Augur is another cryptocurrency based on the ever-popular Ethereum blockchain. The decentralised Augur platform took a while to emerge With initial funding having been launched in August 2015, the project eventually went live in July 2018. Augur enables users to create prediction markets, providing innovation and advance over betting exchanges such as Betfair.
7 Days Change
How Does Augur Work?Augur really places the emphasis on its decentralised protocol, enabling peer-to-peer prediction markets to be implemented. It is a really interesting concept. Users of the site can speculate on a wide variety of markets, enabling them to create, manage, and trade across this marketplace. There is an aspect of futures trading to the Augur model, and this has been forged from traditional betting market activity to create a vibrant and innovative platform. Traders are provided with more flexibility for long and short positions and Augur effectively provides an opportunity for people to put their money where their mouth is, without the limitations of traditional betting exchanges, or the problems associated with the heavily regulated stock market.
Who Created Augur?
As mentioned previously, Augur was originally founded in 2014. Jack Peterson and Joey Krug are the two individuals to which this can be most readily attributed, although they also sought significant support from the Forecast Foundation. During the founding of Augur, Intrade founder Ron Bernstein and Ethereum founder Vitalik Buterin were also heavily involved.