The ABC of the Augur cryptocurrency

Currently, the world of cryptocurrencies is growing day by day, so that more and more currencies are developing and coming onto the market offering innovative projects, such as the case of Augur, which allows people through bets to obtain economic benefits.

Augur is a project that was founded in 2014 by Jack Peterson and Joey Krung, in order to unite aspects related to the world of cryptocurrencies with that of the prediction markets.

Therefore, it is a decentralized platform that is based on the blockchain technology of Ethereum and basically allows predicting any type of future events, which happen in the real world, through the commercialization of virtual actions.

That is, people must buy shares with currencies such as Bitcoin or Ether, once they have been obtained, they bet those shares on the result they consider to be the most likely to succeed and, in this way, obtain economic benefits, just in case the prediction has been successful.

The Augur token is known by the name of REP, which is based on the platform's reputation system. These tokens are used when creating a new market and to inform or evaluate the results of the events created, that is, they are not seen as an investment, but rather as a kind of score.

The interesting thing about this project is that it is not based only on predictions of the financial sphere, but can cover any type of event, whether sporting, business, computer, among others.

For example: a group of sports fans decide to create an event on the platform to know which football team will win the season. A person based on their experiences decides to enter that market, so he buys shares with which to bet. If successful, you will get a dollar for each share you bought, on the contrary, if you do not succeed, you will lose all the money you invested when buying the shares.

Augur Characteristics

Augur is a decentralized platform without central servers, since it is built on the Ethereum blockchain. The funds are stored in intelligent contracts, so that payments can be made to the winning traders, in a much faster, safer and automated way.

In addition, in Augur any person in the world can create a predictive market, on any topic of interest, however, as a market maker, you must grant initial financing and receive half of all the commissions collected during the time it is active. market.

Augur's rates are much lower than those of other trading and betting platforms, since they are set by the users themselves.

In addition, it has many more advantages over other prediction markets, since in these only one person is responsible for determining the final results, while in Augur, it is the responsibility of all users of the platform, so that the errors and any type of manipulation diminish, making this tool much safer.

Where to buy the Augur token?

The Augur Token (REP) can be acquired through markets or exchanges such as exchange. The exchange is a website where you can buy, sell or exchange cryptocurrencies for other digital currencies or money. Among the exchanges where the REP can be purchased are: Poloniex, Bittrex and Kraken.

What future can you expect from the Augur project?

Since its launch, the value of the Augur token has registered important figures, showing itself as a promising project that has the support of many users and investors.

Augur, is a platform in which any number of areas is covered; However, only with sports bets has more than three trillion dollars been obtained, which gives an idea that it will be difficult for this project to fall or stop working someday.

Augur Characteristics

Augur is a decentralized platform without central servers, since it is built on the Ethereum blockchain. The funds are stored in intelligent contracts, so that payments can be made to the winning traders, in a much faster, safer and automated way.

In addition, in Augur any person in the world can create a predictive market, on any topic of interest, however, as a market maker, you must grant initial financing and receive half of all the commissions collected during the time it is active. market.

Augur's rates are much lower than those of other trading and betting platforms, since they are set by the users themselves.

In addition, it has many more advantages over other prediction markets, since in these only one person is responsible for determining the final results, while in Augur, it is the responsibility of all users of the platform, so that the errors and any type of manipulation diminish, making this tool much safer.

Where to buy the Augur token?

The Augur Token (REP) can be acquired through markets or exchanges such as exchange. The exchange is a website where you can buy, sell or exchange cryptocurrencies for other digital currencies or money. Among the exchanges where the REP can be purchased are: Poloniex, Bittrex and Kraken.

What future can you expect from the Augur project?

Since its launch, the value of the Augur token has registered important figures, showing itself as a promising project that has the support of many users and investors.

Augur, is a platform in which any number of areas is covered; However, only with sports bets has more than three trillion dollars been obtained, which gives an idea that it will be difficult for this project to fall or stop working someday.