Quite a few cryptocurrency enthusiasts have taken an interest in the Augur platform. This Ethereum-based prediction market has a lot of potential. In the latest development update for Augur, the team shares some important news. It is apparent the data and trading contracts will be audited soon. Things are looking up for Augur, but there is still a lot of work to be done.

Augur Is Inching Closer Toward Completion

The Augur prediction market platform has been in development for quite some time now.  It takes a lot of time and research to build a decentralized solution of this magnitude. Luckily, it appears some significant progress is being made as we speak. More precisely, the auditing of data and trading contracts will begin very shortly. This is an important first step toward making the platform succeed.

It is evident Augur will make use of smart contract technology. That is one of the selling points of Ethereum technology, as projects built on that blockchain can use smart contracts as well. Once the smart contracts are audited and verified, there is nothing preventing Augur from launching on the mainnet. No specific timeline has been announced regarding this deployment, though.

Judging by the development update, it is clear the team is working hard as of late. Various fixes have been introduced and additions have been made. There is still quite a bit of work to be done before this project can launch. In the meantime, the test app is still available for anyone who wants to play around with what Augur may offer in the future. It will be interesting to see how things play out once Augur goes live.

In the meantime, a lot of people are keeping their eye on the native REP token’s value. It appears there is some price suppression going on right now, as the REP value is kept well below the 0.01 BTC mark for now. Trading volume has also dropped off quite a bit ever since Bitcoin took a big dip. It is possible the markets will recover, but now is a good time to stock up on some REP if you feel the Augur project will make a big impact.

Header image courtesy of Augur

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.