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Augur is an open-source, decentralized prediction market built using blockchain technology. A demo of an alpha version of the platform was released June 15, 2015. The project was funded by a crowdfunding campaign, raising more than US $5 million in 45 days (Over 18,000 BTC and 1.1 Million Ether).As of October 2015, the campaign is ranked as the 20th highest funded crowdfunding project of all time with up to 4,800 crowdsale participants in total from every continent expressing interest in financially supporting the project and becoming system referees. The software is projected for beta release on Christmas 2015 and live release by Spring 2016.
The project seeks to leverage the "Wisdom of Crowds" (also known as "collective intelligence"), game theory, financial incentives and the open, global, peer-to-peer, distributed ledger functionality that blockchain technology provides to generate better forecasts about any future event involving any major topic of widespread interest. The group's mission is to create a decentralized "Early Warning System for Everything" that has no potential central points of control, failure or censorship and no middlemen.
Augur is one of the first applications being built on Ethereum, a decentralized computing platform featuring digital contracts and a turing-complete programming language. The underlying network unit utilized by Augur is known as Reputation, which will be the unit used by the platform's referees to report event outcomes (whether predictions happened or not), whilst Bitcoin and Ether will be used for speculating on predictions. Augur can be used as a distributed oracle system, allowing other smart contracts to propose questions to it and allowing them to discover information about the real world without trusting a third party.
- Maximum Supply: 11,000,000
Join Augur Project on Slack.