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Augur (rep)

What is Augur ?

Augur (Rep) or Reputation is an Augur Cryptocurrency based on the Augur protocol for setting up global forecast betting platforms. The Augur software is a decentralized and trustless oracle – prediction mechanism and market platform built using the Ethereum blockchain. It uses the “wisdom of the crowd” to predict the outcomes of any future event.

Augur is a global, no-limits betting platform that allows betting in BTC and Ethers. Its users can bet on anything. Forecast Foundation – a company founded by Jack Peterson, Joey Krug, and Jeremy Gardner in 2014 and advised by Ethereum co-founder Vitalik Buterin – developed Augur. The Augur (REP) is the tradable cryptocurrency built using the same algorithm.

Primary features of Augur

  • The tradable tokens called Reputation (Augur-REP) form its backbone.
  • It is the first major platform built as a proof-of-concept for the Ethereum technology.
  • It is the first major decentralized application (dApp) built on the Ethereum blockchain.
  • Anyone with Augur coins can report on the outcome of future events.
  • Augur platforms share profits and fees with honest reporters and forfeit them from dishonest ones.

Is Augur a promising cryptocurrency?

Reputation (Rep) is required to report about the outcomes of events in Augur markets. If you missed out on the Initial Coin Offering (ICO) of the Augur (Rep), you could buy Reputation on reliable third-party crypto exchanges like CoinSwitch Kuber.

How to use Augur coins?

The Augur platform ensures greater security, efficiency, and higher privacy, and you can use the Augur coin in the following ways:

  • Reporting Fee

    : Earn reporting fee by reporting truthfully on Augur markets.

  • International Transfers:

    Transfer funds internationally using Augur (rep) without mediators or charges.

  • Online Payments:

    Make payments at international stores and online retailers.

  • Investment:

    As betting markets grow, the Augur coin price would increase.

Pros & Cons of Augur coin

Pros

  • Authentic Security: More secure and reliable compared to altcoins.
  • Easy Validation: Reporters gain or lose Augur coins with each truthful or dishonest reporting.
  • Single Blockchain Access: Ethereum blockchain makes transaction processing and reporting efficient.
  • High-grade encryption: Protects your privacy and ensures complete anonymity.

Cons

  • Limited Trades: The Augur (rep) is used mainly by reporters and is not needed for trading on Augur platforms.
  • Giant Competitors: Bitcoin and Ethereum are its largest and most popular competitors.

Trade Augur coin on CoinSwitch kuber

  • You can start investments and trade with just Rs.100.
  • Allows instant withdrawal and deposit directly to bank accounts. 
  • Trade-in Augur (Rep) at zero fees.
  • Intuitive and straightforward UI.
  • Easily track your transactions and manage your portfolio.

Augur ICO summary

The Augur ICO ran from August 17 to September 5 in 2015, and 80% of the Augur (Rep) coins were sold in it. Purchase Augur coins on coin exchanges or earn them as a fee for reporting to betting markets.

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Augur is a global, no-limits betting platform that allows betting in BTC and Ethers.