AugurLite, a Fork of Augur, Launched for US Presidential Elections 2020

Veil, the San Francisco-based developer of a decentralized prediction market and derivatives platform, has created an updated version of Augur’s prediction market protocol.

Veil’s new application, called AugurLite, has reportedly been developed to facilitate bets which will be placed on the upcoming US presidential elections.

"No One Has Been Able To Support Long-Running Markets On Augur"

While speaking at the recently held Token Summit Conference in New York, Paul Fletcher-Hill, the co-founder and CEO at Veil, remarked:

What we’ve done, is very recently we wanted to support the 2020 elections. … No one has been able to support long-running markets on Augur, so what we’ve done is take some of the infrastructure to run [AugurLite].

Although the Ethereum-based Augur network can normally handle long-running markets, the decentralized prediction market platform’s developers are planning to release a major update. The upcoming upgrades to Augur’s codebase are expected to be activated at some later point this year.

As confirmed in a Medium blog post, published in October 2018, Augur’s upcoming upgrade will require that all existing REP tokens, which are used to place bets on the platform, be migrated or transferred to a new set of smart contracts.

Veil To Support Markets While Augur Is Upgraded

Launching new prediction markets on Augur at this point would make any bets placed “susceptible to dispute,” as the platform will be undergoing upgrades. This, according to Fletcher-Hill, who noted that Veil would continue to support markets opened on Augur’s mainnet and also extend support for the platform’s upcoming updates.

Clarifying that AugurLite was developed in order to allow users to participate in decentralized prediction markets, as the Augur mainnet is being upgraded, Fletcher-Hill also mentioned: 

[AugurLite] is not a generalizable fork, it’s merely something our users had asked for these 2020 markets.

Founded in August 2018, Veil provides users an intuitive web-based interface to issue bets on various Augur-based prediction markets, with significant improvements in speed. As noted by Veil’s management, it is easier to place bets using Veil as the platform offers instant settlements in cases where the outcome of the wagers can already be pre-determined (or there’s a high probability that the bet will result in a particular outcome).

AugurLite Depends On Prediction Market Creator To Obtain Data

As confirmed in an tweet from Veil’s official Twitter account, the platform’s developers have launched trading for the upcoming US 2020 Democratic presidential nominee markets.

As stated on its Github page, AugurLite is different from the main Augur platform as it is based on a different type of oracle service. Notably, oracles are used to obtain real-world data, which is then registered on blockchain networks.

Augur’s prediction markets have their own oracle service, which ensures that data being sent to the application is secure and accurate. In comparison, AugurLite does not have a native oracle service, as it depends on the prediction market creator to obtain data from external sources.

No Built-In Oracle

According to AugurLite’s GitHub page:

No oracle is built into the protocol. Instead, markets have a resolver which can reference any oracle—an Augur market, Chainlink feed, or any arbitrary smart contract state.

The Github page also clarifies:

No trading happens through the protocol. The ERC20 outcome tokens should be traded on other protocols like 0x or Hydro. Relayers like Veil, BlitzPredict, or Flux can provide UX.

Apple Users Score Crypto-Friendly Options; Trio Close Venture Equity Rounds

The top daily news from the cryptocurrency and blockchain space:

  • Opera’s crypto-, blockchain-ready browser hits Apple iOS.
  • Venture funding spree continues with trio of equity round closures.
  • Ethereum ERC-20 tokens to be tradable on a world-leading stock exchange by year-end.

At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $12,630.8 (-0.7%) and $327.5 (-1.1%), respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 5,051.6 (-0.1%).

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Opera’s Crypto-, Blockchain-Ready Browser Hits Apple iOS

Opera, the software technology company behind the popular web browser of the same name, announced its blockchain and cryptocurrency-ready Opera Touch browser is now available for iOS, the mobile operating system created and developed by Apple.

Opera Touch features “crypto wallet integration and Web 3 support,” meaning users can natively interact with blockchain-based applications; eliminating the need for a browser extension such as MetaMask.

Currently, Opera Touch only supports ERC-20 tokens, stablecoins, and non-fungible tokens. Support for other blockchains like Tron (TRX), however, is expected to be enabled by the middle of next year.

Venture Funding Spree Continues as Trio Close Equity Rounds

A total of three projects that, either directly or indirectly, form part of the fast-growing cryptocurrency and blockchain ecosystem, announced successful venture capital rounds.

The first was blockchain data startup dfuse, which raised $3.5 million in an equity round co-led by Multicoin Capital and tech giant Intel’s venture arm, Intel Capital. Commenting on his crypto-fund’s decision to invest in dfuse was Multicoin’s Kyle Samani, who, in a blog post, noted that the EOS-native dfuse will “be launching support for Ethereum in the next few weeks.”

The second was Imgur, one of the world’s leading image hosting platforms, which announced it raised a venture equity round worth $20 million from the XRP-integrated micropayments startup, Coil. “As part of the transaction, Stefan Thomas, Founder & CEO of Coil and former CTO of Ripple Labs, Inc., will be joining Imgur's board of directors,” stated a press release from Coil.

The third was now-former ConsenSys incubatee 3Box, a U.S.-based startup specializing in the decentralized identity space, which closed a Placeholder Ventures-led $2.5 million seed round. Other investors in 3Box included Venrock, CoinFund, Northzone, and ConsenSys.

Ethereum ERC-20 Tokens on Swiss Stock Exchange by Year-End

According to CoinDesk, Swiss security token startup BlockState is planning to “passport” six Ethereum-based ERC-20 tokens to R3’s Corda, a private distributed ledger technology platform.

“Before the end of the year, the tokens will be locked up in a smart contract on ethereum and “mirrored” versions of them will run on Corda,” the crypto media outlet reported, before continuing to report “the passporting will take place on the network R3 is building for the Swiss Digital Exchange (SDX) – part of SIX, Switzerland’s national stock exchange.”