Through market incentives, the system intends to harness the “Wisdom of Crowds” (or “collective intelligence”) “To securely produce a more accurate, robust, and unfiltered array of dynamic event forecasts than any alternative can match, Long Tail” dynamics and blockchain technology are used.

Augur is independent, decentralised, self-governing, and pseudonymous. It holds out the possibility of markets free from counterparty risk, principal-agent issues, centralised points of failure, or censorship. No one ever has direct access to another person’s money or is able to jeopardise the integrity of the system on their own.

The software is made up of smart contracts that are continuously deployed on a blockchain network. As a result, deployed applications are immune to local outages and get access to the security of the entire community. All market communications take the form of database transactions between distinct accounts that are driven by unchangeable software instructions.

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