MKV is an open container format for audio and video data created by Russian developers. The name of the format originates from the name of the project - Matroska (Matryoshka) with the addition of the first letter of the word Video. This format is considered an alternative to the much more popular AVI, but has not yet reached such a scale of distribution. MKV files are quite common among owners of fairly old mobile devices with Symbian OS and at the same time among those who prefer to watch video in FullHD, since MKV has good dynamics of transmitting video / audio streams. MKV with a wide range of features, in particular, storing audio tracks in different languages, is easy to edit, there are no freezes in large files.
VEP is a video editing project file. It does not contain a video recording, but only indications of what video clips to take and how to “dissect” them. She developed the VEP format, i.e. Video Editor Project, Online Media Technologies. Such files are created when you work with the program AVS Video Editor. This program provides the user with the ability to make their own videos or home videos. VEP files are responsible for keeping the timestamps of such videos. They also store a variety of reference data related to the video. Such data may contain information regarding both video data and audio data. VEP files use XML formatting, but they still have a few blocks of binary data that are encoded as text for sketching video and images. The VEP files created during the production of the AVS video file are located in the Content folder on the user's computer, and it, in turn, is located near the project folder. If you need to use the program AVS Video Editor, then note that all files to be edited must have the extension VEP. Once the video editing process is complete, you can convert it to its original format. You can also leave it in VEP format.