The cryptocurrency market shrinks by $ 7 billion as the Augur and EOS prices leap


Climbing clifftop - The cryptocurrency market shrinks by $ 7 billion as the Augur and EOS prices leap

Join our community of 10,000 traders on Hacked.com for only $ 39 a month

The cryptocurrency market has rebounded a little over $ 7 billion over the past 24 hours, despite fights of bitcoin, ethereum, and other important crypto-currencies on the world market.

the cryptocurrency market shrinks by 7 billion as the augur and eos prices leap - The cryptocurrency market shrinks by $ 7 billion as the Augur and EOS prices leap

Augur Deploys Intelligent Contracts on Ethereum Mainnet

Earlier today, May 17, the Augur team announced that after years of development, Augur's smart contracts will be live on the network. Ethereum on July 9, 2018. The official announcement of the Augur team led the market to react, allowing the price of the REP, the native token of Augur, to increase. around 10%.

Due to the poor performance of bitcoin and Ethereum, most of the chips and crypto-currencies in the market have not recorded significant gains over the last week. In fact, the best performing tokens at the beginning of May, including EOS, 0x (ZRX) and WanChain (WAN), fell sharply in the last three days. As such, the 10 percent gain of REP during a very volatile period like this week is remarkable.

Augur was founded in 2014 by Joey Krug as a decentralized prediction platform. In a statement, Krug revealed that the original Augur smart contracts on Ethereum were written before solidity, the most widely used Ethereum programming language, was invented.

"We have already shipped Vuln production code on Ethereum as the first smart auction deal that has dealt with 1M ETH.We have written contracts on Ethereum since before the durability was even a language, "said Krug.

He further pointed out that "Augur is undoubtedly the complex project on the Ethereum network and that it is about 10 times more complicated than MakerDAO, which is the second most complex on Ethereum

Krug said that developing a solution to resolve a consensus on real-world events on which Augur users can place wagers was as difficult as solving the consensus algorithm proof-of-play due to scalability defects.

"Resolving a consensus about real-world events was initially a research problem, we thought some previous books solved it, but it turns out that he did not not really and that it had serious problems of inventiveness.It is about as difficult as solving PoS.Abuur is about 10 times more complex than the second most complicated Ethereum project, makerdao, who has about 10 contracts vs. 100 augurs [complexityn't is a good thing and the teammistress tried to get as little as possible with a little effort]added Krug

State of the market

Given the complexity of Augur's smart contracts, the Augur deployment on the Ethereum main network is a monumental step for Augur and Ethereum. As a result, a significant move in the price of the REP was expected by investors given the importance of deploying Augur smart contracts on the Ethereum network.

However, the increase of 10% of the price of REP has demonstrated the state of the market. That has been declining continuously since early May. Even ICON, which has partnered with LINE, a Japanese messaging app with over 200 million users, has not seen any major movement in its price on May 16.

Image of Shutterstock at one time

Follow us on Telegram.
Advertising

What's Your Reaction?

Cute Cute
0
Cute
Geeky Geeky
0
Geeky
LOL LOL
0
LOL
Love Love
0
Love
OMG OMG
0
OMG
WIN WIN
0
WIN
WTF WTF
0
WTF
Like Like
0
Like
Dislike Dislike
0
Dislike
Damn Damn
0
Damn
Angry
0
Angry
Cry
0
Cry

0 Comments

Your email address will not be published. Required fields are marked *

You may also like

More From: Startups

DON'T MISS

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format
%d bloggers like this: