Business market for any industry keeps changing and how good would it be if we are able to predict what is going to happen next such that we can take necessary precautions and make sure we are successful. Augur is a market prediction-based platform that is aimed toward achieving this future prediction.
What is augur?
It is one the hot topics conversed when people talk about the future technology and trends. Augur basically is a platform where people get to invest their share and bet with their REP (Reputation) tokens on a particular question or topic that has been put by someone within the market on the augur platform. Now once a question or event is being put up on the augur network platform say for example, “Will investing in augur have rewarding results in the year 2019?”. Members those who are part of this augur network will give their own answers based on their own prediction by betting on their tokens. Once this is completed when the time comes if the prediction is true then all members of augur who predicted it to be true will get their share back along the investment fee that was taken from them during betting. This is return is divided among all members who invested. The rest of the return from augur goes back to the member who controls the market. Usually the share that goes back to the members and the member who controls the market is equal which may differ based on the question or predictions.
So, what happens to the member who predicted it wrong? Their share is also divided and given to the members who predicted the question to be true.
How do you bet on this platform?
You can use the cryptocurrencies like bitcoin or Ethereum to bet on the prediction you make in augur.
How far is the betting promising?
The prediction model of augur is basically based on the prediction of the crowd who are members of the prediction platform of augur. The augur results are not based on the majority of prediction if that’s what you are worried about though. The results of the events happen as it is naturally and what matters is if you are among the crowd and if you have predicted the even to be true. This prediction of yours requires an extended research of your own and a little bit of REP holdings to invest in augur.
Would it not be wonderful to have a time machine to predict the future to know what is going to happen so that we can make decisions accordingly to achieve our goals. Now, think about its huge positive impact if we could predict the events that might take place from a business point of view. It would be a dream come true for all business people and this way everyone can be satisfied starting from employees to CEO’s to customers. This is what augur aims at achieving. For example, say you are one of the members of the augur network platform and you have a share in company A and you post a question asking “will the shares of company A go down or up in the next financial year?” and augur will use the crowd prediction and give you a report back saying it will go up. Imagine how helpful that would be for your business or any investments you make in anything else too.
The potential of augur is huge as it is like a boon for all business entities and especially new budding entrepreneurs who can survive in the market and satisfy everyone using this augur prediction platform.
What do you need to bet for predicting an event is true?
You require the resource to bet which is in the form of bitcoin or Ethereum. Note that REP is just reputation that is given by augur platform for you as a member when you successfully start predicting events to be true and that is not the mode by which you will be making your bets. Secondly, you have to make your statements which should be honest while predicting an event will be true or false. You don’t require anything other than knowledge on the question posted, some cryptocurrencies in hand and honest prediction. That’s all you need for augur and of course you need to be a member of the augur platform.
The opportunities that lie in augur for the future is very high as it has the potential to revolutionize the business markets as we know now. If the predictions are honest and true often then it becomes like a time machine being built that predicts the future. This will not only help business entities but also anyone else who would like to have the opportunity to change the world for the better. So, if you are looking for an opportunity to invest in something that has great potential in changing the world a better and a much helpful place then augur is one of the best choices to invest in.