The Augur prediction platform, based on the Ethereum network, after 5 years has announced the launch of its Version 2. This Tuesday, July 28, the website of this firm announced that in the new V2, there are substantial changes to improve the experience of the users.
It should be noted that the contracts of this platform have been implemented on the Ethereum Mainnet. In addition, it offers a series of tools for a more accurate handling of bets. Among the innovations, the use of the Interplanetary File System (IPFS) stands out.
It should be noted that Angur, founded in 2015, is one of the first ICOs based on Ethereum’s smart contract technology. Its development has allowed it to now, with the V2 version, have all the advantages of being a DeFi.
The Ethereum Network and DeFi platforms
One of the great advantages of Ethereum’s advanced Blockchain network is its ability for smart contracts. DeFi or Decentralized Finance are platforms that constitute one of the most important developments that this new era of digital money has brought.
DeFi are firms that fulfill all the functions of traditional finance in relation to credits and financing. However, there are notable differences. Some of them are democratization, speed and fractionation of investments, all designed to make it more affordable for people with low capital.
In this sense, the great advantages that these decentralized finance platforms of the Ethereum network represent can be noted. This innovation allows the tokens of the different DeFi to be one of the cornerstones of the new form of credits.
The evolution of Augur
The first version of Augur, released as already stated in 2015, consisted of a simple prediction platform with few tools. It was based on Truhcoin, a protocol built on the basis of the Bitcoin Blockchain network.
According to information published by Augur’s own founders, cited on CoinDesk, Jack Peterson and Joey Krug, they had considered a new version shortly after the launch of the first.
In the aforementioned publication, entitled Augur Master PlanThe founders recognized the slowness and high costs of operating on this Ethereum network platform. Given that, they announced that a new version was coming in 2017, which would be cleaner and more efficient.
What does this platform consist of?
Augur is a betting platform, that is, it is responsible for analyzing data from the Ethereum network itself. It can be considered as an oracle, which can be practical and effective, but at the same time, a little risky. This is because it is data outside the chain.
In other words, when a transaction is made in a certain cryptocurrency, it is registered. In that regard, the data is objective. On the other hand, the data outside the chain are subjective.
In this sense, the function of this platform based on the Ethereum network is simply to convert data. These are processed, from external sources, to link them inside the Blockchain.
Data to consider
- The Augur platform, based on the Ethereum network, has three types of bets, these are: a Yes / No market, a categorical one with different response options and the third, a market of scale between 0 and 100 tokens.
- The platform was initially launched in 2015, and is one of the first based on the Ethereum network.
- This new Version 2 has new tools that allow better stability and control to the users who use it.
- Apart from IPFS, the platform will have access to Maker DAO, 0x Mesh, Dai-based tools, among others.
- With the use of the Interplanetary File System (IPFS), Augur has the possibility of providing its clients with tools to manage their data in a decentralized way.
Reliable sources
The information in this content has been extracted from reliable sources detailed below.:
1- Professional handling of content by the authors of CriptoTendencia.
2- External sources: Augur.net, Coindesk.com and medium.com.
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