A certainly interesting project in the blockchain world is that of Augur, which is equipped with the REP coin. This is a service of decentralized oracles that can be integrated into smart contracts on the Ethereum blockchain, at no cost. The software is public and open source.
As complicated as its operation may seem, its use has potential and can be applied to many use cases, for example in relation to events of all kinds, using the oracle to determine the winner of the bet.
Augur has been among the best projects in the field of decentralized finance (DeFi) surpassing even Maker, which is also reflected in the price of the REP coin: in recent months, in fact, the token has seen an increase, touching $6 during the crypto crash but almost doubling its value in the following weeks; currently, it has a market cap of over $120 million and is in position 52 according to CoinMarketCap data.a
Augur has recently launched the update phase of its platform, the V version, which will come into effect next month. It is currently possible to ask for an invitation to test it in advance.
However, the update also has some downsides: Augur is currently blocked and invites not to open positions or trade on the old version.
As mentioned, Augur operates on the Ethereum blockchain and therefore follows the same dynamics of this blockchain and its related fees, as well as the flooding of the network that could lead to a slowdown of operations.
Augur and not only
A similar project to Augur is, for example, PredIQt, which is supported by Everipedia, a decentralized encyclopedia based on the EOS blockchain, with the possibility to use either the Everipedia token, IQ or directly EOS.