The most complicated decentralized app on the blockchain of Ethereum – Augur (as described by the co-founder of the app – Joey Krug), has just surpassed a million dollars at stake, and the app has shown a speedy growth rate over the last couple of weeks.
Augur – a Decentralized Betting Platform
Augur is a platform that is completely decentralized and it exists on the blockchain of Ethereum. The platform uses smart contracts to autonomously payout users and settles bets, as a result of this, users can virtually bet on any event, topic, or subject.
Augur was launched back in July, and it has shown an enormous, rapid growth rate, portrayed by the increase in its daily volume, user base, and the amount at stake on the platform. As of the 25 of July, about $1.5 million are at stake on the prediction market of Augur – according to the information provided by Predictions.Global.
Optimistic Experts on the Launch of Augur on the Blockchain of Ethereum
CNBC’s long-term Fast Money contributor and CEO of BKCM – Brian Kelly showed his enthusiasm towards the rapid growth rate of Augur as well as its impact on the blockchain of Ethereum. Kelly said: “Augur is one of the oldest Initial Coin Offerings and it has been in development for about three years now, and it is one of the biggest Dapps ever launched on the Ethereum network.”
He concluded by saying that this could be a big plus for Ethereum if the platform does not slow down the system.
Ethereum (ETH) Price Today – BTC / USD
At the time of writing, Ethereum (ETH) is trading at $482 after a decrease of 1.5 percent over the past twenty-four hours. The market cap of Ethereum is $48.12 billion and its trading volume over the past twenty-four hours is $1.76 billion.