Augur Bets on Bright Future for Blockchain Prediction Markets
"You say prediction market and people are like 'What's that?' - it doesn't sound that important or lucrative or interesting." That's Jeremy Gardner, best known as the director of the College Cryptocurrency Network, talking about the first reactions some may have to his latest project, Augur, the decentralized, blockchain-based prediction market founded by Jack Peterson and set to launch a token crowdsale this spring. Common perceptions aside, Gardner and core developer Joey Krug are out to prove that a platform that allows participants to bet on the outcome of real-world events can be a....
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Augur, a decentralized platform allowing individuals to create prediction markets on a vast array of topics, announced today that it was launching its alpha test."Traditionally, prediction markets have fallen short due to their need for volume in order to be valuable forecasting tools," explained Jeremy Gardner, the Director of Operations at Augur. "Having a global, unstoppable, blockchain-based prediction markets platform means anyone in the world with internet can connect to Augur."However, Augur is not, itself, a prediction market. Rather, it is open-source code for a prediction markets....
Augur, the decentralized prediction market, launched its alpha version on Tuesday. Augur users can wager on the future — whether on the outcome of a soccer match or on an election. If they guess correctly, they win money, if they don’t they lose. By aggregating these bets in advance of an outcome, the idea is that users can make accurate predictions about the future, by tapping diverse opinions. Lead Developer Joey Krug said: “This is the culmination of eight months of work since we started writing Augur, and we're glad to finally release something people can play around with and give us....
Augur strives to bring prediction markets into the future. The tool, which Director of Operations Jeremy Gardner and Core Developer Joey Krug hope to make prediction markets more accurate than ever, comes with great precedent. But Augur believes, with the power of decentralization and open source technologies, theirs' is truly a paradigm shifting project. The decentralized prediction market has been gaining notoriety in recent months, and was even considered a finalist for the biggest breakthrough technology as voted upon by Singularity University at the Exponential Finance Conference for....
Ethereum and smart contracts have a lot of promise and Augur is one of those applications. Cryptocurrency, and the underlying technologies that come along with it, have the potential to disrupt entire markets, forcing them to either fade away or change dramatically in order to remain relevant. Prediction markets are one thing that decentralization could massively overhaul, eliminating points of failure as well as the possibility of cheating or corruption, while retaining the advantages prediction markets have in forecasting outcomes. The blockchain also secures customers’ funds, assuring....
The prediction market Augur that runs on top of the Ethereum blockchain has just announced a partnership with the security and wallet service Airbitz. Augur will utilize the Airbitz Edge Security Platform making the prediction market more accessible to the mainstream with user-friendly encryption that protects private keys. Edge Security Will Benefit....