Augur (REP) is a decentralized prediction market which runs on the Ethereum blockchain, and provides a gambling and trading platform for crypto users. On the Augur network any user can create a market and begin buying and selling shares based on a market outcome. For example, a user could buy shares in the likelihood of a certain sports team winning. If the team is winning, the user could then sell some, or all of those shares at a higher price, or hold on and collect their winnings from the market creator’s liquidity pool.

Augur began in 2014 under the leadership of Jack Peterson and Joey Krug. A beta-version of the project was released in March 2016, and REP tokens were accepted on Poloniex and Kraken in the same year.

While the network is geared towards gambling, or speculation, in theory it could be used for a wide range of unique services. Anything that would benefit from crowd-sourced, decentralized financial incentive markets could conceivably find a home on the Augur network.

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