- 1 Overview of Augur
- 2 Blockchain
- 3 Mine
- 4 Network
- 5 Support
- 6 Transactions
- 7 Are Only Certain Prediction Markets Available?
- 8 Did you know?
- 9 Does The Team Have A Good Reputation?
- 10 How Are The Payouts Calculated?
- 11 How do I buy Augur?
- 12 How Does Augur Make Money?
- 13 How does Augur work?
- 14 How Does Augur Work?
- 15 How Does It Work?
- 16 How Does One Create Prediction Markets with Augur?
- 17 How is Augur produced?
- 18 How to use Augur?
- 19 Still Need Help?
- 20 What Are Reporters ?
- 21 What can you do with Augur?
- 22 What coins are similar to Augur?
- 23 What does the future hold for Augur?
- 24 What hashing algorithm does Augur use?
- 25 What is Augur?
- 26 What Is Augur?
- 27 What is Augur?
- 28 What is Augur?
- 29 What is Augur?
- 30 What is augur?
- 31 What is Augur?
- 32 What is Prediction Share Trading?
- 33 What is REP?
- 34 What is REP?
- 35 What is the Reddit page for Augur?
- 36 What is the value of Augur?
- 37 What’s so special about it?
- 38 Where can I get Augur wallet?
- 39 Who invented Augur?
- 40 Who’s behind Augur?
- 41 History of Augur
Overview of Augur
Forecast Foundation is advised by Ron Bernstein, founder of now-defunct company Intrade, and Ethereum founder Vitalik Buterin.
Anyone holding reputation (REP), which is Augur’s native token, can become a reporter and participate in this stage.Note that Augur users do not need reputation to make bets on the platform, only reporters are required to hold REP tokens.Profit-motivated reporters feed information about the actual, real-world outcome to Augur’s oracle, which determines the final outcome of the market and begins settlement.Reporters who consistently provide accurate reports and information are eventually financially rewarded while people with reports are inconsistent with the consensus are penalized.The reporting stage starts after a market closes.
To resolve markets, “reporting” fees are used to incentivize the reporting of market outcomes. Augur uses an ERC-20 token called REPv2 to incentivize reporters on its network to back their reports with tokens. The REPv2 token holders are entitled to the trading fees generated on the platform. Augur’s security model has been rigorously quantified and shown to be secure. Augur runs on Ethereum.
The augur protocol is supported by The Forecast Foundation – a group of developers who contribute to the maintenance and development of the protocol, but do not own or control it.The foundation does not receive fees from the protocol and has no role in the operation of created markets among other restrictions.
Augur is an excellent example of how prediction markets powered by smart contracts can show us the value of a decentralized oracle.Still, it is an exceptionally commendable achievement and one of the best examples we have of a prediction market powered by blockchain technology and smart contracts.Their aim is to be as separated from the process as they can be.When you use Augur the primary job of the developers in handing the predictions is merely to set them up; they can’t reverse transactions, and they can’t cancel your prediction so they could gain an edge themselves.While not something you could consider completely trustless they have done an exceptional job at producing a system that uses voting by those that have something to lose (Augur token holders) as well as allowing the outcome of a vote to be disputed to provide another layer of protection, it’s not a perfect system.
Are Only Certain Prediction Markets Available?
No.The Augur prediction platform allows anyone to create a market and ask questions.It is not limited to certain countries and has a global reach.Market creators are encouraged to create relevant markets that have a sensible outcome.This is incentivized through the bonds that they have to put up when they create the prediction market.
Did you know?
If Augur ceased to exist today, because it’s open-source anyone else would be able to use the code and create their own version of the network.
Does The Team Have A Good Reputation?
Most notable, the team lists some very prominent figures in the cryptocurrency community as their advisors.Vitalik Buterin, one of the founders of Ethereum is listed as well as Elizabeth Stark, founder of the Lightning Network.
How Are The Payouts Calculated?
After the reporting phases consensus is reached on what actually happened.Smart contracts execute on these events automatically.Users who bought shares are rewarded if they predicted the correct outcome.Reporters are paid out in REP if their reports were honest and accurate.Similarly, if their reporting was deemed incorrect or they simply did not respond they are penalized and lose REP.Their share of rewards also goes to the honest reporters as extra incentive.
How do I buy Augur?
It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Augur.
How Does Augur Make Money?
Augur charges two fees namely a creator fee and a reporting fee.The creator fee is set by the user when they create a market.Reporting fees are calculated dynamically.These fees are very low compared to traditional prediction platforms.To start a new market the market creators have to send some initial funding to get the market started.In return they will get to keep 50% of the trading fees generated on Augur.It is then open to anyone to buy and sell shares in that particular prediction market.
How does Augur work?
Augur is a decentralized take on gambling.There are essentially four stages in the betting process: creation, trading, reporting, and settlement.
How Does Augur Work?
The Augur prediction market protocol is marketed as the only protocol in which its developers do not meddle into its operation beyond providing the initial open source code.In practice, this means that its creators do not create markets, engage in trading or have the ability to control or oversee actions taking place on the Augur platform.
How Does It Work?
To get started with Augur, visit https://augur.
How Does One Create Prediction Markets with Augur?
The main actions the user can take on the Augur platform are related to the creation of markets and prediction trading.
How is Augur produced?
Augur’s native token, the REP, isn’t mined like Bitcoin.Instead, at launch Augur’s creators issued 11 million ERC-20 tokens.Unlike other networks, holders of REP tokens have to take part in the maintenance and upkeep of the network.If they don’t, they lose their REP.
How to use Augur?
The best way to use Augur is by downloading the native Augur app and syncing to the network, or you can try Augur’s web app.Both are at augur.net and give you full access to the Augur protocol.To create a market, you’ll need some REP and a small amount of ETH.
Still Need Help?
Join the Augur Discord for answers from the developers and community.
What Are Reporters ?
Users who have been designated by market creators to log the outcome of an event are known as reporters.Within three days they are required to log the outcome of the event privately on the blockchain.If they fail to do so, the reporter role is then publicly available to the community.The first person to report the outcome is known as the first public reporter.To ensure quality reporting there is also a 7 day dispute phase where anyone can dispute the outcome of a report.There can be multiple rounds of dispute for up to 60 days.If there is no resolution, which is highly unlikely the market will fork.If there is no dispute, after the 7 day period the market is finalized and traders can cash in on their positions.
What can you do with Augur?
While people have used the network to create markets on everything from sporting events, to the price of Bitcoin and even what the weather will be like, the potential for Augur’s market is almost limitless.
What coins are similar to Augur?
The following coins use Augur’s ETH Token algorithm and proof-type: Chainlink, THETA, Binance USD, DREP, DREP [old], PancakeSwap, Aave, Maker, FTX Token, Huobi Token, Crypto.com Coin, Dai, Polygon, Chiliz and Holo.
What does the future hold for Augur?
As one of the oldest Ethereum projects, Augur has a solid reputation.The team’s whitepaper goes into very fine details explaining the concept behind the platform and inspiring trust.And it’s obviously a concept that works.
What hashing algorithm does Augur use?
Augur is a coin that uses the ETH Token algorithm.
What is Augur?
Augur is a decentralized, trustless oracle and prediction market platform built on top of the Ethereum blockchain.It is also the first major decentralized application (dApp) developed using Ethereum, making it a major proof of concept for this technology.
What Is Augur?
Augur is a decentralized prediction market platform that utilizes the Ethereum network.In a prediction market, you can bet on the outcome of future events to get monetary prizes.The less likely an event is to occur, the bigger the reward you can earn predicting its success.
What is Augur?
Augur is a cryptocurrency that powers prediction markets.It can be used to bet on sporting events, political outcomes, economies, and just about everything else in the prediction markets.Online gambling is a $52 billion a year industry and Augur intends to carve a tiny percentage and make the REP coin a winner.
What is Augur?
Augur is a predictions market built on Ethereum.Its entire premise is to create a decentralized hub where users can collectively bet on what the future might look like.
What is Augur?
Augur is a decentralized oracle and peer-to-peer protocol for prediction markets on Ethereum that lets anyone create a market around the outcome of any real-world event.Augur has a native ERC20 token (REP).Users don’t need REP to trade (ETH is used for that).But, market creators need REP to post no-show bonds.Also, REP is used to dispute market outcomes or buy participation tokens (redeemable for a portion of ETH reporting fees collected during fee windows).Users trade on an event’s outcome by buying and selling shares in the event’s market.Share price reflects the probability of a particular outcome.Users with shares representing a winning outcome can settle with Augur’s smart contracts or sell their shares to other traders.To create a market, a user must (1) name someone to report the outcome at the appropriate time, (2) post a no-show bond (returned if the designated reporter acts properly and claimable by any reporter if not) and (3) post a validity bond (in ETH), which is refunded if the market is valid.Market creators may also set a creator fee – a percentage of settlement fees (in ETH).Once the event has occurred and outcome has been reported, any person who disagrees with the reported outcome can invoke the dispute process defined by the Augur protocol.
What is augur?
Augur is a decentralized oracle and peer-to-peer protocol for prediction markets.It is free, public, open-source software and a set of smart contracts written in Solidity that can be deployed to the Ethereum blockchain.The Augur developers have decided to use the “Wisdom of the crowd” on the platform to generate forecasts, where some participants are betting on the outcome of the event, and the majority are seeing the results in order to gain the viewpoint of the collective mind.Augur is a cryptocurrency that is called the blockchain oracle or the personal predictor of Vitalik Buterin.REP is the utility token of the project.Augur uses a “wisdom of the crowd” principle – it has extensive and robust features, and always rewards its members.It is entirely regulated by users betting on any event and remain anonymous.This feature allows everyone to make predictions and gain income without sharing their personal details.
What is Augur?
This page represents Augur v2, which is a fork of the Augur prediction market protocol designed to improve efficiency.Prediction markets like Augur v2 are designed so users can place bets on a variety of different events.With this fork, Augur v2 rolled out a suite of improvements around dispute management, settlements, forking, and more.Prediction markets are widely considered the best forecasting tool.Augur is an open, global platform where anyone anywhere can create, monitor or trade in prediction markets about any topic.Think of it as an “Early Warning System'' with the most accurate event forecasts, a potential “Google Search”, “Bloomberg Terminal” or “Reuters Terminal” for crowdsourced event forecasts.The system plans to use the “Wisdom of Crowds'' (“collective intelligence'') via market incentives, “Long Tail'' dynamics and blockchain technology to securely generate a more accurate, robust and unfiltered array of dynamic event forecasts than any alternative can match.Augur is decentralized, self-regulating, pseudonymous and autonomous.It offers the promise of markets without exposure to counterparty risk, principal-agent problems or central points of control, failure or censorship.No person is ever in direct control of someone else’s funds or in a position to single-handedly threaten the system’s integrity.The software is comprised of smart contracts perpetually deployed on a blockchain network, which enables applications deployed to be immune to local outages while benefiting from the entire community's security.All interactions with markets are communicated as database transactions between unique accounts powered by immutable software instructions.Augur v2 Launches “The Augur v2 protocol contracts have been successfully deployed to the Ethereum Mainnet.The contracts have been verified on Etherscan, and the deployers address can be found here.” ? See more info on the Augur V2 deployment here.
In addition to earning from creating prediction markets on the Augur platform, the users can also try their luck and knowledge by engaging in trading and purchasing prediction shares as soon as a market is created.These shares are related to the outcomes of events which are the subjects of predictions.Those who buy shares for the “correct” outcome can make a profit from it.
What is REP?
Augur’s token REP is an ERC-20 token.This means that the cryptocurrency project runs on the Ethereum network and uses the Ethereum blockchain to execute its smart contracts.
What is REP?
The REP token is an Ethereum-based ERC-20 compatible token that runs on the Ethereum network.The REP token is a reputation token that is linked to reporting on the actual outcome of events.Users who report on events have to do this every two months.They will then earn REP rewards.Half of all the transaction fees in the system are divided up and and paid out to each user.This reward is calculated as a percentage of the amount of REP each user owns.Bonds are posted in Ethereum (ETH) and converted to REP on the platform for certain transactions.Market creators do not have to own REP tokens but initiate the market in a single ETH transaction.The bonds are automatically split into two separate transactions.
What is the Reddit page for Augur?
The official Reddit community (subreddit) for Augur is r/augur.
What is the value of Augur?
One Augur (REP) is currently worth $40.86 on major cryptocurrency exchanges.You can also exchange one Augur for 0.00074653 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Augur in U.S.dollars is $449.51 million.
What’s so special about it?
Most prediction market places are centralised.That means users can only bet on outcomes chosen by the site owners, and have to trust the site administrators not to steal funds and pay people on time.
Where can I get Augur wallet?
Augur produces its own wallet software that is available for download on its website, which allows you to store Augur on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.
Who invented Augur?
The two people most directly responsible for Augur’s founding are computer scientist Joey Krug and software developer Jack Peterson.
Who’s behind Augur?
Augur launched in 2014.The project’s crowdsale raised more than 2,000 BTC and 100,000 Ether on its first day (eventually it raised $5.5 million) and, as mentioned, Augure was one of the first major platforms built on Ethereum.