Augur, an Ethereum-based betting platform, has launched its new sports betting platform Augur Turbo that is powered by Chainlink data feeds and Polygon.
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 Wealth Growth Insights reported, in July of 2019, Augur closed its previous betting product Veil.
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