Altcoins on the Block #7 Augur Coin
In the series "Altcoins on the Block" I will have a look at different altcoins and explain what the coins are all about. In this edition I have a look at Augur Coin.
Augur Coin - Unique Marketplace for Forecasts
Augur Coin is a decentralized forecasts market, where the swarm intelligence is to be used to make accurate predictions. Accurate statements of participants are rewarded, faulty punished. With the help of Augur you can bet on almost everything, at the same time the platform should also be completely independent.
Augur Coin - What is this Cryptocurrency?
The cryptocurrency is a slightly older project. Augur, named after the Roman priests, was the first major platform developed on the basis of the Ethereum blockchain. The development deliberately relies on the blockchain technology, because the forecasts market should be completely independent and not manipulable. In addition, according to developers, such platforms are always at risk of being regulated or even banned by governments. Since the blockchain of the coin is not centrally stored on any server, it can not really be deleted.
The token of the Augur platform is the "Reputation", REP for short. There are a maximum of 11 million of them. This token serves to reward those who make correct statements. Only when someone holds the token on the wallet, he is allowed to make statements. If his statements prove true, he gets more reputation. If not, he loses it. The number of REP tokens held determines the value and trust that reporters get in the network. At the same time, correct forecasts also give you a share of the fees that are charged to the market. Thanks to the Smart Contract technology, which is integrated with the Ethereum blockchain, these coin distributions are done automatically.
Buying Augur Coin is only necessary if you want to do make predictions. You do not need a reputation to use the platform. Anyone can set up events on each topic and buy stocks for the possible outcomes. Bitcoins or Ethers are used for this purpose. These are also used to pay for the actual betting fees and are also used to reimburse the reporters, those who make predictions.
This results in forecasting markets for every imaginable topic. According to the developers, growers can also use Augur to insure that bad weather destroys their crops or even doctors use the platform to make more accurate predictions about their patients.
The blockchain of the Coin can do a fork in case of doubt, should opinions differ too much on a topic. If a fork happens a part of the blockchain splits off and forms a new strand. At the end, the invalid string is deleted.
Augur Coin - Who is behind the Cryptocurrency?
The development began in 2014, when the two founders Jack Peterson and Joey Krug published the first white paper. Jack Peterson is the main developer, while Joey Krug takes care of the back-end. Since then, a small team of different software developers has formed. As a one of the advisors for the team, Vitalik Buterin the founder of Ethereum, got on board. Also Elizabeth Stark, the founder of Lightning, a network for Bitcoin transactions.
An online token crowdsale was held in September 2015 to launch the alpha version of the platform. At that time, a total of 5.3 million dollars came together. Thus, the cryptocurrency was one of the top 25 most successful crowdfunding projects of all time. The beta version followed in 2016. The development is not yet completed.
The Augur Team:
The Augur Advisors:
Augur Coin Pros and Cons
The cryptocurrency is not without competitors. On the part of the blockchains, the coin "Gnosis" tries to build a similar platform. At the moment, however, buying Augur Coin is cheaper. Apart from that, Augur still competes with other betting platforms like Betfair, Bookmaker and Nadex. These do not have the advantage of being decentralized. But this probably does not bother most users who are interested in betting, that is, they do not share the passion for cryptocurrencies. Other aspects of betting platforms are more important. So if nobody has an interest in using Augur's platform, it's not worth buying the coin as an investment. Because you can not do much with the coin if you do not belong to the reporters yourself.
Reputation rewards honest behavior and accurate predictions, while the platform behind it is difficult or impossible to manipulate. At the same time, the fees for the providers of bets are also very low. These are a few advantages over other betting platforms. Ultimately, however, one must wait for the development and whether the team can achieve all the goals it has set itself.
Buying Augur Coin is not cheap. The course has developed very well over the years. The times to buy cheap are over. But that also shows that traders see a potential in the coin.
The white paper was revised by Augur according to the last Twitter tweet and published on 29.01. made available.
Augur Coin Course - Development - Forecast
In 2015, not much has happened at the Augur Coin course, the Coin noted between 1 and 2 euros. At the beginning of 2016, the coin increased to 4 euros, in March it was up to 12 euros. Thereafter, the price dropped and held for the rest of the year usually between 4 and 5 euros per coin.
In January and February 2017, she behaved similarly to the cryptocurrency. In March, a rise was again recorded, this time only up to 8 euros. Thereafter, the price rose steadily, in April up to 13, in May over 20 and June 30 Euro. In July, August and September, the price fluctuated between 15 and 25 euros per coin. In October and November he was mostly around 15 euros.
At the end of November, the price of the Augur Coin moved back up to 20 euros. In the first half of December, the price reached up to 30 euros. Before Christmas, he suddenly shot to almost 90 euros and then calmed down at 60 euros. The Augur Coin recorded another price increase to 90 euros in January 2018, after which the coin lost its value again and is and the moment by 29.314276 euros.
Nevertheless, the coin is quoted at levels above those of the previous year. Where exactly the course is concerned, it is difficult to say, a renewed increase in price as well as losses are possible. At the moment this probably depends on general developments in the crypto market.
Create an Augur Coin Wallet
The platform does not yet have its own Augur Coin Wallet. Alternatively, wallets that hold ERC20 tokens, such as REP, may be used. These include Jaxx, Mist or MyEtherWallet. The MyEtherWallet is very popular, easy to download and to install. All you have to do is transfer a few Ether tokens to the wallet to activate the wallet.
Where can I buy the Augur Coin?
Buying Augur Coins is possible on the following crypto exchanges:
1 Bittrex REP/BTC
2 Poloniex REP/BTC
3 Upbit REP/BTC
4 Kraken REP/EUR
5 ChaoEX REP/ETH
6 Poloniex REP/USDT
7 Ethfinex REP/BTC
8 Ethfinex REP/USD
9 Upbit REP/KRW
10 Kraken REP/BTC
11 Poloniex REP/ETH
12 Ethfinex REP/ETH
13 Kraken REP/ETH
14 HitBTC REP/BTC
15 HitBTC REP/ETH
16 Bittrex REP/ETH
17 Liqui REP/USDT
18 Liqui REP/ETH
19 Liqui REP/BTC
20 Gate.io REP/ETH
21 Upbit REP/ETH
22 Cryptopia REP/BTC
23 Gatehub REP/ETH
24 BX Thailand REP/THB
25 Gatehub XRP/REP
26 Mr. Exchange XRP/REP
27 Radar Relay REP/WETH
28 Mr. Exchange REP/JPY
29 Cobinhood REP/ETH
30 LiteBit.eu REP/EUR
31 Lykke Exchange REP/ETH
32 Livecoin REP/BTC
33 Abucoins REP/BTC
34 Livecoin REP/USD
35 Mr. Exchange REP/ETH
36 Mr. Exchange REP/BTC
37 Mr. Exchange REP/USD
38 Livecoin REP/ETH
39 Mercatox REP/BTC
40 Gatecoin REP/BTC
41 Qryptos REP/BTC
42 Lykke Exchange REP/BTC
43 IDEX REP/ETH
44 BigONE REP/BTC
45 Cobinhood REP/BTC
Conclusion Augur Coin
Reputation is one of the top rated tokens on the crypto markets. That alone should make you sit up and take notice. With this token, the platform has much more to offer than so many other betting markets. Certainly a coin to keep an eye on.
For more information please go to there webside and the white paper.
I hope this post provides some value to yourself and please feel free to use this as a resource to help answer questions and bring awareness to the project of Augur Coin.
Series:
- Altcoins on the Block #1 Funfair 🎲
- Altcoins on the Block #2 DeepOnion Coin
- Altcoins on the Block #3 MediBloc Coin
- Altcoins on the Block #4 Syscoin
- Altcoins on the Block #5 Basic Attention Token
- Altcoins on the Block #6 Cindicator Coin
Image Sources:
- Post header created by myself
- http://augur.link/augur.pdf
- http://www.augur.net/
- twitter.com
- https://coinmarketcap.com/currencies/augur/
Video Source:
Have a nice day!
LOVE&LIGHT
Best regards
Posted on Utopian.io - Rewarding Open Source Contributors
Thank you my friend for giving us a nice foundation about Augur
Your welcome buddy :)
Hello Dear Steemian,
I am S.A.R.A.H. (Search Automatically High Reward Articles) Bot.
I'm an artificial intelligence that automatically looks for posts that expect high rewards. I recognize such posts, make my upvote on them and get a high Curation Reward. If you want to join in, you can hang on to my curation trail. You can follow me on Steemauto or on Streemian.
If it looks like this you are doing it right:
Let's maximize our curation rewards together!
Yours,
S.A.R.A.H.
ugh alt coins so badly bleeding right now
Yup but it will go up again as always :)
Good time to buy ;)
this article is going beyond my mind and i hardly understood the block
Okay thanks maybe you have to read it a second time to fully understand it ;)
Yes I agree with my friend...I appreciate your post...Keep it up...Resteemit dear..💕💕💕
You got a 13.42% upvote from @buildawhale courtesy of @danyelk!
If you believe this post is spam or abuse, please report it to our Discord #abuse channel.
If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.
When I first saw their beta "trading" platform or whatever I wasn't really impressed by it ,to be honest...
Wow, never heard of this one (little lazy these days:)) , but definitely potential to keep an eye on it. Nice post man!
Your contribution cannot be approved because it does not follow the Utopian Rules.
Related Rule:
Suggestions:
You can contact us on Discord.
[utopian-moderator]
Dude you approved last week my post "Altcoins on the Block #4 Syscoin" which is written in the same way as that one here now you are confusing me!
Yes, and after I'm told that I should have reject it since it doesn't contain personal experience and it's not adding value to the community because the most of the post content is paraphrase of the whitepaper, by my supervisor.