Review on Augur by Mohammad Shuja

The Augur network is built on top of the Ethereum blockchain and operates according to the Proof-of-Stake (PoS) principle. By virtue of the fact that it is an ERC20 token, the REP currency is supported by all Ethereum-compatible wallets. It makes use of Ethereum's smart contracts to offer users with live, p2p, decentralized, transparent, and strong betting platforms that are decentralized, safe, and reliable. Any user may establish a new prediction event based on anything they choose, including start and finish timings, a chosen presenter, a source for solution of the forecast, and an agreement price. Users can also edit existing prediction events.



Following the creation of the market, traders can immediately purchase negative or positive shares based on the outcome of the prediction using reputation or REP coins, which is referred to as staking in Augur's terminology. After the market has been created, traders can immediately purchase negative or positive shares based on the outcome of the prediction using reputation or REP coins. It is the belief of many that if crowdsourced forecasts are rewarded, they will have a higher probability of being correct. If the event occurs or becomes true, purchasers of the positive shares will get some REP coins for each share purchased, while owners of the negative shares will lose their REP coins that they have invested in the company. If a user want to sell their shares prior to the conclusion of an event, they may do so.