Augur Crypto currency meaning by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about what is Augur Cryptocurrency.
What Is Augur ?
Augur is a trustless open-source, decentralized oracle and prediction market platform built on the Ethereum cryptocurrency.
Augur was founded in 2014 by Jack Peterson and Joey Krug to develop a decentralized oracle and prediction market platform on the blockchain that could be deployed by anyone as open-source software. The alpha version of Augur was released on the Ethereum testnet on June 16, 2015. The first beta version was released in March 2016. A main network release of the first official Augur trading market (the bounty market) is currently planned for early 2018 (with the full Augur platform released for deployment in stages following the successful resolution of this inaugural market).
Reputation (REP) tokens are the cryptographic token behind the Augur platform. The use of REP tokens on the platform helps secure Augur by having REP holders arbitrate (or judge) the outcome of prediction markets created on the Augur platform. However, the vast majority of Augur participants will never need to hold, see, or even use REP to place trades on any given Augur market. Instead, REP tokens are only needed by market makers (when they create a new market on the platform) and by reporters when they report on the outcome of markets created on the Augur platform. By owning REP, and participating in the accurate reporting on the outcomes of events, token holders are entitled to a portion of the market fees generated by the platform.
What is Augur Cryptocurrency Conclusion
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