For anyone who does not know what Augur or unheard of before!
Welcome to the future of prediction
Augur combines the magic of prediction markets with the strength of the decentralized network to create an astoundingly accurate forecasting tool, providing an opportunity for real money trading profits.
A simplified explanation of what Augur is and how it works
Get reward for your knowledge and insight
Augur is a market platform to predict your reward versus correctly predicting real world events in the future.
Predicted the outcome of events in the real world
You can express your expectations by trading virtual shares in the results of events occurring in the real world. If you think Hillary Clinton will elect a president, Yankees will win the World Cup, or Leonardo DiCaprio will win another Oscar, she will buy shares in those results. If you buy shares in the right results, you will earn financial profits.
Earn real money trading profits
The stock prices you trade in any case amount to up to $ 1 - it may cost you to buy a stake for every probability of 50 cents. If you end up right, you'll get a dollar for every share you buy. If you're wrong, you'll lose the money you bought the stock. As with any market, stock prices fluctuate all the time. The greater the demand for shares in a result, the higher the price of this result and the lower the price of other results. This gives you more opportunities to profit, by buying shares at a low price and selling them at a higher price, before you know the end result of the market.
Amazingly accurate predictions on any subject
Augur's prediction markets provide strong predictive data - you can think about the current market price of any stock in any market as an estimate of how that outcome might actually happen. For example, a share price of 64 cents may occur with a probability of 64%.
The accuracy of the prediction markets lies in the notion of "crowd wisdom". This indicates that the average prediction of a group is higher than that of any member of that group. Markets are the best way to pool this collective wisdom, which consists of all the information, analysis and opinions of group members. With these individuals who buy and sell stocks in real world events, based on their personal knowledge and opinions, market prices reach a balance that reflects the view of the whole group.
Forecast markets have proved to be more accurate in predicting the future of individual experts, surveys or traditional polling. They provide real-time predictive data and are traded using real money, which motivates market participants to
reveal what they think will happen, rather than what they hope will happen.
Decentralization: The secret weapon of Augur
Their decentralized network gives Augur unique advantages compared to other prediction markets:
No central servers
Augur is a decentralized platform established on the Ethereum blockchain, which means no centralized servers.
The possibility of creating markets
Using Augur, anyone, anywhere in the world, can create a market to predict quickly and easily by asking a question about anything. As the market creator, you will provide initial market financing, while you will receive half of your trading revenue collected from the market.
Low fees
Augur fees are set by users, which is much lower compared to traditional trading platforms and betting.
Collective report
In the central markets, one person determines final market results, which is likely to be errors or overt manipulation. With Augur, we will have thousands reporting reports on the market
In the central markets, one person determines the final market results, which means that there can be errors or overt manipulation. With OGUR, users will have thousands of collective reports of market results using one compatibility-based system and one code called REPUTATION. As a Rapporteur, you will report on the events every two months, and in return, you will receive half of the fees available in the system multiplied by the percentage owned by REP.
Secure and automatic payments
All funds are stored in smart contracts, thus eliminating counterparty risk and allowing the payment mechanism and payments mechanism to successful traders. Funds are also deposited and withdrawn completely automatically using blockchain. With no human intervention required, there is no human error.
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http://www.augur.net/
Their new whitepaper came out a few days ago and a lot has changed in terms of the reporting and dispute mechanisms!