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What is Augur?
Augur is a decentralized and open-source prediction market platform. Using the “wisdom of the crowd” principle, it aims to provide accurate predictions of any real word event. Its purpose is to create a no-limit betting platform that monetizes accurate predictions, with the least likely outcomes getting the bigger reward if they come true.
The wisdom of the crowd principle comes from the idea that larger groups of people typically have better judgment and knowledge than an individual, and therefore have higher reliability in predicting future events. The Augur platform gathers data from users and displays the most predicted outcomes to create answers to an event.
A prediction market can be created by any user. The market creator pays a fee in Ethereum tokens to receive a validity bond that legitimizes their prediction market, followed by a decision on a creator fee that determines the percentage of the rewards taken from other users.
The main currency in the exchange is the REP token, which can be converted into cash. Markets also have reporters of event outcomes who submit their reports to the Augur smart contract system, which keeps track of all of the staked predictions. Reporters can profit from reporting on event outcomes if they place their stake through a no-show bond, although any user can dispute outcomes.
Users of the Augur platform can also purchase and trade prediction shares within a created market. These shares concern the predicted outcomes of an event and become profitable if the user buys the share with the correct prediction.
Augur Market Price Ticker Chart
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Augur Frequenty Asked Questions
Where does Augur (REP) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Augur currently ranks in position 236 out of the top 1000 cryptocurrencies. Another important factor in popularity is Augur‘s market capitalization – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Augur has a market cap of $ 231,574,622, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,002,575,558,023, Litecoin at $ 17,199,171,771, Ethereum at $ 317,775,550,904, Tether at $ 51,256,468,715, and XRP at $ 64,499,908,053.
What is the price of Augur (REP) today (updated in realtime)?
The current price of Augur is $ 36.46 in USD. (The price in Euros is 30,18 €; and the price in Bitcoin is Ƀ 0.00067700 BTC.)
How has Augur (REP) performed recently?
Augur‘s price has decreased in the last 24 hours by -0.77%. The change in price over the last seven days was 12.38%. The trading volume over the last 24 hours was $ 32,854,982. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds, and it is considered a good indicator of popular interest in the currency.
What is Augur‘s (REP) market supply?
The total circulating (available) supply of Augur is 6,375,486 REP. The total supply of Augur is 6,375,486 REP.
What is the 24 hour volume for Augur (REP)?
The 24 hour volume of Augur is $ 32,854,982.
What is Augur (REP) official website?
Augur‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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