Review on Augur by gregori cordova

Name: Augur
Item: Augur
Rating: 5

September 07, 2020

a place dreamed of by gambling fans that takes full advantage of blockchain technology

If you are a fan of gambling, or of studying mathematical analysis and data to predict future events, you will love the augur project. Augur r is a decentralized platform that uses the ethereum blockchain technology, to predict or forecast data in the market not only in the crypto market, but also to predict many other events daily, including the weather, based on various indicators. The system works basically like a bookmaker, where, for example, a user bets on the outcome of a soccer match between Germany and Russia, and decides that the winner will be Germany; However, other users can place a bet on the Russian team, creating a transparent betting system that will give winnings at the end of the match to those who have bet on the correct option, in the form of Reps, an erc20 token, which gives it life to this platform. The reward system for winning users is very interesting, because if 70% of users vote for a specific team, for example the German team, and the remaining 30% vote as the winner for the Russian team, if they win the Russian team, users who bet on their victory would receive a greater reward, due to the risk they assumed by not being carried away by the opinions of the majority
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As we have seen previously, there are an infinite amount of virtual currencies for practically any activity and Augur is one of them, which since its inception has had a great acceptance in the market especially in the sports betting market, which is usually more than 6000 million of euros per year, only in Spain, and that in a short time has been placed among the 50 ranking of cryptocurrencies with the highest market capitalization
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Pros

It is a very original platform in which all kinds of bets on events on a world scale are allowed
The platform even has the advice of great experts in blockchain such as the CEO of ethereum and the former CTO of coinbase
Augur charges a commission depending on the value of the bet and not per transaction, which is usually 0 to 2%
Reps cannot be mined since the maximum amount of coins was reached in their Ico
There is a bounty program in which developers and security experts are rewarded with up to $ 25,000 in Rep tokens for finding bugs or reporting bugs in the system.
Its cryptocurrency Rep is among the ranking 50 of cryptocurrencies with the highest market capitalization
Augur can be purchased on exchanges such as Poloniex or Bittrex

Cons