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Eccouncil Exam 312-82 Topic 11 Question 4 Discussion
Topic #: 11
_________is a blockchain based predictions market that uses the Ethereum blockchain.
Augur is a decentralized, blockchain-based predictions market built on the Ethereum network. It enables users to create and participate in markets based on the outcome of real-world events, using smart contracts to automate the process and secure transactions.
Key Details:
Ethereum-Based: Augur utilizes the Ethereum blockchain to facilitate the creation and settlement of prediction markets. It leverages Ethereum's smart contracts to ensure transparency, immutability, and trustless interactions.
Decentralized Prediction Market: In Augur, users can bet on the outcome of various events, ranging from sports to elections. The decentralized nature of the platform ensures that no central authority controls the markets, providing a level of censorship resistance.
Token Usage: Augur uses a token called REP (Reputation) that holders use to report and dispute outcomes of events on the platform. This ensures that the market outcomes are validated in a decentralized manner.
Thus, A. Augur is the correct answer, as it is a blockchain-based prediction market built on Ethereum.
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