Categories: Ethereum

Ethereum Goes to Phase 2, Following Launch of Most Complex Dapp


At the RISE conference held in Hong Kong, the largest technology conference in Asia attended by 15,000 attendees, Ethereum blockchain protocol after years of development.

The launch of Augur on the smart contract protocol of the Ethereum blockchain took longer than any other project currently in existence due to the difficulty of deploying its prediction market on a decentralized network that relies on smart contracts to esttle information.

In May, Krug said:

“Augur’s about 10x more complex than the second most complicated ethereum project, makerdao, which has about 10 contracts vs augur’s 100 [complexity isn’t a good thing, and the augur team has tried to make it as simple as possible, it’s just a really complicated endeavor].”

“Engineering dapps is more risky than engineering underlying blockchains imo. It’s also harder, having been involved with both,” he added. “An underlying chain has no UI, little UX concerns, can fork if it runs into trouble, and doesn’t have to be *easily accessible* in a decentralized way.”

As the layer one blockchain protocol of Ethereum improves in security and layer two solutions provide scalability, complex projects and sophisticated dApps that require significant amount of data processing capacity to perform — which include decentralized exchanges, prediction markets, and stock markets — will be able to perform and operate seamlessly.

Joseph Lubin Image from YouTube

Featured image from Shutterstock and charts by Tradingview.
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