Augur – Blockchain Predication Market Software

Augur – Blockchain Predication Market Software

ethereum Startups
January 31, 2017 by Hitesh Malviya
425
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. 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
augur blockchain

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.

augur 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.[5] 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.

After an initial desire to build the backend on the Bitcoin blockchain, the Augur team settled on Ethereum, explaining that it currently offers a better development platform for rapid deployment, that making use of Bitcoin as the foundation would not have offered clear security benefits, and that it intends to integrate into the Bitcoin network through sidechains as soon as that technology becomes available.

Here’s what’s truly novel about Augur: It won’t be controlled by any person or entity, nor will it operate off of any one computer network. All the money in the system will be in Bitcoin, or other types of peer-to-peer cryptocurrency, so no credit card companies or banks need to be involved. If the system runs afoul of regulators—and if it’s successful, it most certainly will—they’ll find that there’s no company to sue, no computer hardware to pull out of the wall, and no CEO to lockup in a cage.

People are looking to invest in altcoins, Augur coins would be a great trade deal beacuse of its high market potential.

Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

1 Comment

  • Hello

    Hope this mail finds you well.

    As a way of introduction I am Vijay working as Project Manager with Trescon.

    I am looking to get in touch with the person who wrote the Block Chain blog.

    Could you please help me with the concern persons phone number to discuss about things in detail.

    Looking forward to your quick and positive response

    Thank you

    Cheers

Add a comment

Join Us
AND GET OUR LATEST CONTENT IN YOUR INBOX

SUBSCRIBE 
Your information will never be shared
In a hurry?
No problem, let us help you stay updated!
Subscribe to receive weekly Cryptocurrency News, Articles, Trading Recommendations and ICO Reviews directly to your inbox.
Yes, Subscribe Me!
No Thanks!
close-link

Share This

Share this post with your friends!