Augur is an Ethereum-based decentralized prediction market that create a search engine for the future that runs on its own token, REP. The Augur protocol is a set of smart contracts that exist on the Ethereum blockchain. Augur is the first major decentralised application (Dapp).
Augur was founded in 2014 by Jack Peterson and Joey Krug. The development of Augur began in October 2014. In April 2015, Augur's first contract was uploaded to the Ethereum network . . In June 2015, an alpha version was released to the general public for testing The first working version of Augur's alpha release was published to the Ethereum test network in June 2015. In March 2016, Augur released a beta versionIn June 2016, the ThielFoundation announced it had named one of the lead developers, Joey Krug, a Thiel Fellowon August 2017, Augur announced that 8.8 million reputation tokens would be distributed via a 45-day crowdsale. The project has gone through a few iterations since then, and are in the final stages of preparing for a main network launch
Features that distinguish it from other cryptocurrencies. The Augur protocol is not just about sending money from A to B. It has many feature
Augur accounts are funded with Ether or REP tokens, which help avoid the account funding problem
Augur’s transactions take place on the blockchain so there is no requirement of the trust of a third party
Augur’s decentralized structure has many benefits beyond account funding. Augur accounts are funded with Ether or REP tokens, which help avoid the account funding problem. No centralized servers mean that no country or hacker can take down Augur by taking down a single server.
Many companies do not accept credit cards due to risk of user fraud in the form of chargebacks.
Augur aims to create the most accurate prediction markets using the “wisdom of the crowd” It offers best alternative to centralized prediction markets. The technology used by augur has great potential,allow everyone to prosper. The concept transformed many industries; marketing, financial services and gambling are the ones which immediately spring to mind. In decentralizing the market, a culture based on honesty and integrity is cultivated. Augur REP is a digital token representing the reputation for each participant in the Augur network and is one of the largest tokens on top of Ethereum’s blockchain
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