AUGUR (REP)

 

Welcome to the future of forecasting

Augur combines the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool – and the chance for real money trading profits

Circulating Supply   11,000,000 REP





Augur is an open-source, decentralized prediction market platform built on Ethereum. The Augur protocol is a set of smart contracts that exist on the Ethereum blockchain.

Augur was founded in 2014 by Jack Peterson and Joey Krug. The first working version of Augurs alpha release was published to the Ethereum test network in June 2015.[2] Development was funded via an online crowdsale during August and October 2015.[3] Four months later in March 2016, Augurs beta release was deployed to the Ethereum test network.[4] The project has gone through a few iterations since then, and are in the final stages of preparing for a main network launch.[5]
The Augur project seeks to leverage the open, global, peer-to-peer ledger functionality that blockchain technology provides, as well as game theory and financial incentives, to better explore the concept of the wisdom of crowds (also known as collective intelligence) and try to get more accurate predictions about future events.[6] The specific technologies used would theoretically allow for more participation and volume compared to traditional betting platforms, therefore augmenting the quantity of markets available and their accuracy.

Augur is an Ethereum-based decentralized prediction market that leverages the wisdom of the crowds to create a search engine for the future that runs on its own token, REP. Augur allows users to create their markets for specific questions they may have and to profit from the trading buys while allowing users to buy positive or negative shares regarding the outcome of a future event.
The value of each share adds up to one dollar, so if a negative share is worth 50 cents and if a positive share is worth 50 cents, there is a 50/50 probability of said event becoming true or false according to the platform. If that event is proven to take place, the positive shareholders will receive a full dollar for each share bought. The current market price of a share is an estimate of the probability of an event occurring.