Augur (REP)
A Decentralized Oracle And Prediction Market Platform.- Augur is a trustless, decentralized oracle and prediction market platform running on the Ethereum blockchain. On the platform, anyone can create, monitor or trade in prediction markets about any topic.
- The system relies on the "Wisdom of Crowds'' (i.e., collective intelligence') via market incentives, "long-tail'' dynamics and blockchain technology to securely generate a more accurate, robust and unfiltered array of dynamic event forecasts than any alternative can match.
- Augur is comprised of a set of smart contracts perpetually deployed on Ethereum, which enables applications deployed to be immune to local outages and censorship from third-parties.
- The REP token is used for the resolution of markets. Specifically, it is staked for an outcome of a market for anyone wishing to report the correct outcome of a market. It also powers the distributed oracle with the outcomes of events.