Single Ethereum user accounted for almost half of the profit earned by Augur

As per a recent report, a tool which was developed by Mike McDonald, an Ethereum developer, has revealed that a single address had gained around half of the total profits from Augur.

Augur is a decentralized estimation marketplace. It was also one of the first crypto projects to hold an ICO on Ethereum way back in 2015.

The address ‘0x008c84421da5527f462886cec43d2717b686a7e4’ was revealed stating it to be a highly active one. The address owns several tokens and various CryptoKitties and also is active in participating in other games.

Kevin Rooke, A journalist and an analyst who covers Cryptocurrency and Blockchain technology, gave the details of the single address tweeted “One Augur trader has made over $100,000 (856 ETH) in profit from 177 trades. This one address has earned almost 50% of all realized Augur profits. Perhaps the first person in the world who can claim the title of ‘full-time Augur trader.”

Currently, the tool will only provide the list of addresses that have created the most money but is not competent enough to efficiently ascertain as to which Augur predictions markets a user or an address has participated in. However, McDonald is working on the tool which would be able to provide the entire details related to the transaction.

The tool revealed that this particular user has earned more than 850 Ether from his bets. The next in line has made just 136 Ether which is over 700 less than the front-runner. As we go down the list, the number gets further reduced.

At the Augur platform, one can place their bets on any of the upcoming future events which may be related to either the sports industry or even impeachment of proposed officers. The goodwill of Augur is such that the participants are propelled to participate in a fair manner. Within this platform, any user can develop tools around it depending on their preferences. Though it also provides an in-built template for implementation which is based on the technology provided by the Edge Wallet.

The entire crypto world is at its peak for negative sentiments due to the recent major correction which saw a majority of the crypto coins lose value throughout the entire 2018. This has led to the reduction in interest of blockchain-related products including the gambling services. The enthusiasm and participation in the blockchain industry entirely depends on the performance of the major crypto coins.

There was a piece of recent news that stated that Augur was not a platform which was excessively used. However, the bet game can see success only when the user acceptance and participation are higher, and Augur is no different.

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