What is Augur? Introduction to its Features

There was a crypto currency named Augur that was once listed on Japanese exchanges. Let’s take a close look at its features.

What is Augur?

Augur is the crypto currency for the prediction market. In traditional predictive markets, certain organizations such as bookmakers have become a burdensome third party with high fees and their uncertainty becoming a hindrance. By using blockchain technology, Augur offers a highly transparent forecasting market that excludes this third-party intervener.
The symbol for the Augur token is REP which is an abbreviation for the word ‘Reputation.’ One must be careful as it is sometimes confused with Ripple’s symbol XRP. As of December 30, 2018, Augur is ranked 50th in total crypto currency market capitalization.

For the current price of Augur, please see below.

Augurの時価総額(2018年12月30日時点)

Augur marketcap

For the current price of Augur, please see below.

Features of Augur

Supports various forecasts

Augur supports various predictions. For example, you can predict the following using Augur:

  • Forecasts on politics (election results, policy decisions, etc.)
  • Forecasts on events (natural disasters, market trends, etc.)
  • Forecasts on weather (typhoons, temperature, etc.)
  • Forecasts on companies (Company financial results, stock price, etc.)

Various predictions can be made because market participants themselves decide Augur’s prediction topics.

Participants bet using ETH

To place bets on the Augur prediction market, participants must use Ethereum.
A bettor can receive more ETH than they bet if their prediction hits, but will lose their ETH if it does not hit.

Reporters use REP

As there is no waist at Augur, someone participating in the forecast market must report the result of that event. People responsible for that role are called reporters. Reporters can report event results by paying with their REP tokens. If one reports the correct result, the reporter can receive a REP token as a reward.

Examples of prediction topics covered in Augur

Augur’s forecast market is already open. Here, we will introduce actual examples of the predictions in play as of December 30, 2018:

Will the price of Ethereum exceed $500 by the end of 2018?
Will Queen Elizabeth II of the UK die before the end of 2019?
In what year will Apple Inc. announce a folding iPhone?
Will a category 4 or higher hurricane hit the Florida coast this hurricane season?

Augurで予測するお題の一例

Example

Crypto currency exchanges to buy and sell Augur

Augurの公式情報

Summary

Augur uses the blockchain to provide a highly transparent forecasting market that eliminates waist and third party intervenors. People bet using ETH and those who report forecasting events can get REP tokens as a reward.