Source. Crypto info.com
What is Augur?
Augur is free, public, open source software that performs as a decentralized oracle and peer to peer protocol to power prediction markets. This means that the Augur protocol harnesses 'the wisdom of the crowd' using prediction markets, and in these markets users are able to bet on the outcomes of events such as a companies performance, election results or sports results.
The Augur protocol is free for everyone to use however they see fit and is owned and operated by holders of the Ethereum-based Reputation token. Augur is easily used on a desktop client App much like interacting with a Ethereum or Bitcoin blockchain node.