Augur is a decentralized prediction market platform based on Ethereum blockchain technology. Users can use digital currency to make predictions and bets, and rely on the wisdom of the crowd to predict the development of events, which can effectively eliminate counterparty risks and server centralization risks, and at the same time use cryptocurrencies (such as Bitcoin) to create a global sex market.

Augur is a decentralized prediction market platform built on the Ethereum platform. Using Augur, anyone can create a prediction market for any topic of interest (such as who will win the US election) and provide initial liquidity, which is a decentralized process.

In return, the creator of this market will receive half of the transaction fees from the market. Ordinary users can predict, buy and sell stocks on Augur based on their own information and judgment, such as the US presidential election. When the event happens, if you predict correctly and hold the stock with the correct outcome, you will get $1 per share, so your income is $1 minus the original purchase cost. If you predict wrongly and hold stocks with wrong results, you will not be rewarded, so your loss is the original cost of buying.

Many factors make Augur different from traditional prediction markets, but the most important difference is that Augur is global and decentralized. Anyone around the world can use Augur, which will bring unprecedented liquidity, trading volume, and a variety of perspectives and topics to Augur that traditional exchanges have never had.

Project Highlights

The existing decentralized network gives Augur a unique advantage over other prediction markets.

1. No central server

Augur is a decentralized platform built on the Ethereum blockchain - meaning there are no central servers that can be shut down.

2. Create your own market

Using Augur, anyone anywhere in the world can quickly and easily create a prediction market asking about anything. As a market creator, you will provide some initial capital to the market and in return receive half of all transaction fees charged for the life of that market.

3. Low cost

Augur's fees are set by users and are much lower than traditional trading and gambling platforms.

4. Crowdsourcing report

In a centralized market, one person decides the final market outcome - which means errors or outright manipulation are possible. With Augur, we will report thousands of market outcomes using a unique consensus-based system and a unique token called REPutation. As a reporter, you will report on incidents every two months and in return receive half of all fees in the system multiplied by the percentage of REP you own.

5. Safe automatic payment

All funds are stored in smart contracts - eliminating counterparty risk and allowing fast, automatic payouts to winning traders. Deposits and withdrawals are also fully automated using blockchain. No human intervention required, no human error of any kind.

Application scenario

Augur is a prediction market platform that rewards you for correctly predicting future real-world events.

1. Predict the outcome of real-world events

If you think Hillary Clinton is going to be elected president, the Yankees are going to win the World Series, or Leonardo DiCaprio is going to win another Oscar, then you're going to buy shares of those outcomes.

2. Earn real money trading profits

In any case, the shares you're trading add up to a dollar - so if you buy a stock occasionally, it will cost you 50 cents. If it turns out to be correct, you'll get a dollar for every stock you buy. If you're wrong, you've lost the money you used to buy the stock. Like any market, stock prices fluctuate over time. As more people buy shares, the price of this outcome will rise, while the prices of other outcomes will fall. This gives you further opportunities to profit - by buying low and selling high before the final outcome of the market is known.

Related information:

One article to understand the operation of Augur market economics

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