Cryptocurrency Market Regains $7 Billion As Augur And EOS Prices Jump

The crypto market has rebounded by $7 billion over the past 24 hours, following the volatility that was caused by some of the top coins including Bitcoin, Ethereum and other major cryptocurrencies in the global market.

One of the leaders of this new rise has been Augur, the cryptocurrency that deploys smart contracts on an Ethereum mainnet. As soon as the team behind the coin announced that their smart contracts will be live on the Ethereum mainnet on July 9 this year – the coin skyrocketed by around 10 percent.

According to Joey Krug who is the founder of Augur, there are many plans for the future of this cryptocurrency. As he revealed in a statement earlier yesterday:

“We’ve shipped production vuln free code before on Ethereum like the original augur sale smart contract which handled 1M ETH. We’ve been writing contracts on Ethereum since before solidity was even a language,”

Krug also stated that developing a solution to solve the consensus on real-world events has been difficult, stating:

“Solving consensus on real world events was initially a research problem, we thought some previous literature had solved it, but it turns out it really hadn’t and had severe scalability and inventive flaws the more we audited it. It’s imo about as difficult as solving PoS. 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 endeavors,”

Bitcoin and Ethereum’s sluggish performance, on the other hand, prevented many other tokens and small cryptocurrencies from rising to the top and recording gains over the past week. Aside from Augur, EOS also surged and followed the rise of this cryptocurrency.

Let’s just hope that the market stabilizes soon and continues the nice growth.