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Low User Number is One of the Challenges Augur Faces - Augur (REP) News. Sunday, September 16

16 september 2018, 18:10 by Jofor Humani

Augur (REP) Cryptocurrency News

Low User Number is One of the Challenges Augur Faces

The token economy of some platforms in the coin ecosystem will continue to amaze even the smartest economists. Augur (REP) presently has a market cap of $150 million but the decentralized application (dApp) of the platform has barely 40 users. One starts wondering how there is so much economic activity on a project with utility so low and concludes that the coin market is fundamentally a speculative one.

Augur is the decentralized prediction (gambling) platform. Perhaps operating in the competitive and restrictive gambling industry is a challenge on its own. However Augur solved the problem associated with the highly regulated industry by floating a decentralized platform that is not within the purview of any jurisdiction.

The betting dApp based on the Ethereum network makes it possible for people to place bets irrespective of their geographic location and not be restricted by regulatory factors. But you can use betting sites which accept Ethereum.

The dApp which took the team 3 years to launch caused the price of the REP token to surge to $40 after launch but with the bear market and technical challenges associated with updated of the decentralized application, the interest in the platform has waned considerable that in recent times, DappRadar data shows that Augur has had just 37 users in the past 24 hours.

The Augur team is working on how to ensure greater user participation as some have complained that updating the dApp sometimes takes more than 2 hours.

Augur (REP) Down By 2.55 Percent Against the USD

The prevailing bear market makes REP a tricky token to trade. The token is presently trading at $13.30 down by more than 2.55 percent compared to its price in the past 24 hours. It lost 3 percent to BTC and 4 percent to ETH which is the surprising in the lead in the recent market bounce.

Bithumb and Binance are the major exchanges that traded the REP exchanging 43 and 21 percent respectively. 

REP/USD Price Chart, Sunday September 16th:

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