Augur (software)

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This article was considered for deletion at Wikipedia on November 30 2019. This is a backup of Wikipedia:Augur_(software). All of its AfDs can be found at Wikipedia:Special:PrefixIndex/Wikipedia:Articles_for_deletion/Augur_(software), the first at Wikipedia:Wikipedia:Articles_for_deletion/Augur_(software). Purge

Template:Infobox Software Augur is a decentralized prediction market platform built on the Ethereum blockchain and the first decentralized application running on Ethereum to make headlines.[1] Augur is being developed by Forecast Foundation that was founded in 2014 by Jack Peterson and Joey Krug. Forecast Foundation is advised by Ron Bernstein, founder of now defunct company Intrade and Ethereum founder Vitalik Buterin.[2] The founders aim Augur to be near impossible for government to regulate prediction markets. They also state that Augur is not necessarily illegal.[3]

After a crowdfunding in August 2015,[3] the project launched in July 2018.

Operation

Augur allows a user to create a prediction market.[4] Augur resolves these prediction markets in two stages: a prediction market stage and an arbitration stage. In the market stage users are able to trade shares between each other, while in the arbitration stage, the markets outcome is decided. In arbitration stage fees are used to subsidize the arbitration process. [5] Augur uses crypto tokens called Reputation (REP) to incentivize reporters on its network to back their reports with tokens.[1] The reputation token holders are entitled to a percentage of the trading fees generated on the platform.[1]

History

Soon after the platform launched, users had created death pools — or assassination markets — on famous people.[2][6][7]

Augur's user numbers dropped off sharply after launch in 2018: from 265 daily users in early July, to 37 on 8 August.[8]

In July 2018, the Commodity Futures Trading Commission noted resemblance of the augur contracts to binary options, which would fall under its jurisdiction.[2]

References

  1. 1.0 1.1 1.2 "Ethereum-powered Augur brings its beta to Microsoft Azure's blockchain cloud" (in en-US). 2016-03-15. https://www.ibtimes.co.uk/ethereum-powered-augur-brings-its-beta-microsoft-azures-blockchain-cloud-1549630. 
  2. 2.0 2.1 2.2 Leising, Matthew (July 26, 2018). "As Crypto Meets Prediction Markets, Regulators Take Notice". Bloomberg. https://www.bloomberg.com/news/articles/2018-07-26/as-crypto-meets-prediction-markets-u-s-regulators-take-notice. 
  3. 3.0 3.1 Lott, Maxim (2015-08-20). "New tech promises government-proof prediction markets" (in en-US). Fox News. https://www.foxnews.com/tech/new-tech-promises-government-proof-prediction-markets. 
  4. Shen, Lucinda (2018-07-09). "Ethereum-Based Blockchain Betting Platform Augur Just Launched. Here's Why It's Not Married to Ether". http://fortune.com/2018/07/09/augur-coin-crypto-rep-vitalik-buterin/. 
  5. Template:Cite
  6. Orcutt, Mike (August 2, 2018). "This new blockchain-based betting platform could cause Napster-size legal headaches" (in en). MIT Technology Review. https://www.technologyreview.com/s/611757/this-new-ethereum-based-assassination-market-platform-could-cause-napster-size-legal/. 
  7. Orcutt, Mike (July 26, 2018). "The latest blockchain use case: anonymously betting on public-figure death pools" (in en). MIT Technology Review. https://www.technologyreview.com/f/611729/the-latest-blockchain-use-case-anonymously-betting-on-public-figure-death-pools/. 
  8. "Blockchains could breathe new life into prediction markets" (in en). The Economist. 9 August 2018. https://www.economist.com/finance-and-economics/2018/08/09/blockchains-could-breathe-new-life-into-prediction-markets. 

Further reading

Yay. This is how Deletionpedia v2 got started. Guaka (talk) wanted to rescue some Wikipedia articles for Coinwiki.