What does blockchain have to do with betting on sporting events? If the Team behind Augur is able to realize their vision, the answer is everything.
Reputation (REP) is the backbone of the Augur ecosystem, a decentralized prediction market protocol built on the Ethereum platform. REP can be thought of as a utility token for the broader Augur protocol, which helps users speculate on the outcome of events such as sports, polls, and weather.
With a total addressable market that includes betting and gambling, is Augur primed to be one of the most disruptive applications of blockchain technology? Or, with a steep learning curve and limited active users, will Augur struggle to gain traction? We encourage you to develop your own opinion. This report walks you through the fundamentals of Augur's utility token REP: https://cryptoeq.io/coreReports/rep-abridged
From the report:
- An early and well-known ICO leveraging Ethereum technology and network effects
- Reputable and active development team which continues to iterate on the product
- High ceiling and lots of room to grow due to the potential users/total addressable market of a prediction market (gambling, sports betting, esports, political polls, weather, etc...)
- Very little active competition in the cryptocurrency prediction market space
- Insignificant adoption and active users, niche use case
- Even with v2 upgrade, the learning curve is steep as users must be knowledgeable about and comfortable using Ether, DAI, and REP
- Potential markets like gambling, assassination markets, etc... operate in a gray zone and will undoubtedly face scrutiny from governments
- REP users must actively participate in market resolution or face penalties which could disincentivize many crypto users who prefer to buy and hold