Unlike exchanges where assets are traded, prediction markets let users bet on the outcome of future events. Users can create and exchange “shares” of an outcome and its value without relying on intermediaries.
REP Price
The total supply of Augur tokens is 6.9 million REP, and unlike with most other cryptocurrencies, new REP won’t be issued in the future.
REP price hit its all-time high of $341.85 in February 2016, but has never come close to that level since. In January 2018, REP prices briefly returned above $100 but crashed again as the entire market turned bearish. Despite a few slight uptrends since that time, REP has mostly traded in the $20-$25 range.
How Does Augur Work?
Sharding is a blockchain scaling solution that involves using multiple smaller blockchains to process transactions and smart contracts, as opposed to a single blockchain. This solution will enable Ethereum to handle significantly more transactions per second, reducing transaction time and costs. This mean faster and cheaper transactions for Augur users too.
All purchases of shares in Augur’s prediction market are made with eth, the native token of Ethereum, or with the stablecoin dai.
Augur has a four-layer execution process:
Key Events and Management
