According to an announcement by Augur on Monday, May 24th, Augur Turbo is based on Polygon blockchain’s layer-2 scaling solution. Augur Turbo is an extension of the Augur protocol, which is an easy-to-use, decentralized betting platform with daily markets for sports, with crypto, politics, and current events to follow.
According to Augur, Turbo will give users the ability to create their own on-chain betting markets for sports events in the “NBA, MLB, MMA, and Olympics, with additional support for NFL, college football, soccer, tennis, golf, and e-sports following soon.”
In a technical sense, Augur Turbo is a set of open-source smart contracts developed on Polygon blockchain to settle user-created betting markets. Turbo’s smart contracts require reliable data about the outcomes of a particular real-world event. But this data can not be generated natively on a blockchain, thus requiring an external entity known as an oracle to fetch that data from the real world and relay it on-chain. This is the thing in which Chainlink is battle-tested.
So, to bring secure, cost-efficient data feeds and settlement to Augur’s global sports betting markets, Augur is integrating Chainlink’s widely adopted oracle network into the Augur Turbo platform. Although Turbo has a built-in human-based oracle mechanism, Chainlink will help the platform to settle betting markets in an accurate, transparent, and timely manner. Chainlink will deliver data such as schedules, post-game scores, team and player stats.
Citing high-quality data, reliable nodes, decentralized infrastructure, and transparent performance of Chainlink data feeds, Augur said:
“Because of these benefits, Augur Turbo is designed to use Chainlink to settle sports betting markets, the most popular category of betting markets. Settlement parameters can include the winner of a specific game or season, the number of points earned by a particular team or player, or any other sports-related information. By operating directly on Polygon, Augur Turbo betting markets will be frictionless and cheap to interact with. In the future, we can use Chainlink’s blockchain-agnostic capabilities to further expand into additional blockchains and layer-2 environments as needed.”
Beyond its sports betting project, version two of Augur will continue to exist on layer 1 as Augur Pro. As Crypto Economy reported, in July of 2019, Augur closed its previous betting product Veil.
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