Augur — an Ethereum blockchain project that calls itself "the future of predictions". Currently in beta, it is a decentralized prediction marketplace where participants get rewards for their knowledge and ability to predict future events accurately.
Contents:
- Description of the Augur platform
- Prediction period in Ethereum resource
- Features of the Augur platform
Description of the Augur platform
Augur — a prediction platform. In addition, with this project, anyone can create a market, dedicated to any issue: from sporting events, election results, up to the gender of the child of celebrities. The market creator asks a question, and once the market opens, thousands of people can buy stocks, tied to the outcome of the event. The platform runs as an extension to Bitcoin Core.
The platform uses three crypto coins:
- BTC;
- ETH;
- own token on ERC20, in short REP.
Augur's current settlement currency - ETH, which means that bets on the outcome of an event go through the Ethereum blockchain. The internal REP token helps to reward people who provide accurate predictions and are not used for betting. To store coins, it is not necessary to have an Augur wallet; you can use wallets that support tokens, created on the basis of Ethereum. For example, Monee, MyEtherWallet, ImToken. And other wallets with ERC-20 support. The developers provide participants with a “White Paper”, as well as a separate blog and weekly reports, where all the platform's news are available. Of the upcoming innovations, it is worth highlighting the launch and testing of Augur V2.
Prediction period in Ethereum resource
The market can be divided into two key phases: before and after an event occurs. The first - the "prediction phase" and the second - the "reporting phase". Plus, Ethereum smart contracts allow users to create any marketplace.
As the event has occurred and the forecasting phase is completed, the reporting period begins. REP owners are strictly required to report the results of randomly selected events each time the network "checks for reality." By default, the rate at which this occurs - every eight weeks, although this interval is configurable.
Features of the Augur platform
You don't need to own a REP to use Augur. In fact, most users will never use REP. As mentioned earlier, bets are placed on Bitcoin and Ether. REP is not a value in and of itself, but rather an important component of the platform. In addition, REP is used exclusively by users who report the true results of events. The referral system and other bonuses on the platform are not available now.
Why should you use this project:
| Brand new app | The shopping application has been redesigned from the ground up and is suitable for both PC and mobile devices. You can trade in seconds now. |
| Without borders | There is no limit to the amount you can bet or win. |
| DAI / USD rates | DAI - a pegged currency that reflects the value of the US dollar. 1 DAI is equivalent to 1 USD. |
| Best odds and lowest fees | Keep what you earn. Trading fees are the lowest (~ 1%) with no withdrawal fees. |
REP has real cash value because it is the only way to access 50% of all trading fees on the Augur network. However, investing in a token can be considered a very difficult risk at this stage. In addition, the developers do not provide information about the presence of an audit of a smart contract. The developers run several social networks - Twitter and Facebook. Subscribe to stay up to date with all news.