Augur is a unique platform designed for gambling and event prediction. Inside the platform, participants can place bets on various events. These can be bets on sports events or some minor life events. The main idea of the project is complete decentralization, which excludes sole control from any side. Falsification of results is also excluded. The system is controlled by all users, while they all remain anonymous. To store currency and carry out transactions, augur wallet is used, available for all popular platforms. Augur cryptocurrency allows you to place bets with complete anonymity, in addition, it gives confidence that the outcomes will be reliable and objective.
Principle of operation
The essence of the platform’s work is to use a phenomenon that experts call “the wisdom of the crowd”. This means that the average prediction of many people (the more, the better) is always more accurate than an individual analyst, no matter how good an expert he is. This approach to forecasting is as unbiased as possible, it completely excludes any subjectivity of judgments.
The fact is that the same “crowd” consists of many interests, and, on the whole, is not interested in any particular event occurring. And the more people in this crowd, the more rates and votes, the higher the reliability of the forecast. Of course, nothing is perfect in the world, and this approach also has its nuances. Errors cannot be completely ruled out, and votes can be split equally.
It is quite difficult to make any predictions about the development of certain digital currencies. However, if you look from the bell tower of bookmakers, then the cryptocurrency has every chance of successful development, since it is convenient and promising in the field of gambling. The profitability of the project is confirmed by the fact that many large bookmaker services are interested in cooperation with it. The platform is great for sports and political betting. At the same time, the overhead costs are acceptable and even low. If we study the statistics of the sphere of betting on sports events, then according to the most conservative estimates, it can be seen that the turnover here amounts to several trillion dollars.