Review on Augur by Benaiah A. Akinlade
Betting without borders on Augur
Augur was one of the first ICO and Ethereum apps to get noticed for its blockchain betting. It was launched in 2015, and it uses prediction markets on a protocol owned and operated by holders of the Ethereum-based token. Augur is a p2p decentralized exchange that allows every interested person to have access to its markets. It is open anyone to create a market for anything to predict on. 1 Augur (REP) is exchanged at USD 16.56
Users are able to bet on the outcomes of events like performance companies, results of elections and natural occurrences. They can do this by buying shares that is either in favour or against the possible outcomes of such events.
It is such a transparent exchange that there is no limit on what you can bet on, no maximum limits on the amount you can use in betting and no stringent requirements to place your bets.
It is powered by Ethereum, so payout is an automated process that nobody can interfere with.
Users are able keep majority of their winnings as the platform charges low fees and gives the best odds.
Augur is a betting platforms that;
1. Charge low fees,
2. Does not ban winners,
3. Does not delay withdrawals,
4. Does not freeze accounts,
5. It is globally accessible,
6. Protects privacy, and
7. Let’s you sell your bet mid-game.
Pros
- There is a low fee charged on transactions
- There is fast payments of winnings
- Transactions are secure
- There is no limit to what you can bet on
- There is no limit to how much you can bet
- The platform is available globally
Cons
- Highly dependent on the Ethereum network blockchain
- Not many languages available
