What is Augur (REP)?

Website: https://www.augur.net/

Maximum Supply: No Data

Total Supply: 11,000,000 REP

Circulating Supply: 11,000,000 REP

Explorer: Augur Explorer

Whitepaper: Augur Whitepaper

What is Augur (REP)?

Augur is a decentralized prediction market protocol built on top of the Ethereum blockchain. It is also the first major decentralized application developed using Ethereum, making it an important proof-of-concept for this technology.

Augur was created to enable crypto users to leverage the "wisdom of the crowd" to predict the outcome of any future event, such as a successful SpaceX launch or World Cup winner.

Augur's concept is based on monetizing correct answers. Users speculate about the consequences of future events; Those who get the result right make money, while the rest lose. The lower the probability of an event occurring, the greater the reward offered for predicting its success. Thanks to its advanced forecasting model that produces near real-time forecast data, Augur's forecasts are often more accurate than those of leading experts.

Augur was released in 2014. As a decentralized app, Augur is not owned by anyone and cannot be shut down by a single person, company or government.

Who is the Founder of Augur (REP)?

Jack Peterson and Joey Krug are the founders of Augur. Both have a solid track record in the blockchain world and have previously spearheaded the creation of Sidecoin, a famous Bitcoin fork. In addition, Vitalik Buterin, co-founder of Ethereum, is an advisor to the Augur team, which has given the platform a strong presence in the cryptocurrency market.