The Augur price includes a prediction market platform, open to everyone, where users can buy and sell outcomes of events and help determine the market's probability of an events happening. The underlying technology makes this possible in a decentralized and trustless manner.
Augur uses a token called reputation (REP) to allow users to report and dispute the outcomes of events. Ethereum is the currency used to pay out winners of outcomes, according to the REP price.
Although prediction markets have proven valuable tools for forecasting the results of many real-world events, regulatory restrictions often prevent markets from being set up. Augur aims to remove these hurdles and leverage the power of these markets.
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