A Look At What Decentralized Prediction Market Platform Augur v2 Is Bringing To The Table
Let’s Take A Look At What Augur v2 Is Bringing To The Table
As per an all new blog post released yesterday, decentralized prediction market platform Augur has announced that its new upgrade will help introduce a number of new features and bug fixes to its native source code as well as its UI.
Some Of The Core New Features Include:
(i) Stablecoin: One of the highlights of this latest update is the introduction of stablecoins to the platform. For those of our readers who might be able to recall, up until now the Augur ecosystem has made use of ETH as it's primarly medium of exchange. However, by introducing DAI-denominated markets, Augur is now slowly weeding out its volatility related issues (that are most commonly associated with ETH).
(ii) Security Upgrades: With the deployment of V2.0, bad actors/ malicious third-party agents will no longer be able to incur profits from invalid markets.
In this regard, the above-mentioned blog entry by Augur’s dev team reads as follows:
“In V2, Invalid will be a tradeable outcome like any other, enabling traders to hedge the risk of Invalid outcomes and gauge their likelihood via market forces. For example, if a market’s order book consistently has BUY orders for Invalid above .2, that suggests there is a greater than 20% chance the market is Invalid. For conservative users, this should be a warning to not trade the market.”
(iii) Standard Upgrade: Another major improvement to V2.0 is its use of a new token standard. In this regard, we can see that the Augur ecosystem will now make use of ERC777-based tokens in place of the more commonly used ERC20 standard. As a result of this enhancement, independent devs will now have the ability to make use of the unique “tokensReceived fallback function feature”.
In rounding off this article, we should mention that REP coin holders now have up to 60 days to make a switch from Augur 1.0 to V2.0. Lastly, the individuals who do not choose to participate in this fork event will risk losing all of their held tokens.
“The Universe with the most REP by the end of the 60 day period or which reaches 50% of all REP, wins.”