Many modern cryptocurrencies are built on the open-source platforms used by other popular virtual currencies. Augur is built on the Ethereum blockchain and is decentralized (another commonality among these currencies). It was founded in 2014, with a beta version released early in 2016. It is known by the currency code REP. It is a prediction market protocol, also referred to as an Oracle. The idea is that people can trade on future events, either by using a market that is already in action or by developing your own market. You can then buy or sell shares to trade on that event and its eventual outcome. As such, Augur is very different from many other cryptocurrencies. If you are not certain of your skills in predicting future events or making money from them, this may be a currency best left to the experts.