Augur (REP) Price – Current Live Value
Augur (REP) is a cryptocurrency and decentralized prediction platform where users can wager on the outcome of events. Users place a wager using REP based on one or more selected outcomes of an event, and receive a payout if they are proven correct. The wagers themselves are decentralized and determined through market mechanisms based on the willingness to 'buy' or 'sell' a wager at the current probability. This also means that users can buy a wager at a low probability, for example, and then sell that wager for a profit before the event is determined based on increase on that purchased outcome wager as a result of changing market forces.
The Augur platform is based on the underlying Ethereum blockchain, and uses the associated Smart Contracts system to structure its wagers. It also employs 'Oracles', which are rated verifiers of information, such as the outcome of one of the proposed wagers. These Oracles receive ratings based on the accuracy of their verifications, which allows users to filter out the poor performers.
The value of Augur had a number of highs and lows after its 2016 ICO, and then ramped up dramatically during the 2018 crypto boom and bust just as most other digital currencies. It then fell in value just as dramatically before the coin stabilized near its original ICO price. It is currently a top 50 cryptocurrency by overall market cap.