Augur has finally announced that updating Augur v2 will launch on July 28.
What is the augur?
Augur is a platform that allows anyone to create and be part of a predictive market, that is, place bets where users can try to guess what will happen or how an event will unfold.
The platform uses a series of oracles to determine the outcome of a condition, and then pays those who participated and guessed the outcome.
Augur has his own token, REP, and even the token will go through an update process and migrate from the current version of REP v1 to the new one version of REP v2.
This migration process will have to be done manually, something that could lead to the birth of scam platforms, so users are recommended to be careful to avoid encountering any scam that requires the sending of private keys, seeds and anything else. .
The migration to Augur v2 has very strict parameters: in fact, there will be a 60-day window for migration and all tokens will have to participate in the fork following the "use it or lose it" logic.
For this reason, the team hopes that there are tokens that will not be able to participate in this process, approximately half a million REP.
Additionally, the Augur team invites all the various dApps and platforms to update their contract to properly support the new REP v2 token.
Certainly important news for the project, but it may involve some problems, in particular related to the migration of the token that will be entrusted to the user.
Regarding exchanges, they will be able to operate an automatic migration system for users who own the cryptocurrency.
The predictive market in blockchain and not
The predictive dominance of the market is very interesting and this is also reflected in the draft EverIpedia PredIQt, which is entirely based on the EOS blockchain.
Another giant that has approached this sector is Facebook, which phase will begin test of a similar system but without any remuneration for the users that will participate and obviously without the use of blockchain.
Meanwhile, the REP token is trending positively and is currently trading at around $ 17, ranking 43rd on the CoinMarketCap.