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.
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 .