Hello! I would like to do gradient fading for displacement to edges of a mesh. Can I use the properties of vertexcolors to control the displacement amount parameters?
Yup you could probably use a custom shader or the node material editor for this. then you could either use the local position in the mesh if you normalize it or the vertex color info as an input for your displacement.
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Great, thx! It now remains to study shaders 
This will help you a lot How To use the Node Material - Babylon.js Documentation
You have plenty of video tutorials at the end including an amazing serie from @PirateJC
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I certainly wouldn’t say “amazing” but hopefully it’s helpful
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