Augur is a fully open-source and decentralized prediction market platform built on Ethereum, a blockchain technology that allows for the execution of smart contracts. JavaScript is also used for a browser-based GUI supplementing the command line. Notable supporters of the project include Intrade co-founder Ron Bernstein, the Thiel Foundation and Vitalik Buterin.

Early development of the software began in autumn 2014, and an alpha version was released in June 2015. From August to October 2015, a global crowdfunding campaign raised US $5.2 million in cryptocurrencyto support future development. A beta version was released in March 2016. Live release is currently projected for somewhere in 2017.