The Augur network
Augur is a decentralized network that creates prediction markets. Its operation is based on the Ethereum blockchain. Any user can open a predictive market by investing tokens. Then, the creator is rewarded if his prediction is correct, via a percentage of the fees generated. The Augur network is therefore inspired by betting platforms, but the blockchain makes it possible to record a greater number of participations and predictions. In addition, users can create any bet on Augur without the latter being validated by a central organization. All other members will be able to participate for a relatively low fee.
REP tokens
The Augur platform uses REP tokens. The REP represents a sort of score. This is not an investment of liquidity but a token that can account for the outcome of the event predicted. It is therefore not a central authority that validates the outcome of the event but the set of PWR holders, called "oracles". If an oracle decides to announce a false result, all his REP tokens will be redistributed. Thus, cheating and error are almost impossible.
Money supply
11 million REP are in circulation, the limit is fixed. Following the ICO (Initial Corner Offering), 80% of the chips were sold, the development team received 16% and the foundation that manages the maintenance and promotion of Augur (the Forecast Foundation) obtained 4 %.
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