DEFINITION of 'Augur REP Token'

The Augur REPutation token (REP) is the cryptocurrency underlying Augur, an open-sourced, decentralized, peer-to-peer prediction market platform.


Built on the Ethereum blockchain, Augur aims to create a highly precise prediction market that is based on the concept of “Wisdom of the Crowd” - the idea that the average prediction or reporting of enough people is far more accurate than that of a select number of experts.

On the Augur platform, one can trade on the outcome of any event, like a soccer game, and benefit by buying and selling derivatives like instruments using Augur REP tokens.

Each such event or market is created by creators who provide initial funding and liquidity by backing it up with Augur REP tokens. They receive a portion of the fee, in Augur REP tokens, for creating and running the markets. Other participants speculate on the outcome using Augur REP tokens, and win or lose the currency.

After the event is finished, a large number of participants report the outcome of the event using the Augur token (REP) and get rewarded or penalized for correct or incorrect reporting.

  1. Augur

    Augur is an open-sourced, decentralized, peer-to-peer prediction ...
  2. Security Token

    A security token is a portable device that authenticates a person's ...
  3. Kraken

    Kraken is the world's largest bitcoin trading exchange.
  4. Basic Attention Token

    Basic Attention Token (or BAT) fuels the Brave browser, which ...
  5. Acorn Collective

    The project aims to be the first blockchain crowdfunding platform.
  6. zk-SNARK

    The technology behind zcash aims to create new levels of privacy ...
Related Articles
  1. Tech

    Is 2018 the Year of the Security Token?

    With its ability to demonstrate value, security tokens could roil traditional financial markets in favor of the more hybrid blockchain models.
  2. Tech

    What is ERC-20 and What Does it Mean for Ethereum?

    Of all of the different token types available on Ethereum, ERC-20 has gained special prominence among developers.
  3. Tech

    Once-Hot Cryptocurrencies: Where Are They Now?

    Attention usually goes to the latest big names. But what happened to the previously trendy?
  4. Tech

    Equity on Ethereum: Firm Offers Real Stock Through ICO

    Not a "utility token" in sight with this (sort of) ICO.
  5. Tech

    What Are Fixed-Price Cryptocurrencies?

    A new breed of cryptocurrency has its value fixed to a particular 'real-world' asset.
  6. Tech

    A Crypto Primer: Currencies, Commodities, Tokens

    Here's a brief primer on the differences between cryptocommodities, cryptocurrencies, and crypto tokens.
  7. Tech

    Top 5 Cryptocurrencies by Market Cap

    In the ever-shifting world of digital currencies, these coins and tokens have come out on top.
  8. Tech

    What Are the 10 Most Important Cryptocurrencies Other Than Bitcoin?

    Altcoins present themselves as modified or improved versions of Bitcoin. With Bitcoin prices being volatile, we think you should keep an eye on these 10 alternatives.
  9. Tech

    The Most Successful ICOs of All Time

    In the world of initial coin offerings, outlandish ROI figures are not uncommon.
  10. Tech

    A Successful Crypto Strategy That Ignores Price?

    A strategy prioritizing coins by relative ranking could do away with price considerations.
Trading Center