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Augur (REP) is the 422nd largest cryptocurrency in the world by market cap, valued at $47,907,104. The current price of Augur is $6.185, which is 0.848% higher than yesterday. Prices have ranged between $6.13 and $5.78 over the past 24 hours. All prices are listed in US dollars and accurate as of January 27, 2023 12:01 UTC.
Augur is designed to function as a betting platform, but in outcome it’s more of a soothsaying device – or augur if you will. Augur is designed to use the wisdom of the crowd to consistently outperform expert predictions on everything from market movements to sports.
It costs REP, the native token of the platform, to make a bet. Correct predictions reward gamblers with more than they bet, while incorrect predictions aren’t rewarded at all. The end result is a decentralized prediction marketplace. You ask it a question, the question is put to the crowd and the wisdom of the crowd pumps out an answer that’s statistically more accurate than any expert answer.
Bets are placed through the purchase of "shares" in an event and the prediction itself takes the form of a price tag for each likelihood, showing the respective odds of each outcome according to the crowd. The system is designed to indirectly give more weight to more confident answers, with the effect of encouraging more research among participants and encouraging better-informed users to bet bigger.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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