Hello and welcome to this blog post about Augur REP White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Augur REP white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Augur (REP).
I can ensue you that, you will be able to understand every bits and pieces related to Augur (REP) after going through the Augur REP white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Augur REP White Paper
Augur REP white paper will be going to provide you, all the information that is needed to get started with Augur (REP), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Augur (REP).
“Augur is a trustless, decentralized oracle and platform for prediction markets. The outcomes of Augur’s prediction markets are chosen by users that hold Augur’s native Reputation token, who stake their tokens on the actual observed outcome and, in return, receive settlement fees from the markets.
Augur’s incentive structure is designed to ensure that honest, accurate reporting of outcomes is always the most profitable option for Reputation token holders.
Token holders can post progressively-larger Reputation bonds to dispute proposed market outcomes.
If the size of these bonds reaches a certain threshold, Reputation splits into multiple versions, one for each possible outcome of the disputed market; token holders must then exchange their Reputation tokens for one of these versions.
Versions of Reputation which do not correspond to the real-world outcome will become worthless, as no one will participate in prediction markets unless they are confident that the markets will resolve correctly.
Therefore, token holders will select the only version of Reputation which they know will continue to have value: the version that corresponds to reality.”
White Paper Link: Augur (REP) White Paper
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