The developers of the decentralized prediction market protocol Augur have launched its second version.
The developers of the project have announced on July 29 that the Augur v2 protocol contracts have been successfully deployed to the Ethereum mainnet and that they have been verified through Etherscan. The first version of Augur, which was launched back in 2015, was slow and difficult to use.
One of the main innovations of this second version is that bets will be "effectively in dollars," while in the first version of the platform they were denominated in Ethereum. In Augur v2, users can use the stablecoin DAI for calculations. Augur head of operations Peter Vecchiarelli said:
"With DAI being pegged to the dollar and if it stays stable, when people make the bet, the payout that they get at the end is what they expected to get. So, that's kind of the biggest change in Augur v2."
In addition, users now can run Augur through their browsers, which means they will not need to use the special software that was required to run the first version of the protocol. Vecchiarelli has added:
"We also redesigned the user interface from the ground up. It's more akin to what you'll see on Binance or Coinbase Pro."
New mechanisms have also been added to prevent the creation of "invalid and deliberately confusing markets." This is expected to prevent potential attackers from taking advantage of "invalid" bets. This type of bets occur, for example, when the market organizer does not set an explicit end date, adds an unclear description or includes grammatical or linguistic mistakes, which can lead to confusion.
Augur v2 also features some new crypto tools including IPFS, Dai, 0x Mesh and Uniswap's pricing oracles.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.