Augur (REP) is a decentralized prediction market platform built on the Ethereum blockchain, allowing users to create and participate in markets predicting outcomes in various fields. It was created by Jack Peterson and Joey Krug, with contributions from Ethereum co-founder Vitalik Buterin. The native token, $REP (Reputation), is used for reporting and disputing outcomes in these markets, with holders staking their tokens on reported outcomes. Accurate reporting is rewarded, while false reporting risks losing staked REP. Additionally, $REP holders can engage in the governance of Augur, influencing its development and protocol changes. Augur leverages blockchain to create a trustless, transparent prediction market, decentralizing and democratizing this space.
