Peer-to-peer platform prediction markets Augur set a date for the launch of the core network – July 9 at 21:01 Moscow time. We will remind, ICO Augur held in 2015 and was one of the first primary offerings of tokens on the blockchain of Ethereum. The result of the ICO project has managed to attract 5.5 million dollars. Since the project is in development.
The Augur platform allows users to create market forecasts on the results of almost any event in the future. Users create the markets of events, after which traders purchase shares of the possible profits. At the end of the event are paid Commission based on results. The platform is equipped with an integrated model of conflict resolution and encourages holders of tokens to correct erroneous information, so that the system accurately reflect real-world events. The whole procedure is carried out in a peer environment with no centralized parties.
Prediction markets are considered to be an effective tool for decision-making because, in contrast to traditional analytical tools, the use of which information comes from one source, these markets allow you to get the information from many users. The use of the technology of the blockchain can make the process decentralized and effective.
After you start the core network valid smart token REP contract will be frozen and the balance of the user automatically migrate to the new smart contract. It is expected that the migration will be over in a few hours after launch.
User tokens which are stored on decentralized exchanges like EtherDelta and IDEX, you must transfer the funds to another wallet or on a centralized exchange, which announced support for exchange tokens for coins to the new blockchain. Users to store the tokens in their wallets, to do nothing.
American startup HackerOne organized program to search for errors in the code Augur. The reward for critical vulnerabilities up to 200 000 USD.