WAV (or WAVE) is actually the first full-fledged audio format with good sound quality. It was developed quite a few years ago by the joint efforts of Microsoft and IBM. Sometimes this format is even called “Audio for Windows,” because it is the standard for storing audio stream for a traditional Windows desktop computer. Full name - Wave Audio File Format. The short name is derived from the English word wave ("wave"). The peculiarity of this format of digitized audio stream is the lack of compression. WAV files take up too much space, but it is ideal for storing high quality files in their original form.
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.