Last Updated: 05/08/2022
Official Website: https://www.augur.net/
An Ethereum-based prediction market platform will be maintained by a global network of computers thanks to Augur, a piece of software (ETH).
A prediction market is similar to an exchange in that players wager on the results of events rather than trade assets. Without relying on a corporation to build or regulate these markets, people can create and trade "shares" that represent a piece of the value of outcomes using Augur. There is no restriction on what events can be traded, thus markets may be built to assist anticipate the outcome of everything from election outcomes to the weather. The program itself keeps an order book for each market created.
Since Augur is based on the Ethereum blockchain, ETH, which is Ethereum's native currency, is used to purchase shares in its prediction markets. DAI, a stablecoin built on top of Ethereum, is another option for traders looking to use a less erratic asset while betting in the markets. The platform uses Ethereum smart contracts to implement all of the outcomes of the final bets, ensuring that the results are accurate and that winners are compensated.
Augur divides its execution method into four discrete parts to simplify the user experience for placing bets on event outcomes:
In 2014, Jack Peterson and Joey Krug founded Augur. The goal of Jack and Joey was to move away from the conventional centralized prediction markets and unfair judgments. Their objective was to create a market place where people could make predictions about outcomes with a reliable, unbiased judge.
With a blockchain-based decentralization of the prediction market, Augur was created to accomplish their vision by removing the possibility of self-interested behavior, corruption, and theft.
Comparably, software providers such as Exodus and Trust Wallet are also great for storing, sending and receiving REP. It is always recommended that you ensure using a secure wallet, create back-ups and store any sensitive recovery information in addition to completing your own research and due diligence into any service you are looking to use.
Another option would be Atomic Wallet - a non-custodial decentralized wallet. Atomic Wallet connects directly to the blockchain nodes and shows the information about your balances, transaction history and everything you see in the wallet. It also allows you to perform transactions on the blockchain.
You can Buy & Sell Augur (REP) by heading over to the Buy Coins page of our website. Augur (REP) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $REP has never been easier, simply place your order and provide your wallet address. Once your payment arrives Augur (REP) will be sent directly to your wallet.
If you choose to Sell Augur (REP) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.
Block Explorer: https://etherscan.io/
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.
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