Augur is a decentralized prediction market platform built on blockchain technology. It allows users to create and participate in forecasting markets, where individuals can bet on the outcome of various real-world events such as politics, sports, and finance. Augur uses the wisdom of the crowd to predict future events by aggregating information from participants.
Augur uses its native cryptocurrency called REP (Reputation). REP holders have the responsibility of reporting on the outcomes of these prediction markets, and they are incentivized to provide accurate results by earning fees and rewards. The decentralized nature of Augur ensures that the platform is resistant to censorship and offers a secure and transparent environment for users to engage in prediction markets.
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