Augur

Decentralized, open-source platform for prediction markets.

Basic facts

Augur is a fully open-source and decentralized prediction market platform built on Ethereum, a blockchain technology that allows for the execution of smart contracts… Early development of the software began in autumn 2014, and an alpha version was released in June 2015. From August to October 2015, a global crowdfunding campaign raised US $5.2 million in cryptocurrency to support future development. A beta version was released in March 2016. Live release is currently projected for somewhere in 2017. Source: Wikipedia

Why Blockchain?

The Augur project seeks to leverage the open, global, peer-to-peer ledger functionality that blockchain technology provides, as well as game theory and financial incentives, to better explore the concept of the wisdom of crowds (also known as collective intelligence) and try to get more accurate predictions about future events. The specific technologies used would theoretically allow for more participation and volume compared to traditional betting platforms, therefore augmenting the quantity of markets available and their accuracy.

On Augur, anyone, anywhere in the world can instantly create a market on his topic of choice…, with no need for centralized approval, can freely participate in all markets, and will lose a minimal amount of money to fees. Another important advantage is the reduced possibility of fraud and counterparty risk: monetary exchanges on the platform are strictly regulated by smart contracts and a distributed oracle system ensures that no one can claim a false result on an event. Source: Wikipedia

Note

This site just shall give you a first impression of the depicted application. Please contact us, if you are interested in a detailed analysis of a specific use case or branch.