{"id":21817,"date":"2018-07-10T16:14:47","date_gmt":"2018-07-10T16:14:47","guid":{"rendered":"http:\/\/ci027cfe6f800f2697"},"modified":"2018-07-10T16:14:47","modified_gmt":"2018-07-10T16:14:47","slug":"augur-launches-decentralized-prediction-marketplace","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/augur-launches-decentralized-prediction-marketplace","title":{"rendered":"Augur Launches Decentralized Prediction Marketplace"},"content":{"rendered":"
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Augur<\/a>, a blockchain-based predictions platform, has opened to the general public. The platform becomes the \u201cworld\u2019s first\u201d decentralized prediction-market platform.<\/p>\n

Augur was created by the Forecast Foundation<\/a>, a not-for-profit corporation whose goal is to build \u201copen-source, public forecasting tools.\u201d<\/p>\n

Prediction markets \u2014 which are a general type of financial market \u2014 have long been dominated by the likes of Paddy Power<\/a> and DraftKings, which are centrally owned, operated and regulated. <\/p>\n

This centralization causes all kinds of problems, such as restrictions for users in certain regions, higher associated costs to use and limitations on the types of markets that users could create.<\/p>\n

A key differentiator for Augur is its global and decentralized nature<\/a>.<\/p>\n

With the launch of the platform, anyone, anywhere, can launch their own events and bet on them. This also allows the platform to create a higher level of liquidity and volume, as well as a diversity of topics not typically covered by traditional prediction markets.<\/p>\n

Beyond trading, Augur also solves a key problem by moving \u201creal world information\u201d onto Ethereum\u2019s blockchain in a secure manner where results can\u2019t be altered. <\/p>\n

Vitalik Buterin, founder of Ethereum and advisor to the Forecast Foundation, while commenting on the launch of Augur\u2019s decentralized platform said, \u201cI have been excited about the possibility of prediction markets on Ethereum for a long time, and I\u2019m pleased to see Augur being a leader in releasing such a sophisticated system into the wild.\u201d<\/p>\n

Furthermore, the platform ensures that events in the markets are accurately reported on. It does this by incentivizing users to report and correct \u201cmarkets that have been incorrectly reported on\u201d in exchange for \u201cfees from the market\u201d and a chance to earn more Reputation (REP<\/a>) tokens \u2014 which is the cryptocurrency associated with Augur.<\/p>\n

Tom Kysar, head of operations at the Forecast Foundation, said, \u201cToday\u2019s launch of Augur represents three years of relentless work to realize the goal of creating the first \u2014 and best \u2014 decentralized oracle and prediction-market platform.\u201d<\/p>\n

Augur raised<\/a> about $5 million in its initial coin offering (ICO), and its REP token, which launched<\/a> in October of 2016, now has a $384.1 million market capitalization<\/a>.<\/p>\n

Don\u2019t miss the Fireside Chat at Distributed 2018<\/a> in San Francisco on Friday, July 20, when Augur co-founders Joey Krug and Jeremy Gardner will discuss Augur\u2019s journey, as well as the importance of prediction markets. Register here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Augur, a blockchain-based predictions platform, has opened to the general public. The platform becomes the \u201cworld\u2019s first\u201d decentralized prediction-market platform. Augur was created by the Forecast Foundation, a not-for-profit corporation whose goal is to build \u201copen-source, public forecasting tools.\u201d Prediction markets \u2014 which are a general type of financial market \u2014 have long been dominated […]<\/p>\n","protected":false},"author":3435,"featured_media":21818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[3435,3240,1881],"class_list":{"0":"post-21817","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-augur","9":"tag-icos","10":"tag-reputation"},"author_data":{"id":3435,"name":"Jimmy Aki","nicename":"jimmy-aki","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/jimmy-aki-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/augur-launches-decentralized-prediction-marketplace.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3435"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=21817"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/21818"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=21817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=21817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=21817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}