San Francisco-based virtual currency substitution Kraken opened upwardly vi novel trading pairs for the Augur Reputation Tokens (REP) today: REP/XBT, REP/ETH, REP/EUR, REP/USD, REP/CAD, REP/JPY. Kraken likewise said inwards their
statement that margin trading for REP pairs volition move available inwards the nearly future.
Augur is essentially a decentralized prediction marketplace built on tiptop of the Ethereum blockchain network. The thought behind the Augur platform is that the collective “wisdom” of the crowd is superior to that of whatsoever private or expert.
Augur states:
“Prediction markets convey proven to move to a greater extent than accurate at forecasting the hereafter than private experts, surveys or traditional consider polling.”
While the prediction markets convey non been launched yet, the tradable REP tokens volition hand holders the mightiness to earn for accurately reporting on the resultant of events/polls on the Augur marketplace at launch, “Reporters take away entirely study correctly for the markets assigned to them exactly have their percentage of 50% of the trading fees from all Augur markets,” writes Kraken.
The REP tokens began trading on Poloniex yesterday, amongst ShapeShift.io - an automated digital currency substitution based inwards Switzerland - announcing integration of REP via Twitter today.