What is Augur?
Augur is a decentralized open source prediction market, in Augur you will be able to make a prediction on anything and users will be able to buy or sell shares in that prediction based on whether they think it will happen or not, this could be anything from the weather, to the winner of an election. It is effectively betting however the price of each contract will add of to $1 so if the chance of an outcome happening was even money the contract would cost 50 cents each and you could buy or sell as many as you wanted. The price of a contract will also automatically adjust based on the number of contracts being bought or sold. users will also be able to report on outcomes this will earn them reputation and dependant on how much reputation an individual has will depend on how accurate their outcome reports are. Augur is built on the Ethereum blockchain as it will run on smart contracts, there is also talk that it will run alongside the Bitcoin blockchain so that both Ether and Bitcoin are tradeable within Augur.
Augur (REP) Live Price:
Buying and using Augur(REP)
Reputation (REP) works differently to most other cryptocurrencies as it is the token used by Augur members to report on the outcomes of events.
There was a fixed supply of REP of 11,000,000 units, 80% of which was sold in the opening 45 days as crowd funding.
You can still trade REP at
Augur has a market capitalization of approximately £250 million as of July 1st 2017 making it the 22nd largest cryptocurrency by market cap. What’s even more amazing is that their technology which is currently in Beta mode, is being made to predict the future!
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