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The Augur Platform is Preparing to Expand the Network

The Augur Platform is Preparing to Expand the Network

The Augur platform is designed to ensure that the crypto community creates market forecast for almost any event. A user can create a market, and after that, traders buy stocks on probable results.

The forecast markets are regarded as an effective tool for decision-making. The fact is that unlike traditional solutions, where knowledge comes from a single source, markets of this kind allow you to get information about a large group of people. Providing an opportunity to bet on the outcome of an event can lead to effective decision-making. The thing is that people have the opportunity to make money with their unique knowledge. Representatives of the Augur project believe that a wider use of blockchain technology for decentralization and efficiency of work will allow to accelerate the preventive markets.

Migration process

After the launch of the Augur main network, the current smart contract containing the REP tokens will be frozen. In turn, the balance sheets will be transferred to new ones. It is expected that the migration will be completed smoothly, within a few hours after the launch.

At the same time, users who have a token deposited on decentralized exchanges (DEX) must withdraw their holdings to another wallet or centralized exchange. Users who do not have tokens on decentralized exchanges don't have to do anything.

For now, the Augur platform is one of the most interesting projects in the ecosystem of Ethereum. One of the first advisers of this project was Vitalik Buterin himself.

#Augur, #Ethereum