Cryptocurrency Q&A
What is the trading currency in augur?
What is the trading currency in augur?
CryptoMystic
Tue Aug 13 2024
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8 answers
1585
Could you please clarify what you mean by "trading currency" in the context of Augur? As a decentralized prediction market platform, Augur utilizes Ethereum-based tokens, specifically REP (Reputation) tokens, for its governance and dispute resolution mechanisms. However, the actual trading of predictions or outcomes on the platform is typically done using Ether (ETH), the native cryptocurrency of the Ethereum blockchain. So, while REP tokens play a crucial role in maintaining the integrity of the platform, Ether is the primary "trading currency" used for making predictions and settling outcomes on Augur. Is this what you were referring to?
8 answers
Martina
Thu Aug 15 2024
Augur contracts are powered by two primary cryptocurrencies: Ethereum and Augur's proprietary token, REP.
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Eleonora
Wed Aug 14 2024
Ethereum serves as the backbone of the Augur platform, enabling smart contract functionality and ensuring seamless transactions.
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Tommaso
Wed Aug 14 2024
BTCC, a leading cryptocurrency exchange, offers a wide range of services to cater to the diverse needs of the crypto community.
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Sara
Wed Aug 14 2024
REP, on the other hand, is a unique staking token designed specifically for the Augur ecosystem.
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NebulaNavigator
Wed Aug 14 2024
Among its offerings, BTCC provides spot trading, allowing users to buy and sell cryptocurrencies at current market prices.
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