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The founding partner of Tetras Capital, Alex Sunnarborg, revealed that the Augur decentralized gaming platform suffers from the same lack of volume that continues to plague the decentralized application ecosystem (dApp) in general. Reacting to the weekly platform report released on January 9, Sunnarborg said that the total volume of active markets on Augur is, in fact, less than $ 100,000.
In the report, Augur placed the total value of bets placed on the platform at $ 2,040,934.63 (13.451 ETH). This value was reached on a total of 1,724 markets. Writing on Twitter, however, Sunnarborg included this assessment, stating that it includes bets that have already been closed and that, once removed, present a different image of the platform's adoption.
Daff Hype versus Adoption Reality
In his post on Twitter, Sunnarborg said:
Augur metrics showing ~ $ 2m of total cash in play & # 39; include markets that are already finished.
If we exclude the markets that are finished, there is a total of $ 100,000 in play on Augur.@AugurProjecthttps://t.co/Lrxr1GWCqLhttps://t.co/aw2PvBkV7A pic.twitter.com/2AtOA14rj9
– Alex Sunnarborg (@alexsunnarborg) 10 January 2019
Claiming his point on Augur's low use in another post on the same thread, he said:
The biggest market is <$10k on ETH > Capitalization of the BTC market at the end of 2019. pic.twitter.com/S0TQxv2j7e
– Alex Sunnarborg (@alexsunnarborg) 10 January 2019
It will be remembered that this is not the first time that the low adoption of dApps with respect to expectations has attracted attention. In August 2018, CCN reported that the number of dApps with over 300 daily users on Ethereum and EOS has reached just eight in total. This happened despite the continued growth of dApp development, particularly on the Ethereum network, which hosts Augur. In November, Augur recorded nearly $ 2 million in bets on the US mid-term election, but this turned out to be a false dawn for the platform that did not take off as many developers at dApp were hoping for.
Augur Assassination Markets Spark Controversy
The platform has also faced controversy over the desirability of its advertising absence of censorship. At launch, Augur was marketed as a completely decentralized betting platform that would give users the ability to open markets on virtually any type of bet without the threat of repression. As was predictable, this led to the embarrassing appearance of the assassination markets on US President Donald Trump and on Amazon founder Jeff Bezos. The platform also recorded bets on the survival of actress Betty White and the late American senator John McCain.
In addition to the ethical considerations and specific problems of Augur, the observations of Sunnarborg raise further questions about the long-term usability of the dApps. Some have indicated such low figures as evidence of the fundamental failure of dApps to keep their promises. Speaking in August, however, the founder of Gnosis Martin Köppelmann insisted that the success of dApp should not be measured by the numbers of users. According to him, the true measure of the success of dApps lies in the number of dApps created and use the contracts of other dApps.
Among the lack of enthusiasm of users for dApp, a bright spot in recent months has been TRON. In December, CCN reported that it has registered over 100 million transactions in 173 days out of 50 apps and 1 million accounts. Perhaps encouraged by this, the founder of TRON Justin Sun recently launched a provocation to Ethereum and EOS, announcing his intention to launch a fund to hurl the developers from the two blockchain platforms.
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