The cryptocurrency space has gone into development mode in Q2 2018 as most project focus on providing a developed product at least by the end of the year. With the extensive spotlight placed on cryptocurrencies being shed away gradually since December 2017, the development teams have gone deeper into work anticipating an upcoming bull run. One of the major moves these teams are taking is getting their own blockchain.
“On July 9th, 2018 at 18:01 UTC (11:01AM PDT), the current REP token contract will be frozen indefinitely, and the automatic migration of REP balances will begin. If you are a REP holder or user of a centralized exchange or non-custodial decentralized exchange, there is nothing you need to do.”
Tron (TRX) is launching its Main net at the end of the month, as it migrates to its own blockchain, VeChain(VET) blockchain has launched its blockchain VeChainTHOR and recently Augur (REP) project have declared independence from Ethereum with their own Main net set to be launched later in July. After migrating from the Serpent programming language, due to its low privacy and low security measures to a friendlier Solidity in July 2017, Augur blockchain is moving tabs again.
Genesis Augur Main net
Augur blockchain has been in development since 2015. Most experts and critics in the crypto field have acknowledged its technology terming it as ‘one of the most revolutionary’ amongst its peers. The Augur team recently announced its plans to deploy the new Augur project that will see all REP tokens moved to the new ‘Genesis Augur universe’.
The development team through an announcement on its Medium page confirmed that the Augur project will finally launch its Main net. In the last exodus, all REP balances on the Serpent smart contract were copied on to the Solidity program with little interference in the tokens transfer. The statement released on Thursday also confirmed that this time, the process will take a better approach to making it easier for their users to migrate.
“When Augur is deployed, all current REP token balances must be migrated to a new REP token contract, which will exist within the genesis Augur universe. This process will be similar to when we migrated REP previously; however, this time under better circumstances!”- Augur team on Medium
The decentralized betting platform will start migration of its Reputation tokens (REP) from Ethereum to its blockchain, Genesis Augur, on 9th July. REP users and token holders are urged to move their tokens to centralized or decentralized exchanges.
Numbers on the board- Augur (REP)
The REP token has steadily risen in the past 3 months on the market capitalization rankings on Coinmarketcap. The token currently places 33rd, three places up in the past week as it was listed on Binance crypto exchange. . Binance is currently the second largest trading platform of REP with a fifth of the daily total trading volume occurring on the exchange, a figure only topped by Upbit exchange with 41%. Current trading boards show a 1.50% loss in price the price of REP closing at $53.13 USD.