The Augur blockchain prediction platform with the REP token will go into its second round at the end of July. Like the team on the website known Augur V2 should start on July 28th on the Ethereum Mainnet.
Augur V2 on Ethereum Mainnet
The decentralized protocol Augur was created in 2014, long before the big hype about cryptocurrencies and blockchain broke out. Now the platform goes into the second round, because Augur V2 starts on July 28th on the Ethereum Mainnet. With the start of the new version, the platform also receives a new token.
In the future, REPv2 will be used instead of the current REP token. The old token is renamed to REPv1 to avoid confusion. Cryptocurrency holders must manually migrate their old tokens to the new REPv2 to participate in the new platform.
To make it easier to switch the tokens from REPv1 to REPv2, the team will provide a tool and instructions within the Augur UI.
If there is a fork with the new V2 platform, all cryptocurrency holders are obliged to participate. The principle is called Augur "Use it or lose it ". If you do not participate within a 60 day period, you will not be able to participate in the future versions with your outdated tokens.
What is Augur (REP) anyway?
The Augur cryptocurrency with the REP token is a decentralized forecasting protocol based on the Ethereum blockchain. The platform was created in 2014 and the first public version went online in June 2015. The network should make it possible to make predictions for certain events. The basis for this is the "wisdom of the crowd" principle, ie the decision of the participants.
People buy shares on a certain outcome of an event on the Augur platform. The price depends on the probability with which the selected forecast will arrive. Based on the evaluation of this data, forecasts about various events are then created.
The cryptocurrency exchange rate has given investors a profit of more than 100% since the beginning of the year. A REP token is currently trading at just under $ 17 USD, and the all-time high celebrated the currency in early January 2018 at more than $ 115 USD. The following major crypto crash also caused enormous losses in the REP rate, as in almost all other cryptocurrencies.
With a market cap of over $ 180 million USD, the cryptocurrency ranks 43rd.
Markus from Kryptokumpel.de
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