Augur Protocol is a recently introduced prediction markets system. It is driven by the Ethereum (ETH) blockchain and allows users to bet on almost any event. However, some users have gone ahead to even use it to predict the assassination of celebrities.
Augur Protocol uses smart contracts
Augur Protocol is an open source decentralized system that is driven by the Ethereum blockchain. The protocol uses smart contracts that are able to deliver anonymous transactions.
Consequently, people use it in setting up individual prediction markets which automatically attract crypto bets. Winnings are then distributed while eliminating the user’s identity.
Augur Protocol was introduced on July 10 and has the potential to influence people to carry out certain acts. This is due to its anonymous nature and the fact that one might earn some money. Hence, it is no surprise that the protocol has already been used to predict the death of several celebrities.
One such market that was created on the protocol was, “Will Donald Trump be killed at any point during 2018?” The site was also used to gamble on whether Senator John McCain would make it until next year. Other celebrities whose deaths have been predicted on Augur are Betty White, Jeff Bezos and Warren Buffett. This has led to the ethical and legal controversy surrounding the prediction platform.
Illegal assassinations markets pose the danger of having a celebrity murdered following a bet on his/her death. However, the predictions on the celebrities above received very little transactions and low wagered amounts.
Meanwhile, Augur has allowed its users to flag markets that appear unethical and stop any betting on them. Although the platform has not placed any incentives that would encourage users to do so.
Nevertheless, the platform features a reporting system that makes it impossible for one to be paid on an assassination market.