► Complete Review: https://www.coinbureau.com/review/augur-rep-prediction-markets-on-blockchain/
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⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://www.augur.net/
► Whitepaper: https://github.com/AugurProject/whitepaper/blob/master/english/whitepaper.pdf
► GitHub: https://github.com/AugurProject
► V2 Updates: https://www.augur.net/blog/v2-and-beyond/
► Creating a Market: https://blog.wetrust.io/how-to-create-an-augur-market-for-cryptounlocked-d9b76030f503
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📱️ Socials 📱
► Official Blog: https://medium.com/@AugurProject
► Twitter: https://twitter.com/AugurProject
► Discord: http://invite.augur.net/
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📝 Project Overview 📝
Augur is a decentralized project used for predictions. It’s a decentralized platform that utilizes an ERC20 token to make forecasts on events in the world as they occur. Of course, making predictions is not a new thing.
⚙️ Technology ⚙️
Augur allows for the creation of prediction markets that pay users when they make an accurate prediction about events in the real world. Additionally, those who create the markets are rewarded as well.
Once an event has occurred, oracles find the outcome. An oracle is referred to by Augur as anyone who stakes REP. There are a number of oracles on the Augur platform, which serve to provide a consensus to the outcome of the event.
The profits you earn are determined by the likelihood that the event will happen based on the crowd’s prediction. Every share has a value of 1 ETH.
Over time, share prices on the platform will change. As people purchase shares, the price is likely to rise, while the inverse is true if people decide to sell.
💰️ Token 💰
REP is the Ethereum-based ERC-20 token which represents reputation for anyone participating on the platform. There is a limited supply of REP, with a cap total of 11 million tokens. These tokens were created for the Augur ICO.
8.8 million REP were sold to investors, while the remaining 2.2 million were split up between the Augur Forecast Foundation and it developers. During its ICO, the Augur team raised nearly $5.3 million.
Bets are made in Ethereum, which means REP tokens are not meant to be used as a source of value.
REP tokens exist in two states: active or dormant. The reputation for all users begins as dormant. When you choose to activate your REP, you are required to report truths on the platform.
👨💻️ Team, Partners & Development 👨💻
The two key members behind the Augur platform are Joey Krug and Jack Peterson.
Peterson is a Ph.D. with experience in entrepreneurship, software development, and blockchain programming, while Krug is a developer who brings with him a strong background from the blockchain industry.
Augur is targeting a version two launch in January of 2020, which will bring a comprehensive suite of improvements to the platform.
Version two will point to the multi-collateral DAI coin. Augur intends to speed up its dispute process with version two improvements as well.
Version two of the platform will also have a new U.I. This will include “back” & “Lay” functionality
📈 Trading & Wallets 📈
There are a number of exchanges where you can trade REP including Binance, Coinbase Pro, Bibox etc.
Volume is spread out pretty evenly across these exchanges, with options to trade REP with ETH, BTC, and Tether.
Order book liquidity for REP is also quite strong. If you look at Coinbase Pro, you’ll note that the order book for REP / USD is pretty deep and there is a decent amount of turnover – so easy execution for your orders.
For the storage of REP, you can use a Ledger, Trezor, Metamask or Edge.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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