Augur Poised for a Possible Resurgence
2018年11月7日 - 2:43AM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
November 06, 2018 -- ADVFN Crypto NewsWire -- Back in July, Augur
seemed to be on top of the world in terms of traditional financial
indicators, including being the top Dapp in terms of coin volume
and daily users. Then, the bear market intensified and Augur’s
value fell with the rest. Unlike others like Bitcoin and new
stablecoins, Augur never really swung back anywhere close to its
previous position until very recently.
It is not really the fact that it
has gained a lot of value in the short term, so much as it is the
amount it has gained in the short term that is most interesting,
for a very specific reason. Even in what can be considered its best
time by financial performance, it was doing an average volume of
about 900 Ether, daily. If you do not remember what Augur is, just
think about a place on the internet on which anyone can bet on
anything.
That is the basic definition of
what Augur is, as a platform. Now, according to Coindesk, the
mid-term elections happening in the United States have caused the
latest resurgence in its usage. Given this, it would seem that
people care about giving their takes on political elections in a
way which they can be rewarded for. This idea of a reward for
any prediction is where Augur arguably becomes controversial. In
the most simple sense, you can predict anything and win a certain
amount of Augur’s REP coins if your prediction proves to be
correct. Because of this, there have actually been controversial
reveals of predictions related to assassinations and other
unscrupulous events. Even so, some would argue that this is par for
the course.
With decentralization comes
an element of bad actors.
As with just about any Blockchain
project, this is where the idea of adequate governance of the
network comes in. Augur incentivizes performance in consensus with
the networks. In other words, predictions that go too far against
the grain are punished in a way to akin to the user losing his or
her stake. Related to the jump because of the elections mentioned
above, the platform has seen a sudden spike in 3,517 Ether related
to election betting, but other areas of its operations are
relatively stagnant, including daily user numbers. Because of this,
even though any spike in usage is a good spike in theory, Augur
still has a long way to go back to its all-time high.
By: BGN Editorial Staff
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