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Augur reaches 2 million USD in bets on Midterm election in the United States

Augur reaches 2 million USD in bets on Midterm election in the United States
Nov 8, 2018 by Rico Wise

Jeremy Gardner, the co-founder of Augur, has claimed that within the period of the US midterm election, people place their bets on the result of the election, and while originally the amount of bets hit 900,000 US dollars, currently it has exceeded the 2 million USD mark, which is a figure 60% higher than Betfair, which is the largest betting platform on the globe.

Augur was deployed on the Ethereum blockchain back in July, and is often referred to as the most elaborate decentralized application on the platform. Since its introduction, the dApp has experienced a substantial growth in the number of bets and active clients.

The chief executive of BKCM, Brian Kelly, stated back in July that the entrance of Augur signified the progress that Ethereum has achieved within the span of the past year, especially scalability-wise, as it can manage the high transaction output demanded by decentralized apps such as Augur.

Over the past week, after registering a 5x growth in the quantity of active clients, Augur displayed a stake exceeding 2 million US dollars on merely one topic – the US midterm election, making evident the advancement and growth of the project since the moment of its launch. The daily volume managed by Augur surpasses the same of the top-5 games based on the Ethereum blockchain and approaches the volume of the biggest decentralized exchanges, such as IDEX and ForkDelta.

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