What Is Augur (REP)? Augur is a blockchain-based prediction market used for making online bets.

What Is Augur (REP)?

Augur is a prediction market on the blockchain that allows for immutable bets to be placed, along with community verification and governance. These smart-contract prediction markets have other purposes as well, but so far, bets are outstanding for political election outcomes, sporting events, and more. REP is the proprietary ERC-20 token used by the platform.

Who Is Augur?

Augur was created by co-founders Matthew Liston and Jack Peterson, along with the Forecast Foundation, Dyffy Inc, and angel investor Joseph Ball Costello. They have all been involved in litigation to determine who ultimately owns everything, but for now, it’s the Forecast Foundation.

Use Cases of Augur

Augur can be used to create prediction markets for any usage. Primarily it is an online betting platform and one of the most popular Ethereum dApps so far.

How to Mine REP

REP can’t be mined. It’s earned by providing truthful reports of outcomes on market events to the platform. It can also be earned by placing bets and bounties are issued by the Foundation too.

Learn More About Augur

If you want to learn more about Augur, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.

Versability

Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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