Augur, decentralized platform tailored for prediction markets, has revealed the details of launch of its smart contracts. The Augur team announced that smartcontracts on the Ethereum mainnet on July, 9.
Deployment Details & REP Migration
— Augur (@AugurProject)
is an open-source, decentralized, peer-to-peer oracle and prediction market platform built on the Ethereum blockchain. Founded in 2014 by Joey Krug, Augur ensures the accuracy of this real world information by providing a financial incentive for REP token holders to correct markets they believe have been reported on incorrectly. To participate in Augur, users can trade shares in markets, create prediction markets, or participate in the reporting system to keep the Augur oracle honest.
According to Krug, the original Augur smart contracts on Ethereum were written before solidity, the most widely utilized Ethereum programming language, was invented.
“We’ve shipped production vuln free code before on Ethereum like the original augur sale smart contract which handled 1M ETH. We’ve been writing contracts on Ethereum since before solidity was even a language,” Krug said.
He also predicted that Ethereum “scalability will take a few years to improve”.
First, to start, I’m not bullshitting you. We’ve shipped production vuln free code before on Ethereum like the original augur sale smart contract which handled 1M ETH. We’ve been writing contracts on Ethereum since before solidity was even a language.
— Joey Krug (@joeykrug)
In a post published on , Augur states that “the current REP token contract will be frozen indefinitely, and the automatic migration of REP balances will begin. If you are a REP holder or user of a centralized exchange or non-custodial decentralized exchange, there is nothing you need to do”. After the REP migration is complete, REP balance will be exactly as it was before the migration. The migration is scheduled on July, 9 at 11:01 PDT and is supposed to take only a few hours.
The only types of REP token holders that will have to withdraw their REP prior to July,9 in order to have their balances properly migrated are those using “custodial decentralized exchanges such as EtherDelta/ForkDelta, IDEX, and OasisDEX,” the post reads.
After the migration, every service that touches REP will need to update the contract address. When Augur is deployed and the REP balances have been successfully migrated, Augur will be live on the main Ethereum network.
Augur’s smart contracts are quite complicated, but despite this fact, REP draws much attention. The currency saw increase in price recently. According to , the current REP price makes up $55,66. The deployment of Augur on the mainnet of Ethereum is important for both Augur and Ethereum, and can heighten investors’ interest to the currencies.
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Decentralized web developer is one step closer to its vision of web 3.0 with the introduction of app.co, a directory for decentralized applications or dapps.
With every month, there are more and more dapps, a number of them are decentralized versions of the apps that have been already known in their not decentralized versions. Such giants as WhatsApp, YouTube, Twitter and Google docs also have their decentralized counterparts.
A decentralized alternative to WhatsApp is called Stealthy. The name of YouTube’s decentralized version is DTube. A decentralized counterpart of Google docs is known as Graphite. Today, decentralization also comes to social networks as well with Twitter’s decentralized alternative called Peepeth that is already available.
Blockstack team strongly believes into the necessity to make dapps closer to a wide audience. Bearing this idea in mind, the team has announced its new project – the first ecosystem-wide, universal that represents itself an aggregator of available dapps.
At the moment, on this platform you can already find over 150 dapps built on Blockstack, Ethereum, EOS, IPFS, Steem, etc. The range of dapps includes gaming dapps, social networking dapps and those that are used in the sphere of financing. Nevertheless, it is expected that the number of the dapps available will be increasing.
Right now, it may take you long to find the best dapp that will meet all your needs and requirements as today there are too many various channels to access them. The idea of the Dapp Store is similar to that of Apple’s App Store, for example. The Dapp Store will facilitate the way you can discover what you are looking for and will provide developers with an opportunity to feature their dapps in one place.
In the future, Blockstack plans to add user ratings to their platform. It will help to rank dapps across the entire ecosystem. As it is written in the company’s official , they “want to democratize dapp development, and reward developers for great user experiences”.
Ryan Shea, co-founder of Blockstack, said that their aim is to connect decentralized app developers with their potential users. The project the launch of which is viewed as a milestone for development of dapps will be free for developers.
“The goal here is to demonstrate, to really bring together app developers and users and provide value in connecting the two. We want to help users discover decentralized applications. We launched our browser last year which was a great success, and after that we started noticing people were building real apps on top of our platform, and this last year we were focused on learning from them,” – Shea.
The team says that their Dapp Store is created with an aim to unite the decentralized community and to familiarize users with all the opportunities that decentralization has brought to different industries.
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