Augur has tapped Polygon (MATIC) and Chainlink (LINK) to launch the Augur Turbo decentralized betting platform. The group claims Augur Turbo is designed to supply customers frictionless & tremendous previous wager decision, cost-efficiency, and extra, in line with a weblog submit on Might 24, 2021.
Augur Turbo Now Stay
In a bid to supply its customers a superfast and cost-efficient betting expertise, Augur has joined forces with Polygon (previously Matic) and Chainlink, a decentralized oracle community that feeds real-world knowledge to blockchain sensible contracts, to launch Augur Turbo.
In line with a weblog post by the Augur group, Augur Turbo is an extension of the Ethereum-based Augur protocol, nonetheless, the previous is designed to perform as a fast-resolving, user-friendly decentralized betting platform that comes with every day markets for sports activities, politics, crypto value predictions, and present occasions in the true world.
“Conventional betting exchanges are extremely centralized and so they impose numerous restrictions on customers, together with restricted payouts and withdrawals, siphoning charges of 5-10 p.c, and limiting the kind of markets that may be created. Compared, Augur Turbo is a set of open-source sensible contracts that allows customers to create their very own markets on the blockchain to get pleasure from honest odds, low charges, permissionless entry, and assured payouts upon settlement to a worldwide viewers.”
Powered by Polygon (MATIC) and Chainlink (LINK)
Notably, the group has made it clear that although Augur Turbo comes with an in-built human-based oracle system that makes use of a token-weighted voting mechanism with escalating dispute rounds, it nonetheless depends on the excessive scalability and throughput of Polygon, in addition to the accuracy of the Chainlink real-world knowledge oracle to supply customers quickest settlement occasions attainable.
“With Augur Turbo now dwell on Polygon’s extremely scalable and fee-efficient layer-2 community, the significance of swift market settlement turns into more and more necessary because it will increase each capital effectivity and betting market liquidity. Moreover, a really strong oracle community taking in knowledge from numerous premium knowledge suppliers gives robust ensures across the high quality of knowledge used to find out the end result of occasions like sports activities on Augur Turbo,” the group added.
What’s extra, the group claims that, in contrast to real-world betting platforms the place customers’ accounts may very well be suspended simply, such a situation is unattainable on Augur Turbo, as it’s completely powered by audited and safe sensible contracts. Customers from all around the globe may also get pleasure from no-limit betting, low charges, frictionless betting, and extra.
At press time, Chainlink’s native crypto, LINK is buying and selling at $24.83, with a market cap of $10.60 billion. Polygon’s MATIC is exchanging arms for $1.64, with a market capitalization of $10.18 billion, whereas the worth of Augur (REP) sits at $24.68, in line with CoinMarketCap.
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