What is Augur (REP)?
Augur software is a decentralized prediction market platform built on the Ethereum Network. The Augur token (REP) is an ERC20 token used for betting on the platform.
What value to buyers of Augur (REP) see in it?
Peer to peer decentralized betting platform, users can create betting markets on different events and users can bet on them.
Decentralization (in various forms) within gambling is going to be responsible for a lot of the innovation in crypto because online gambling sites are the most difficult (and expensive) payment transactions made online.
What are the criticisms of Augur (REP)?
The ability for anyone in the world to bet on markets involving assassinations, has already made some headlines. Bitcoin holders would have to buy REP or another altcoin to buy the token and then have any bets made on the Augur platform fluctuate, due to the REP price fluctuations. A small detail if bets are made on markets that close shortly, betting a year before a presidential election could have huge fluctuations to a gamblers amount won.