Augur (REP) – We have heard so many coins and their awesome performances. It is not new that in the cryptocurrency space, there is tendency for a coin that is absolutely at the rear, come to the front in a jiffy. This is noticed of Bytecoin, and in coins like Tron which tries to take the first 10 position while dislodging other far away from where they are. The same may soon occur with Augur (REP), which is dubbed one of the oldest ICOs in cryptocurrency history.
With the recent skyrocket of Augur on Friday, after it was listed on Binance, making it the only top 100 coin or token to post a 10% gain over USD for the day, many analysts are eulogizing the coin and placing it to be a coin to HODL for the future owing to its potentials.
Throughout that day, Augur’s trade volume skydived by roughly 1900%, increasing the price with about 26% from $44.28 to $55.93, with the marketcap increasing by 11% to $615,232,200.
Augur’s recent but wonderful performance is appearing a surprise to many a number of enthusiasts who may not be aware of Augur, and it has made many point that the coin is going high places.
What Is Augur?
When you look around today, from one enclave to another, millions of dollars are won during predictions, be it in football, Rugby just by prophesying the probable outcomes of any event. While the one who wins dances to the bank, there is a possibility the one who loses, cry and cry into nothingness.
During football or any other sporting events, did you notice how arguments make the most interesting part of the discussion? Then how about it coming with incentives for every right statement made?
If you are a bit outstanding in predicting the outcome of future events, be it football or politics, or any financial update that may come out to be useful as time goes on, then you need to look up to Augur and start amassing wealth to your side.
Augur is touted as an open-source, decentralized, peer-to-peer oracle and prediction market platform built on the Ethereum blockchain. It allows users to input real-world information into its contracts and therefore ensures accuracy of real-life information through the provision of financial incentives to REP token holders to correct markets they believe have been reported on incorrectly. Augur, is rejigging the wave of prediction, and making guessing a win-win affair.
Participation On Augur Platform
Augur platform, although in Beta stage, gives room for participants to come in, in many ways. It is possible to trade share in markets, create prediction markets, or engage in reporting system to enhance Augur oracle and keep it honest.
A look Into Augur’s Markets and Trading
Like real markets, market creators on Augur have the advantage to set the event start and end times, assign reporters, resolution source, and settlement fee. Then, traders can obtain shares in Augur markets immediately after market creation.
In the same line, Augur contracts maintain an order book for every established market and offers shares at the current best price to those who intend trading. Settlement fees are then catered for by traders when positions are settled within a market. At the end of the event, assigned reporter determine the outcome, or allow Augur’s decentralized oracle to take a decision if necessary.
Reporting On Augur
As stated on Augur platform, those with REP (Reputation) token are eligible to participate in the Augur reporting system and are given the chance to dispute the outcome of any Augur market within 7 days of resolution by staking a dispute bond.
“When doing so, the Augur market will go into a dispute round, where REP holders can stake REP tokens on one of the markets possible outcomes,” Augur team stated on their platform.
“If the tentative outcome is overturned, users who participated by staking on the new winning outcome will receive a 50% ROI. There is always a financial incentive to keep the Augur oracle reflecting reality.”
“You make your predictions by trading virtual shares in the outcome of events happening in the real world. If you think Hillary Clinton will be elected President, the Yankees will win the World Series, or Leonardo DiCaprio will win another Oscar, then you will buy shares in those outcomes. If you buy shares in the correct outcomes, you’ll win real money profits.”
What People Are Saying About Augur
The fantastic characteristics of Augur make people discuss it a lot. According to some, Augur, by all indications, has the potential to dislodge top 10 coins and retain a meaningful position among.
Beyond Betting, Augur Will Perform!
One of the founders of Augur, Joey Krug, made known that the platform “could be used by farmers in Argentina to hedge against weather cycles or by Chinese traders who are unable to access the US stock market”.
He also revealed that “prediction markets could be used by doctors to more accurately diagnose patients.” With increasing use cases, Augur is seen as the future of betting and may soon be creating disruption in the betting world i.e. football, Rugby, wrestling, car racing etc.
Augur’s Recent Performance In The Crypto Space
Interestingly, Augur is trying to maintain its reputation. As at press time and according to Coinranking, it has a trade value of $51.58, market increment of 7.05%, 22.04%, in the last 24 hours and 7 days respectively. In the same vein, it has a market cap of $ 567,405,788, and 24 hours trade volume of $ 37,005,600. Unlike other coins suffering from shakes and tides, Augur maintains its stand and keep on wining accolades.
Conclusion: Augur has awesome potentials, it is possible the coin dislodges top any of the top 10 altcoins very soon.