Exploring The Augur [REP] with Ryan

canomaly (45)in #dsound • 6 years ago (edited)

{The Crypto Anomaly Show}

In this episode, I am talking Ryan Berckmans, co-founder of Predictions.Global. Ryan discovered cryptocurrency and bitcoin while being at University but it was not until this year he began working on predictions.global that helps the Augur to grow by allowing users to see markets without the need to install Augur app. There is not much of interactivity on the website now, however it is planned that additional functionalities and features will be added.

We discuss Augur and what are prediction markets. Prediction markets are exchange-traded markets created for the purpose of trading the outcome of events. The market prices can indicate what the crowd thinks the probability of the event is. We talk about things such as what makes Augur as a decentralized solution better than ordinary centralized prediction markets that we have now.

The smart contract is maintained by a forecast Augur foundation, it develops Augur. Anyone can create their own market as well as become reporter. Augur was made to function that all questions will be answered correctly. However, if for some reason it is impossible to say what is a truth, Augur will fork. This forking is made by design and it is not a fork in a sense of Ethereum forks, Bitcoin forks or any other chain split forks. It is a software fork built into Augur by design that will help Augur as a network to move forward and solve any issues with predictions that can happen on the platform.

Because there is a problem with Ethereum volatility, forecast foundation is looking to integrate DAI stable coin into Augur. DAI is a token that was designed to keep its value pegged to USD dollar. If DAI gets added it will be a game changer for Augur and could open a new opportunity for people to use Augur.

Here are few links, if you want to find more about Augur: