Augur (REP), summary. Buy for USD, EURTrade Augur
Price 20.4 USD
Augur is the decentralised forecasting platform and future-event search engine built on the open source code designed for predicting the currency rate behaviour. The platform is based on Ethereum’s blockchain and works on smart contracts. Piloted in 2014 by California-based programmers Jack Peterson and Joseph Krug, it had an ambitious mission: letting people place bets on any events (beyond currency rates) in a secure and decentralised network that could not be affected by external factors. Augur launched its pioneer smart contract in April 2015. To fulfil the primary missions, the project needed vital funding, so an ICO was conducted in October 2015 that helped raise $5.1 million. The platform went beta in March 2016, but the official launch happened only in July 2018.
Augur became an unparalleled place where users can forecast any events and their outcomes. Just like in betting, network participants can earn if their prediction turns out to be true. Additionally, users are allowed to make both positive and negative forecasts. In case of a win, the reward is distributed between the participants by means of a smart contract, which also verifies the fact of the event. The network also offers the arsenal for creating and developing the prediction markets (events with two possible outcomes) which other participants can bet on. Augur users together form a distributed network of oracles — the more oracles in place, the more accurate the result. Here the Wisdom of Crowds joins the battle: an average forecast based on the group opinion can be considered a more reliable signal than an expert analyst’s idea. Such precise predictions increase the chance of earning on an upcoming event, while the decentralised system guarantees low-fee payouts.
The platform’s tokens are called REP (short for reputation), and they were given the eponymous ticker on the exchanges. In total, 11 million tokens were issued, and the emission ceased at that point. If you are looking where to buy REP, our exchange will be your best place to get some. We offer you a simplified exchanger, so the purchase will be easy. It will help you swiftly and valuable sell REP when the rate jumps. We are also proud to offer professional traders the full-fledged trading interface. Moreover, we must note that you can make use of different strategies to earn when trading Augur.
Let’s go further. One can earn not only on crypto trading and direct use of REP for forecasting, but also on storing these tokens. The principle resembles staking in PoS mining, but here one has to make periodical result reports. Such an active-passive income will flow to your account from commissions the system gets. Every reputation token gives the right to 1/22,000,000 of the total revenue. Besides, one who decided to become an Augur arbitrator and gain some moderation fees will need REP coins — what determines an arbitrator’s reputation is the number of tokens they have in disposal. Arbitrators have to stake their coins on their reliability when verifying the fact of an event and making decisions on the outcome. Speaking of storing, users can keep REPs in any wallet supporting ERC-20. Augur developers saw about the security, and their code conforms to MISRA.
Buy Augur for dollars
As long as USD is the world's most commonly used currency, the easiest way to monitor the Augur price dynamics is to watch the REP/USD rate. The REP/USD trading pair can be considered an important tool for monitoring the cryptocurrency market status.
Today's REP price in USD is: https://polyx.net/account/REP-USD
Interesting facts about Augur and REP
The platform name derives from the Latin word “augures”. In ancient Rome, augurs were the members of the state priestly collegium who predicted future events by the behaviour of birds.
On the initial stage, project developers were consulted by Vitalik Buterin (Ethereum) and Ron Bernstein (Intrade).
During the ICO, Augur reserved 20% of all tokens for their developers and the forecast fund. The remaining 80% of tokens were sold.
Every prediction market issues shares that backers of either outcome start buying. A default share cost is 1 dollar; however, its market price is volatile, changing with the betters’ opinion. The higher the share price, the higher the event possibility. Until it does happen, users can sell or buy shares.
As long as Augur runs based on Ethereum, REPs are built as per ERC-20. This enables ordinary users to use not only REP tokens for bets, but also ETH.
REP’s historical price bottom was registered on September 4, 2016, and came to 0.7829 USD.
On the other hand, Augur reached its peak on January 11, 2018, when one coin was worth 123.24 USD.