Augur is a decentralized platform based on the Ethereum blockchain. Vitalik Buterin himself volunteered to advise the project at the stage of its foundation.
With Augur, each member of the network can try to predict the outcome of any event in the world. It seems that in the future the platform will make a lot of noise in the world of online games, specifically among bookmakers and online casinos. The main idea of the platform is to place bets inside the Augur system without any control levers. This is possible because of these main reasons: the margin is lower than the bookmaker's one and the control of the network is impossible due to decentralization.
The platform has its REP cryptocurrency and there is no option to use fiat money there. As a result, it becomes possible to exclude the influence of the state or other entities that may want to stop or prohibit this activity. The issue of REP tokens is 11 000 000 and the issue of new ones is not possible.
The founders of the project are Jack Peterson and Joseph Krug. One of the developers of Augur was Zack Hess, quite a well-known person among crypto enthusiasts and programmers. These people started the project in April 2014. Their idea was to put the world of betting on various events in a decentralized way. The main impetus for this idea was the closure of the InTrade prediction market in the USA. It was sued for non-compliance with financial requirements.
A year later, Augur launched its first smart contract and in March 2016 started to work in a testing mode.
The system was launched on the 17th floor of a hotel, in a room with a panoramic view to the Las Vegas Strip, so it happened in the heart of the gambling world! Right there a group of programmers uploaded a code to the Ethereum blockchain. This event has notified not only Las Vegas but the entire world about the creation and launch of Augur. This is how the revolution in the world of predictions and bettings was made.
Let's say you want to place a bet or create your own event on Augur and you need REP tokens to do this. What should you do? We suggest you to use SimpleSwap and follow the instructions below:
This is all you need to know if you want to buy Augur (REP). Thank you for your attention to our service and have good forecasts on Augur!