What Is Augur?

In the past, prediction markets have generally been centralized, and the optimal way of aggregating trades has been through the use of a physical ledger. However, it should be understood that centralized prediction markets come loaded with innate risks and limitations. For example, they not only restrict global participation, but also require traders to place their trust in a third-party operator. This is where Augur (REP) comes in. It is designed to be a trustless, decentralized prediction market platform that allows casual and experienced traders to speculate on a wide array of future events. The functional model is quite simple — correct