Augur blends the magic of prediction markets with the power of a decentralized network to build a stunningly precise forecasting tool
What is Augur (REP)?
Augur is an Ethereum-based decentralized prediction market that leverages the wisdom of the crowds to build a search engine for the future that runs on its own token, REP. It launched in 2015 shortly after the public release of Ethereum, It aims to build a ‘world-changing forecasting tool’ in which users collectively vote on the prediction of the outcome of a stated event. Users whose votes turn out to be correct are rewarded in the denomination of REP tokens.
Augur (REP): History
Augur was founded by lead developer Jack Peterson in 2014, the concept for Augur started out of the desire to apply blockchain technology to the newly-formed field of predictive markets. Then College Cryptocurrency Network director Jeremy Gardner and core developer Joey Krug soon participated the project. The funds for Augur development were raised in an Ethereum-backed ICO period. Augur is one of the first crowdsourced token projects hosted on the Ethereum platform, organizing their ICO before the term was synonymous with blockchain product development.
How Does Augur (REP) Work?
Augur is a ‘trustless, decentralized oracle and platform for prediction markets. It is essentially a series of smart contracts that run on the Ethereum network. The Augur oracle enables real-world information to inter with the Ethereum blockchain without the need of a trusted intermediary. Through Augur, anyone can ask questions if they really want to know by creating a “market” surrounding the outcome of an event.
How to Buy Augur (REP)?
First, you have to create an Augur Wallet for storing your coins safe and you can choose MyEtherWallet for that as it can store any coins on the Ethereum blockchain including Augur. Then you can buy Ethereum by using Coinbase. Then trade it for Augur.
Augur (REP) Price Prediction 2018
REP can be a profitable investment option. Augur price equal to 46.701 USD at 2018-02-27. If you buy Augur for 100 dollars today, you will get a total of 2.141 REP. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-24 is 276.699 US Dollars. With a 5-year investment, the revenue is expected to be around +492.49%. Your current $100 investment may be up to $592.49 in 2022. Augur (REP) price today is $46.84 and have the current supply of 11,000,000 REP. The market cap value is $515,292,800, and the volume is marked as $3,498,460. Augur price prediction, Augur price forecast, Augur price and news, REP price forecast, REP price prediction 2018, What is the price of Augur 2018.