It is beyond the shadow of the doubt that Information and accurate prediction plays a very crucial role in the world of investment. Investors who armed themselves with accurate information could easily earn thousands and millions. Needless to say, there is a huge demand for product which is able to provide accurate forecast on the outcome of an event . With the help of those forecast results, investors will be able to make a wiser investment decision with less risk and AUGUR is a project which is capable of achieving that.

Created using Solidity and JavaScript by the Forecast Foundation, Augur is an Ethereum based decentralized platform for market prediction purposes. The platform was founded by Jack Peterson and his partner Joey Krug in 2014. After three years of developments, the platform is now live since the July of 2018. Augur allows its users to bet on an outcome of a real life event and gain/lose money based on the real life actual outcome of the event which interestingly, sounds awfully similar to gambling and this lead to Augur being placed on a significantly more precarious position compared to other crypto projects due to strict regulations  Additionally , the native token being used on the AUGUR platform is known as Reputation Tokens (REP).

Here is a quick overview on how Augur works.  Firstly, a user on the platform is able to create a prediction market around an event using small amount of Ethereum. Then, other users and participant in the platform are able to vote/bet on the outcome of the event. Depends on the actual outcome of the events , the participants can either win or lose money. However , it is important to know that the AUGUR platform itself does not have to capability of predicting outcomes of an event. Instead, by facilitating a sophisticated information/result reporting system to encourage honest reporting , AUGUR is able to provide forecast on events based on users’ bet.

To further explore and understand what AUGUR really is , We have provided the original and unedited PDF of AUGUR (REP) Whitepaper for our readers to understand and digest the details of it .


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