Ethereum-based prediction market platform Augur is using Airbitz Edge Security, the battle-tested blockchain security solution that automatically encrypts, backs up, and synchronises private keys and account data across devices.
The Edge Security Platform delivers an easy to use, secure account creation process and works by securing personal devices of end-users including phones and tablets, rather than trying to secure the central servers where data is held. The partnership with Augur will introduce the Airbitz security platform to other Ethereum-based decentralised applications (Dapps), said a statement.
Augur has been described as "Uber for knowledge". It provides a decentralised (hence incorruptible) prediction market platform, where the wisdom of the crowd will answer questions about any potential future state of affairs; Augur allows people to speculate or hedge on the outcome of anything that can be posed as a question. It was really the first Dapp to become established on Ethereum and it raised $5.3m in the first crowdsale involving the technology after Ethereum itself.
Joey Krug, Augur Core Developer, Forecast Foundation, said "One of the biggest usability issues with decentralized apps at the moment is that there's no good way to store private keys and account data without resorting to a centralised server: Airbitz solves this problem for Augur."
Jack Peterson, Augur Core Developer, Forecast Foundation, added: "We want Augur to be just like using a regular website, from the user's point of view. Our partnership with Airbitz is a big step towards this goal: users will have the option to use a more traditional accounts system, instead of having to manually manage their cryptographic keys."
The Augur deal means any Ethereum based app can now deploy Edge Security for its endusers making usability much more accessible to a mainstream audience while still ensuring that the user remains in sole control of their private data, added a statement issued by the companies. With plans to bring Edge Security to many more apps in Bitcoin, Ethereum, and beyond, Airbitz is positioned to be the world's first fully private single sign-on and key management solution for interacting with blockchains, it said.
Paul Puey, Airbitz Cofounder/CEO, said: "Call it a prediction, but when fully released, Augur will have with the most seamless account creation, encryption, backup, and synchronization process in the industry, as well as close integration with Airbitz accounts. Augur has developed an industry disrupting product that may drastically reshape our financial markets. An empowering decentralized app like Augur helps round out the offering of decentralised currencies like Bitcoin. The Airbitz team is happy to be working with Augur to deliver our Edge Security platform to Augur users."
Puey also said his team is excited about a variety of paradigm shifting use cases for Edge Security outside of the Blockchain ecosystem in legacy industries and tech categories such as Healthcare, IoT, secure messaging, authentication, identity, financial services, etc. Sign up for an Airbitz developer account here.
Augur is also busy this week at CNBC & Singularity U's Exponential Finance Innovation Lab , followed by "Augur 101: When Ethereum Meets Prediction Markets" which takes place at Barclay's NY Accelerator "Rise New York" on the evening of June 8th. Augur's Joey Krug and Tony Sakich will present on Augur, with InTrade founder Ron Bernstein talking about the Past, Present & History of Prediction Markets. There are currently 250 RSVPs which will make this the largest American Ethereum event to date.