Report post

What is augur (Rep)?

(REP) Successfully crowdfunded in August 2015 and launched in July 2018, the Augur platform operates as a decentralized prediction market running on Ethereum blockchain. Its REP token is used as the source of reward and “gas” for making predictions.

What are Augur contracts?

Augur contracts make use of two cryptocurrencies: Ethereum and REP, Augur's native coin. Reputation (REP) is a staking token employed by reporters on the Augur network to resolve disputes or anticipate market outcomes. Reporters cover a market by putting their tokens in escrow and betting REP tokens on a likely outcome.

What is augur's Rep cryptocurrency?

Augur’s REP cryptocurrency derives its value from its ability to ensure the successful execution of smart contracts that depend on the Augur network. Most notably, REP is built into the network itself and is the only currency that can be used for reporting event outcomes.

What is rep and how do I use it?

Most notably, REP is built into the network itself and is the only currency that can be used for reporting event outcomes. In order to report on event outcomes, and earn a share of the platform's fees collected during the trading event, Augur nodes (“reporters”) need to stake REP in a special contract.

Related articles

Canadian Authorities Initiate New Project to Combat Crypto Fraud

Canadian Authorities Initiate New Project to Combat Crypto Fraud2024-09-06 09:48:40The Alberta Securities Commission (ASC) has collaborate […]

Canadian Crypto Exchanges Faces Deadline For CIRO Membership

Canadian Crypto Exchanges Faces Deadline For CIRO Membership2024-08-06 23:33:50Canadian crypto exchanges face a looming deadline to comply with new regulations, specifically CIRO membership. With the crypto deadline approaching, exchanges are scrambling to adapt and ensure regulatory compliance. The question arises: are Canadian exchanges urgently pursuing regulatory compliance? This article explores the challenges and opportunities facing Canadian crypto exchanges as they navigate the changing regulatory landscape.

Best Ethereum ETFs In Canada For 2024

Best Ethereum ETFs In Canada For 20242024-08-01 02:52:21Discover the top Ethereum ETFs in Canada for 2024, including a comprehensive guide on what Ethereum ETFs are and how they work. Learn about the evolving investments in Ether ETFs like ETHR and CI Galaxy’s ETHX, as well as the purpose and benefits of investing in ETHH. Stay ahead of the curve with our curated list of top Ethereum ETFs for Canadian investors.

Canadian Tribunal Strikes Down Bitfarms’ Poison Pill Against Riot Platforms

Canadian Tribunal Strikes Down Bitfarms’ Poison Pill Against Riot Platforms2024-07-25 15:35:16On Wednesday, Bitcoin mining firm Riot Platforms announ […]

Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction

Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction2024-07-21 22:57:17Solana ETFs’ approval prospects and SOL price predictions are gaining momentum, with investors speculating on the potential impact of these funds on SOL’s growth. The outlook is being closely watched, especially during U.S. elections, as market sentiment could shift. While CME futures are not yet a necessity, the ETF approval may serve as a significant catalyst for SOL’s price movement. Stay tuned for updates on this developing trend.

The World's Leading Crypto Trading Platform

Get my welcome gifts