A platform for prediction markets Augur continues to expand its client base. Using the data provided by CoinDesk Predictions.Global (an online resource that allows you to monitor the markets Augur in browser mode), publishing announced the release of the platform to a million turnover continuing trend of growth.
From the graphs, at the disposal of CoinDesk, it follows that the peak was reached in the course of a day between Sunday and Monday. The number of open positions at rates increased by 51% to $325 000.
The indicators Augur came to this level in less than a week after the launch of the service. On the day of release platform briefly entered the top five most popular application on the basis of Ethereum, topped the rating in its category and ahead of the popular simulator Pets CryptoKitties by the daily volume. Being the biggest application on the second largest blockchain in the world, Augur is already recognized as advanced storage of collective knowledge.
Although this statement has little backed up on the thing, quantity, and diversity of markets represented on the site grows. Launch day, July 11, the bet amount on the open positions was $100,000; on Sunday, the amount was doubled and on Monday reached $300 000.
According to another resource, DappRadar, the volume of transactions carried out under the terms of smart contracts Augur exceeded 3500 ETH (over $1.6 million at the exchange rate at the time of writing); about one-third of this amount fell in the last 24 hours.
Variety of markets: biblical themes and basic themes
Despite the increase in the number of represented markets, Augur has seen a steady concentration rates. Despite the fact that the platform has created more than 300 markets, many of them inactive, about half of open positions posted on one market: overcome if quotes ETH the threshold of $500 before the end of the year. At the time of writing the amount of bets on this market amounted to more than $300,000.
As expected, users enter into and frivolous bet. Some markets devoted to the proof of God’s existence; most of us agree that it would appear in the media until 1 January 2020.
Despite the increased concentration, market diversification is increasing. Co-Founder Of The Predictions.Global Ryan Berckmans (Ryan Berckmans) said:
“We are seeing huge dollar turnover, the incredible pace of creating new markets, innovative approaches to the types of markets and their characteristics in terms of use.”
As an example, he cited better under the name of the Liquidity Health of the Creator of the markets forecasting pandemics of serious diseases, such as Nipah virus. Twitter Liquidity Health noted(a) that the main objective of these markets is “fighting diseases with more accurate forecasts”.
Despite the negative reaction is part of the community believes that these markets can stimulate the artificial propagation of viruses for profit, is a co — founder Augur Joey Circle (Joey Krug), however, felt that such use of the platform “very interesting” and said that such an approach can provide “much useful information”. He added:
“I’m not so much concerned that someone might spread the disease of greed”.
Another interesting example is the “control mechanisms” MedCredits for holding ICO and execute long-term plans. Startup uses Augur for trust rates to start primary supply of tokens to be held on 15 October. The amount of betting on the market exceeded $5000.
Funnel bugs
Despite encouraging volume figures, the application can boast a large number of users. In the last 24 hours activity showed only 113 people. Circle attributes this to technical problems Augur. Given the number of complaints about inconvenient interface and interrupt synchronization, which appeared on forums and in social networks, the statement seems to be common.
Since the release the developers Forecast Foundation has released four patch and work with the provider nodes Infura to fix failures in the join. These bugs have been fixed, said Circle, and now users will see that the Augur is a reliable platform and start making more bets. The first markets will be settled this week, and will therefore have to be made and the first payment. If all goes without incident, it may become an additional stimulus for active hitters and has not yet joined observers.
Ultimately, he said, Augur is designed for users to “create markets in anything” without having to pay for the services of financial intermediaries. Yet, this remains only a vision awaiting realization — including that due to natural limitations of the blockchain Ethereum and high gas contributions. But Krug is confident that all these problems will be solved. He said:
“We are now seeing exponential growth.”
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