Presentation by Joseph Krug from Augur at Bitcoin Wednesday in Amsterdam on 4 March, 2015.
See a video of the presentation here:
http://www.bitcoinwednesday.com/augur-video/
10. AFTER THE EVENT: REPORTING
User hashes
report and
broadcasts
Reporting
Quorum
reached
Reports
decrypted
Consensus
Reputation
updates &
cash payouts
Market
opens
Betting
Event(s)
mature
Event
happens!
Event included
in
market
Event
created
BEFORE THE EVENT: BETTING / FORECASTING
Augur Overview
11. Determining Outcomes of Events (Reputation)
Intrade Fees go to
Intrade
Centralized third
party (InTrade)
No punishment
for manipulation
Half the fees go
to reporters
(reputation
holders) – other
half to market
creators (anyone
can create a
market)
Fully
Decentralized
Lose reputation
if you lie