What is Augur Decentralized Oracle System?

The Augur Decentralized Oracle System is Augur's proprietary oracle system, which was built to help data from the physical world and the blockchain world communicate. Augur's oracle system helps the prediction market platform reach a consensus regarding outcomes by aggregating continuous real-time price feed data from the internet (through sources like CoinMarketCap, CoinGecko, and Binance) to achieve the most accurate live price data on an ongoing basis. Typically, market outcomes rely strongly on market price feed validation. The Augur Decentralized Oracle System works by using a Designated Reporter who stakes REP tokens to report on the outcome of events across different markets.