http://vexels.net/what.php
What is the difference between vector and vexel?
That is like comparing apples to.. elephants. Vector is a type of art, it doesn't have to look like anything in particular. Just like "painting" doesn't have to look like anything in particular, it is just a medium. Vexels on the other hand are a style of art.
Vector uses mathematical equations to create lines and shapes in images, it allows the shapes to be resized as much as needed without losing any quality.
Raster on the other hand works in pixels, when resized the image pixellizes and loses quality as shown to the right.
In all, working in vector has its advantages but vexels can be created in either vector or raster format since the process and result is significantly similar.
Here is an update on mine, I just finished drawing out the dress which took hours!