The volatility of the Cryptocurrency market makes one expect anything. Countless of incident that may look irrigational all things being equal has taken place in the crypto market without gaping anyone as the sphere gives room for the growth of any coin in the table irrespective of its position. The skydiving nature of the market as at the last 24 hours did not affect Augur (REP) and Decred (DCR) The two coins have been doing fantastic in the market, with many observers pointing that they are almost not praised by the cryptocurrency community.
Augur in the market
At the time of writing this article, Aurgur rose up to add more to its value in the table. In the last 24hrs, according to coinmarkecap, Augur had a 13.05% plus to its value in the market, trading volume of $21,315,800 USD and a total market cap of $633,110,500.
Augur (REP) Chart. Source: coinmarketcap.com
Decree In The Market
Decred has a market cap of $696,945,029, 24 hours volume of $696,945,029, and has 24 hours increment of 6.96%. Interestingly, it is ranked 33 according to coinmarketcap.
Decred (DCR) Chart. Source: coinmarketcap.com
Augur: The Prophetic Cryptocurrency
Bitcoin might be the chiefest of the digital coins within the cryptospace at the time, but Augur is the altcoin with the flashlight to the future. Although it does not rank among the first twenty notable crypto coins, Augur has proven to be the most resourceful in projecting into the future while at the same time providing solutions to financial qualms.
Augur is the first major DAPP (Decentralized Application) built upon the Ethereum block-chain. It belongs to the prediction market, which is the exchange-traded market designed for foretelling the outcome of events. Jack Peterson and Joey Krug created this platform in 2014.
How does Augur work?
The Augur platform allows for people to make predictions about world events after which they get tradable tokens called REPUTATION. When people make transactions based on the prediction of REP holders and win, the REP holders are awarded with a part of the winnings.
Of course, to reduce the risk level for traders, the Augur network algorithm sees to scoring truths and penalizing falsities. The inputs of those who have, as a result of consecutive accurate predictions, acquired many tokens, get to earn the trust of the prediction market. Meanwhile, REP holders who give false predictions lose their reputation tokens and earn nothing monetarily. Generally, REP holders are referred to as Reporters.
According to worldcryptoindex.com, a REP token sold for $0.5795 during its release in August 2015. By 2017, the price had reached $21.73. During that year, the highest price of one token was $38.69. As of November 2017, the 11 million REP in circulation had a market cap of $276,630,200 with a daily volume of $4,788,060. The highest REP token a single holder can earn is pegged at 11million.
Owning a Reputation grants a holder the right to be paid in returns for making information available to Augur. One reputation token is equal to 1/22million of all the fees on Augur. Owning reputations comes with responsibilities, although the scope of work requirements is limited.
At the start of a reporting period, which is usually a range of 30 days, REP holders are assigned markets to report on. Augur expects to get a feedback from her reporters within 30days of the assignment and failure to do so might cost a reporter up to 20% of his reputation token.
Afterwards, the next 29 days is dedicated to revealing the predictions of reporters to the public. All a reporter needs to do at this stage is log in once during one of the 29days. Reputations can become dormant at this stage if the reporter ceases to engage the platform. However, dormant reputations bring little or no yields to their holders because they can neither report nor earn trading fees. In fact, it is not subject to redistributions.
Decred Is An Awesome Project
Touted as an autonomous digital currency, Decred is not a popular cryptocurrency that every Tom, Dick and Harry talk about. In the word of Gandalf the White, “Decred is Bitcoin as it should have been.”
The cryptocurrency is designed from 100% proven open-source technology, and conforms with the latest blockchain technology. The technology behind the coin birthed the world’s first successful direct on-chain user-activated consensus vote. This is a groundbreaking tactic to stakeholder governance where stakeholders in the community make decisions together.
Decred Innovative Solutions To Governance
The cryptocurrency has managed to proffer long-lasting solution to blockchain governance through its consensus voting model which gives room to stakeholders to achieve seamless transition from one set of rules to another.
“Decentralized decision-making and self-funding have enabled us to build a robust, evolving digital currency, free from third party influence,” the team behind the project has said.
The cryptocurrency gives room for individuals, group, and companies who participate in Decred’s decision-making are rewarded for their efforts.
According to the team behind the project, “Sustainable funding and a resilient contractor model allow for anyone to join Decred at any time and engage in its governance.” “Decred’s value is in the people who work on it – together we’re building the decentralized future we want to see.”
While no one knows the future, and the market remains a flexible one, the present market, in a big way speaks much about the two altcoins and their potential for greatness, making their future a bright one.