What is Augur ?
Augur is a decentralized prediction platform, based on Ethereum blockchain. The main goal of the platform is providing betting services in a crypto – friendly environment.
In Augur’s network, any user can create a market and begin to trade shares of this market, based on a market outcome. The most common example in betting is sports betting. In this case, a user can buy a share on winning the home team in a specific game. If the team is winning, the user can sell the share at higher stakes or choose to hold the share until the end of the game and claim its earnings from the market pool.
Augur begin in 2014, with its co-founders Jack Peterson and Joey Krug to announce its common project. A beta version was released in March 2016 while the coin was accepted to the crypto exchanges Poloniex and Kraken.
The use of the network for betting purposes in different events creates a solid base for developing new applications on the top of it. The applications are on the field of risk taking and return – awarding to user through the platform, finding applications in the financial system.