At last, after more than two years of being conceived, it was informed that the prediction and decentralized betting platform Augur has launched its Mainnet and gone live today. The app, that is built on top of Ethereum, one of the most trusted blockchains presents itself as a different way of betting into not only sports but also into politic events and finances. The announcement was made on their twitter account.
Augur was started as an Initial Coin Offering back then in 2015 and had some bumps in the road to launch their protocol completely. This betting scheme lets users propose their own bets about particularly everything. While there are sports betting sites, Augur stakes to be the most esoterical betting site, letting users bet about elections and random developments, amongst others.
Another advantage that in theory Augur should have over centralized betting sites is that Augur only collects 2% fee for every bet, a lot less than other sites that collect as much as the 5%. Trust in the betting brokerage is also an advantage for this app, because it is based in the most interesting and useful trait of Ethereum: smart contracts. Smart contracts are a certain type of contract that lets both parties of a transaction be safe and rely only on the platform to resolve the bet after the event.
Though Augur did launch, some users have experienced problems with some bets and annoyingly high fees for some events. Some users that have run test bets have wanted to bet a cent and the fee jumps to 30 dollars, something that is unacceptable. There is also the possibility of this new platform to disrupt the Ethereum network, much in the same way that the game Cryptokitties did last December. Ethereum is known to not scale very well with this type of apps, but developers are working on this.