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There’s Less than $100k at Stake on Ethereum Gambling DApp Augur



Tetras Capital Founding Partner Alex Sunnarborg has revealed that decentralised gambling platform Augur is suffering from the same lack of volume that continues to plague the decentralized application (dApp) ecosystem at large. Reacting to the platform’s weekly report released on January 9, Sunnarborg stated 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 achieved across a total of 1,724 markets. Writing on Twitter, however, Sunnarborg tore into this valuation, stating that it includes already concluded bets which when removed present a different picture of the platform’s adoption.

DApp Hype Versus Adoption Reality

In his Twitter post, Sunnarborg said:

Buttressing his point about low Augur usage in another post on the same thread, he said:

It will be recalled that this is not the first time that the low adoption of dApps compared to expectations has attracted attention. In August 2018, CCN reported that the number of dApps with more than 300 active daily users across both Ethereum and EOS came to just eight in total. This came in spite of the continued growth of dApp development, particularly on the Ethereum network, which hosts Augur. In November, Augur did record close to $2 million in bets on the US midterm elections, but this turned out to be a false dawn for the platform which has not taken off as many dApp developers hoped it would.

Augur Assassination Markets Spark Controversy

Donald Trump Cryptocurrency
Augur users have placed bets on whether US President Donald Trump will be assassinated.

The platform has also faced controversy about the desirability of its advertised absence of censorship. At launch, Augur was marketed as a fully decentralised betting platform that would give users the ability to open markets on just about any kind of bet without the threat of removal. Predictably, this led to the embarrassing appearance of assassination markets on US President Donald Trump and Amazon founder Jeff Bezos. The platform also recorded bets on the survival of actress Betty White and the late US Senator John McCain.

Beyond ethical considerations and problems specific to Augur, Sunnarborg’s observations raise more questions about the long term usability of dApps. Some have pointed to such low user figures as proof of the fundamental failure of dApps to deliver on their promise. Speaking in August, however, Gnosis founder Martin Köppelmann insisted that the success of dApps should not be measured by user numbers. According to him, the true measure of dApps’ success lies is in how many dApps are created and use contracts from other dApps.

Amidst the lack of user enthusiasm for dApps, one bright spot over the past few months has been TRON. In December , CCN reported that recorded over 100 million transactions in 173 days across 50 dApps and 1 million accounts. Perhaps buoyed by this, TRON founder Justin Sun recently issued a taunt to Ethereum and EOS, announcing his intention to launch a fund to poach developers from the two blockchain platforms.

Source. ccn



Ethereum [ETH] ProgPow technical audit will be conducted by Least Authority



Hudson Jameson, a core dev of Ethereum Foundation, released an update on Programmatic Proof-of-Work [ProgPow], on the official blog of Ethereum Cat Herders, on March 25. According to the report, Ethereum Cat Herders are responsible for two tasks related to the ProgPow implementation; ‘Gauge the community sentiment’ and ‘general consensus’ of the Ethereum community, and its technical audit.

On the technical audit side, the Ethereum Cat Herders decided that the audit would be conducted by the Least Authority, a security consultancy. Notably, this is not the first time that Least Authority is performing an audit on Ethereum. Previously, the consultancy performed one of the most elaborate audits on Ethereum, gas economics, and PoW puzzle. Least Authority has also performed an audit for another leading cryptocurrency project in the space, ZCash.

The blog read:

“Please note that the timeline contained in this version of the audit proposal is inaccurate. The timeline for the audit is currently unknown until the audit is funded and technical details of the audit are finalized with the auditor.”

Hudson further stated that the Cat Herders were seeking funding for the ProgPow audit from a “variety of sources”. This included miners, community members, and organizations in the Ethereum ecosystem. The team also created a Gitcoin account specifically for ProgPow funding, with a monthly goal of 50,000 DAI. At press time, the funding for the ProgPow implementation was 0 DAI. The post said,

“Note that the Gitcoin grant will only be for a portion of the funding and we will rely on larger organizations and others to contribute. We appreciate everyone who is contributing to this audit!”

Previously, there were doubts pertaining to the implementation of ProgPow and its timeline, however, these concerns were addressed by Hudson in a Reddit post. He stated:

“In summary, a decision was made to move forward with ProgPoW, but no timeline was given as to when it would be activated in a hard fork. It may be activated in its own fork or with Istanbul. If an issue is found by the ProgPoW audit, we may not go forward with implementing and activating ProgPoW.”


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Ethereum market update: ETH/USD grinds closer to a triangle breakout



  • Ethereum price has remained unchanged current market value since the weekend trading.
  • A breakout is expected in the coming sessions today as price grinds higher toward the triangle pattern resistance.

ETH/USD closed last week’s trading at $137. The weekend session was mostly characterized by stability. However, there was a slight retracement that found support marginally below $15.00. Ethereum price has remained unchanged current market value since the weekend trading.

The 1-hour chart shows the price below both the 50 SMA and the 100 SMA. The two Simple Moving Averages will limit upward movement from the support mentioned above. $138 is the immediate breakout point for Ethereum. Trading above this level could open the path to the second resistance at $140 before tacking mid-March resistance at $146.

Similarly, a breakout is expected in the coming sessions today as price grinds higher toward the triangle pattern resistance. As far as technical levels are concerned, the RSI shows that sellers will continue to control the price. Although the MACD is horizontal, it is stuck beneath the mean line (0.0) and needs a push back into the positive region for ETH/USD to gain momentum towards $140. Below $135 short-term support, Ethereum will find other support levels at $132, $129 and $122.

ETH/USD 1-hour chart

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Is Ethereum Really ‘A Thing of the Past’ As Tron’s Justin Sun Claims?



The co-founders of Ethereum and Tron have recently engaged in a battle of wits on Twitter. In a recent interview, Vitalik Buterin, the co-founder of Ethereum had commented on the competition between Ethereum and Tron. He claimed that he would “lose hope in humanity” if Tron usurps Ethereum.

Justin Sun came with a witty response on Twitter satirically praising Ethereum while at the same time diplomatically placing it to a veteran status; a thing of the past. Recently, a Chinese Institution also ranked Tron above Ethereum in its list of Public Blockchains.


Ethereum vs Tron: Let’s Look At the Facts

Ethereum, released in 2015 is the pioneering Dapps Platform currently placed second w.r.t total market capitalization. Tron Foundation was initiated in 2017 on the Ethereum platform itself. However, it is far more capable than Ethereum in terms of scalability and has also implemented Proof of Stake (PoS) on its Blockchain. Tron is currently ranked 11th w.r.t total market capitalization.

Transactions per day

Ethereum transactions
Ethereum transactions per day chart

The transactions per day on Tron are four times that conducted on the Ethereum platform. Therefore, the usability of Tron seems greater than Ethereum. The number of Dapps that follow TRC-20 protocol is also increasing at a rate of one new Dapp every second day.

While the number of transactions executed on Tron per day is ranging in the 1.5 M to 2.9 M range, there is significant volatility in the ‘number of transactions’ on Tron. The transactions are varying by 1.5 million in a span of fourteen days. The number of transactions on Ethereum is primarily in the 500k-600k range.

Tron transactions
No. of transactions per day on Tron

The race to the Top

The Total Market Capitalization of Ethereum is almost $13 billion more than Tron. The total circulating supply of Tron is 66.68 billion, while the total quantity of Ether (ETH) tokens is 105.5 Million. Therefore, to overcome a difference of 13 billion dollars, Tron would have to gain ten times its current valuation while the price of Ethereum remains the same. Looking at the current statistic and development of Ethereum, Buterin’s Ethereum might have the upper hand.

Nevertheless, the growth of Tron has been exponential in the past year. The risk vs. reward ratio on Tron is also comparatively less than Ethereum at current prices. Moreover, Tron leads in front of Ethereum in terms of technical prowess. Hence, only time will tell whether Justin Sun’s claims are really true.

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