaction, and on a blockchain this can be made using a digital token or a cryptocurrency. By using blockchain technology, Vesta Equity’s marketplace ensures that all transactions are fully auditable, immutable, and much quicker compared to traditional methods of transferring funds.
FAQs > Technical > Blockchain
Q: What blockchain is Vesta Equity using for tokenizing real estate?
We leverage Algorand's proof-of-stake blockchain infrastructure for tokenization. Algorand offers state of the art technology for tokenizing physical assets using their ASA (Algorand Standard Assets) functionality. In addition, due to the nature of Algorand's efficient infrastructure, transfer fees are extremely low and transfers are immediate.
Q: What are Pera Wallet and MyAlgoWallet?
A wallet is a secure digital device or app used to store, send, and receive digital assets on a blockchain. Homeowners and investors will connect their wallet to the Vesta Property Marketplace, but will maintain full control over the contents of their wallets and the transactions made using their wallets. The Perra Wallet is a mobile wallet app that connects homeowners and investors with the Vesta Property Marketplace and the Algorand blockchain. For investors, a wallet is used to hold digital securities. For homeowners, a wallet is used to receive funds from investors. Click here for more information on how to set up a Perra Wallet.
For users who prefer a desktop application, MyAlgoWallet is also compatible with the Vesta Property Marketplace and the Algorand blockchain. Click here for more information on how to set up a wallet with MyAlgoWallet.