About Augur (REP)
 

Overview

Augur is a decentralized prediction market platform where users are rewarded for correctly predicting real-life future events by buying shares either for or against, a particular predicted outcome. Augur is Ethereum-based and runs its own token, Reputation tokens (REP). REP tokens are used to help secure Augur by the holders of these tokens using them to either report the outcome of the events listed or to create a new market on the Augur platform. Users who provide accurate reports are entitled to a portion of the market fees generated.

Technology

The value of each share in Augur adds up to $1 so, for example, in an event with a 50/50 probability of the outcome being true or false, a positive share would be worth 50 cents and a negative share would be worth 50 cents. When enough REP holders confirm the outcome of the event, the shareholders who bet on the correct outcome would now have shares worth $1 each. Users can buy and sell shares up until the event takes place. This platform provides a prediction market which isn't reliant on a central authority which therefore means it is nearly impossible to manipulate the outcome.

Future Focus

The Augur platform has now launched and is available to the public. Users can download the application and predict real-life future events, like 'Will Elon Musk make it to mars?' Looking forward, Augur hopes to continue improving code and offerings as adoption continues to increase. For further information regarding Augur, or to download their app click here.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

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POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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