User reviews, payment system information Augur

Augur is an open source decentralized prediction market platform built on the Ethereum platform. With Augur, a user can bet on the outcome of an event. If the prediction is fulfilled, then its creator and the network members supporting him earn. Augur does not have a central account, and the platform used is distributed among the owners of the asset, for which payment by electronic wallets is provided.

The platform has its own REP token, the use of fiat funds is impossible.

Networking Algorithm:

  • An event is created (for example, the Russian national football team will win the World Cup);
  • Set the rate (for example, $ 10,000), commission, number of shares and share price;
  • Those who want to support the bid buy shares “for” or “against” the probability of the event;
  • Further, REP owners as judges determine the outcome of the event (the more judges are involved in the process, the less chance of cheating)
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