After years in the making, decentralized, peer-to-peer (p2p) oracle and forecast market procedure Augur introduced its long-awaited second version.
“The Augur v2 protocol contracts have been successfully deployed to the Ethereum Mainnet,” said the statement, with the agreements formally released.
The second version comes with considerable changes and integrations, consisting of the p2p hypermedia procedure Interplanetary File System (IPFS), p2p network for sharing orders 0x Mesh, Uniswap‘s oracle network, and MakerDAO‘s DAI stablecoin “so that people could bet, effectively, in dollars,” as they said in a blog site post.
For instance, “using IPFS means that the absence of no individual party can shut down client distribution and alterations of the code from what is openly available on GitHub can be provably detected,” Augur said in a different blog site post.
Augur is readily available in the internet browser too, rather of users needing to install a desktop app, while V2 likewise “launched with mobile-specific designs” so people would not “need a laptop or desktop merely to use Augur.”
All services, consisting of exchanges, wallet companies, obstruct explorers, and others, will now be upgrading to the REPv2 agreement address over the coming day, added the upgrade statement.
Crowdfunded in August 2015, with angel financial investments from Ethereum co-founder Vitalik Buterin, and introduced in July 2018, the Augur platform runs as a decentralized forecast market operating on the Ethereum blockchain. Its ASSOCIATE token is utilized as the source of benefit and “gas” for making forecasts.
Per the statement, existing ASSOCIATE holders need to by hand move their ASSOCIATE to the brand-new REPv2 token in order to take part in the Augur v2 reportingsystem There’s an Augur Customer readily available for that function.
Exchanges like Kraken, Bithumb, Coinbase, and Binance have actually currently revealed their assistance for the upgrade.
Nevertheless, there is “no immediate requirement to migrate REP to the new REPv2 upon deployment,” so some services might not have actually shared their prepare for moving to REPv2, statedAugur They added that “the only time in which migration from REP to REPv2 would become a necessity is if an Augur v2 market entered into the forking process.”
On the other hand, stated the platform, the “REP token will remain freely transferable forever as it has no freezing, pausing or administrative functionality, however, it will retain no functional use within Augur v2 without migration to REPv2.”
Soon post launch, the platform shared the first reported bugs and interim workarounds, mentioning that “real services [are] coming soon”.
You’re. Augur v2 is not ideal for little bets, today, due to gas expenses. The neighborhood is dealing with incorporating other trading approaches, eg. a Balancer swimming pool or automated market maker, which will have about 8x less gas charges.
— Ryan Berckmans (@RyanBerckmans)July 29, 2020
Joey Krug, Core Designer on Augur and Co-Chief Financial Investment Officer at Pantera Capital, commented that the date for V2.1 is not understood yet, as repairing today batch of problems comes first, “as soon as possible, a lot of unknowns here, will know more soon as we try some ideas.”
Discovering a lot from Augur v2 launch. New upgrade in the works to spot the bulk of issues/bugs users are currently dealing with. It might feel rough however the cycle to repair this batch of problems will be far quicker than the batch of problems we saw w/ v1 launch!
— Joey Krug (@joeykrug)July 29, 2020
At pixel time (14: 50 UTC), ASSOCIATE, ranked 46 th by market capitalization, trades at USD 21 and is up by nearly 1% in a day, cutting its weekly losses to nearly 8%. The cost is up by 31% in a month and 84% in a year.
Source: IntoTheBlock, coinpaprika.com.