Blockchain-Based Forecasting Platform Augur To Introduce Stablecoin DAI-Denominated Markets Apr 10, 2019 Apr 10, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsApril 10, 2019 by Kelly Cromley

Blockchain-Based Forecasting Platform Augur To Introduce Stablecoin DAI-Denominated Markets

Through an official blog post, Augur, the blockchain based platform that facilitates even betting, has unveiled a token designated in MakerDAO’s Dai (DAI) stablecoin as portion of a key overhaul to its system.

Augur asserts that launching DAI-designated markets will remove much of the volatility related to trading, in comparison to Ethereum (ETH), which has been the principal crypto used in the platform for trading.

DAI assistance is offered as portion of sweeping enhancements to Augur’s protocol, with the company informing that its variant two (V2) convention contracts are “now ready for the first round of audits with integration work in progress with the rest of the Augur platform.”

With reference to DAI support, the blog post underlines that:

“For V1, the usage of ETH was accomplished by using a contract (‘Cash’) that wrapped ETH and was given additional trust by the Augur contracts to take privileged transfers. The V2 contracts will still reference ‘Cash,’ which will instead point to an ERC20 Token with no extensions. At release time, this will be set to the Multi-Collateral DAI token.”

Additional protocol enhancements notably consist of managing the latest vulnerable point on the platform that had permitted bad actors to establish intentionally invalid markets. To resolve this problem, Augur is launching a V2 overhaul that will permit for “Invalid” to be a tradable ouput.

Amidst a series of several new features for V2 is Augur dubs “Use it or Lose It Forking,” which presents a time frame, in addition to the prevailing token percentage bonus, in order to encourage clients to transfer their tokens and partake in a fork, while guaranteeing security.

In addition to the abuse of invalid markets by bad players, Augur had earlier triggered dispute with the launch of “assassination markets” on the platform, which allows users to place bets on the death of several popular public figures.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.