Augur Launches Prediction Market Beta Testing

Decentralized prediction market Augur has just launched its beta testing platform. The trial will be open to anyone, and its team of developers is asking for feedback from users. On its blog, the company explains it has “overhauled” its User Interface (UI) and “fine-tuned” the smart contracts “so that Augur will scale painlessly to billions in volume.”

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 Anyone Can Now Beta Test Augur

Over the past few weeks, cryptocurrency enthusiasts have been talking about the release of Augur and expectations of when reputation tokens will hit the trading markets. Back in September of 2015, the prediction market startup made headlines by selling over $5.3 million USD worth of the token and raising over $2.5M in the first three days. The team began its alpha testing afterwards and now is rolling into beta, which they say has a 75% faster UI.

The decentralized prediction market will enable people to bet on the outcomes of sporting events, elections, and anything with varying odds. Augur explains it’s added a few new enhancement features to the overall “scope, performance, resilience and flexibility of the system.” In addition, “the UI also sports a number of new bells-and-whistles, including a Portfolio section, market searching and sorting, the ability to create multiple-choice and numerical markets (in addition to the old “binary” yes-or-no markets),” Augur explains on its blog.

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New Features & Future Plans

Augur also explains it will be adding the ability for people to set prices and odds in the near future. They believe this will give more research and analysis before a trade market begins. In addition to these features, they will be implementing “market-driven defenses and failsafe mechanisms against bad actors and unanticipated attacks of the system.”

The new features to the platform will be included in Augur’s upcoming revision to the developer’s white paper.Augur

Lastly, there are more design enhancements planned for the platform and order book along with testing of REP distribution methods. Augur will be offering various “bug bounties” before going fully live later this year.

Bitcoin.com will keep our readers up-to-date with the latest developments from this project and predict people will be watching it.

What do you think about the Augur beta-release? Let us know in the comments below.


Images courtesy of Augur’s website/blog and Pixbay, youtube.com