Augur (REP) Coin

augur logo

What is Augur?

Augur is a decentralized prediction market which is Ethereum based. It can predict the outcome of a certain event by leveraging the ‘wisdom of the crowd’. By doing this, the answers of the crowd are averaged, by which you can obtain the most realistic outcome. A positive outcome is rewarded by REP coins whereas if there is a negative outcome, REP coins are deducted/taken away. The idea of Augur is to make more accurate and truthful predictions by a large group of people. The decentralised nature of Augur ensures that the government, who views a prediction-market as gambling, does not block it out. This decentralized nature also ensures the honesty of the predictions.

How Does Augur Work?

  • Reputation: Augur has tradable token called Reputation (REP). Users, when making predictions, stake their REPs on a certain expected outcome. The more REPs that are staked, the more you earn back. Unless the result is negative, you lose REP tokens.
  • Predictions: Any person can set up events and can even buy shares as to the outcome of the event.
  • Blockchain Fork: Transactions are sometimes split into two timelines because of irreconcilable disagreement. This creates a timeline in which the consensus is valid and another timeline where it isn’t. As the fork loses its value, the duality should finish, leaving Augur with an honest fork.
  • Early Resolution Bond: This is a bond paid by the poster to resolve the market before its expiry. It is returned to the poster if the answer is anything other than ‘Market not ready for early expiration’
  • Fork Bond: A bond posted by someone to challenge the consensus of the appeal bond re-adjudication to have the reputation history fork.

Benefits of Augur:

  • The financial reward for reporting on assigned markets;
  • Income is converted to currency which doesn’t decrease in value
  • Fraud reduction;
  • New markets can be created;
  • Less danger of getting hacked.

How to Setup Augur?

First things first, you have to get a convenient wallet to store your Augur coins. MyEtherWallet is the best option. Create your new wallet after which you’ll get the option to download a keystore file. You have to click that after which you’ll be given an unencrypted key. Never share your key with anyone. If a software wallet is too insecure for you then you can always buy a hardware wallet. Hardware wallets made by Ledger and Trezor are the most recommended for saving Augur coins.

How Much Does Augur Cost?

An Augur coin costs about 30,02$.

How to Invest In Augur?

The Augur coins will be sent to your address. After the setting-up is done with, the next thing to do is to buy a popular cryptocurrency like Ethereum to exchange it for Augur coins. A site called Binance will be used to do the trading.

You can buy REP coins from Kraken or Bittrex.

Key Features of Augur:

  • Weather forecasting;
  • Business forecasting;
  • Political forecasting;
  • Event hedging.

Augur (REP) Specification

Start Date:

Circulating Supply:

17/11/2014

11 000 000 REP

Augur (REP) Wallets

myetherwallet

MyEtherWallet

exodus

Exodus

ledger

Ledger Nano S

jaxx

Jaxx

gatehub

Gatehub

eidoo

Eidoo

lykke

Lykke Wallet

parity

Parity

guarda wallet

Guarda Multi-currency Web Wallet

guarda wallet

Guarda Mobile Wallet

trezor

Trezor

ethereum mist

Ethereum Mist DApp

metamask

MetaMask

Augur (REP) Exchanges

kraken

Kraken

bittrex

Bittrex

upbit

Upbit

poloniex

Poloniex

liqui

Liqui

chaoex

Chaoex

cointiger

CoinTiger

latoken

LATOKEN

ethfinex

Ethfinex

gate io

Gate.io

hitbtc

HitBTC

paradex

Paradex

bx thailand

BX Thailand

cryptopia

Cryptopia

livecoin

Livecoin

radarrelay

Radar Relay

gatecoin

Gatecoin

qryptos

Qryptos

lykke

Lykke Exchange

idex

IDEX

abucoins

Abucoins

cobinhood

Cobinhood

mercatox

Mercatox

Augur (REP)

Team of the Augur (REP)

Jack Peterson co founder and lead developer of augur

Jack Peterson, PhD

CO-FOUNDER & LEAD DEVELOPER

Joey Krug co founder and senior developer of augur

Joey Krug

CO-FOUNDER & SENIOR DEVELOPER

Alex Chapman senior back end developer of augur

Alex Chapman

SENIOR BACK-END DEVELOPER

Aaron Drake senior back end developer of augur

Aaron Drake

SENIOR BACK-END DEVELOPER

Scott Bigelow back end developer of augur

Scott Bigelow

BACK-END DEVELOPER

Serena Randolph front end developer of augur

Serena Randolph

FRONT-END DEVELOPER

John Danz front end developer of augur

John Danz

FRONT-END DEVELOPER

Justin Barry front end developer of augur

Justin Barry

FRONT-END DEVELOPER

Phoebe Mirman front end developer of augur

Phoebe Mirman

FRONT-END DEVELOPER

Paul Gebheim code monkey of augur

Paul Gebheim

CODE MONKEY

Tom Haile code mercenary of augur

Tom Haile

CODE MERCENARY

Peter Hicks senior devops engineer of augur

Peter Hicks

SENIOR DEVOPS ENGINEER

Matt Bullock senior product designer of augur

Matt Bullock

SENIOR PRODUCT DESIGNER

Austin Williams researcher of augur

Austin Williams

RESEARCHER

Tom Kysar operations of augur

Tom Kysar

OPERATIONS

Steph Alexander technical writer of augur

Steph Alexander

TECHNICAL WRITER

Perry Despeignes special ops of augur

Perry Despeignes

SPECIAL OPS

Ivan Petric marketeer of augur

Ivan Petric

MARKETEER

Augur (REP) Explorer

Summary

Augur was built on the top of Ethereum, which proves that it is a very old project. Prediction markets are very profitable and Augur can help be profitable and create amazing markets at the same time.