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AugurLite launched for betting on 2020 US elections

AugurLite launched for betting on 2020 US elections
It is being reported by Yahoo Finance that prediction market and derivatives platform Veil recently announced the launch of what is being called "AugurLite," a new version of the protocol that is meant to have support specifically for the 2020 US elections. The need for this is because the Augur platform will be updating sometime this year, meaning it cannot support a long-term prediction market that will carry it into 2020.
Recently Paul Fletcher-Hill, Veil co-founder and CEO, was speaking at the Token Summit conference in New York whenn he had the following to say on the project:
"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]."
As outlined in a Medium blog last year, the coming upgrade to Augur will require a migration of all tokens to the new network. This means any bets on the network at the time of the upgrade would be "susceptible to dispute" afterward. This makes it impossible to make a predictive market that is intended to last well into late next year.
Because of the demand, Veil made a modification to the existing Augur network and launched AugurLite. The main, and most controversial, difference is that AugurLite doesn't use oracles. Oracles are how the Augur blockchain gets access to real-world data, and part of the draw of Augur is that it has a native oracle built in. AugurLite will use third party oracles to resolve its bets.
This concerns some in the space, as they see this as less trusted and more centralized.
Hey @veil why did you fork Augur?

Seems like you're losing the pieces that made Augur interesting--global liquidity & trustlessness
See Ryan Sean Adams's other Tweets
Like it or not, AugurLite is not actually meant to replace Augur, and no doubt the main blockchain will support the same prediction markets for the 2020 election, just not until after the planned upgrade.




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