Decentralized blockchain prediction market Augur has officially entered beta.
First announced in early 2015 and spurred by a successful crowdfunding through the sale of its software tokens, Augur aims to allow users to trade on the outcome of events, and for the market to then leverage that crowdsourced information.
With the news, Augur is now open to initial users, boasting what it called improved front-end design while enabling the creation of new markets that go beyond binary 'yes or no' answers.
Further, Augur said it will soon release a revision of its original working paper as it works toward the distribution of reputation (REP), the cryptographic token it sold during its 2015 crowdfunding effort, as part of a four-stage rollout.
Core developer Joey Krug told CoinDesk:
"We're looking to use the beta as a platform to iterate on until launch. It'll have three additional stages: one where a limit order book is added, one with the consensus and outcome resolution backstops added and the final stage will have a testing of the official REP distribution."
Founded by Krug and fellow core developer Jack Peterson, Augur aims to use a decentralized design to bypass issues that have previously blocked prediction market efforts.
For more on Augur and its vision, read our full interview with the founding team.
Coding image via Shutterstock