A user earns $100K through a decentralized application on the Ethereum network
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Answer A user earns $100K through a decentralized application on the Ethereum network
2018 was not linked to the success of the cryptocurrency market and it is no secret that Bitcoin fell by 70% as other cryptocurrencies, such as Ethereum, Ripple, etc., recorded similar, if not more severe, losses in 2018.
With this downturn, cryptocurrency investors lost portions of capital. However, one of them, who was somewhat unknown, managed to make good money in an unconventional way.
Profits exceeding $100,000 via a decentralized application on the Ethereum network
An anonymous user made over 856 Ethereum (ETH), which at the time was valued at over $100,000 (previously much higher).
While this number is really staggering in and of itself, this investor raised as much as $100,000 in 177 transactions, an average of $564 per transaction via an Ethereum dApps.
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How did the user make so much profit?
Well, according to Kevin Roque, a Canadian crypto researcher, who cited data from programmer Mike McDonald, the user has achieved a major breakthrough with Augur app.
It is a “DApp” based on the Ethereum network and focuses on the process of prediction and betting. In previous reports on the NewsBTC news site, it was stated that the long-awaited project that had been running one of the first successful initial coin offerings, launched in mid-July to widespread media hype.
However, just six months later, the platform was launched which optimists claimed would single-handedly put Ethereum back on track. In fact, the mentioned user got 50% of “all profits earned” via the “Augur” platform.
It is worth noting that Augur has a digital currency called REP. The cynics say that making $200,000 in profits via the platform is a negative rate and does not reflect the large scale of the project.
Read:Binance’s investment arm sets aside $500 million fund to focus on web 3 . companies
However, this lack of volume associated with the platform could change with the emergence of a new offering centered around predictions and betting.
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