What is Numeraire (NMR)?
is a cryptocurrency developed by Numerai, a hedge fund based in San Francisco that focuses on crowdsourcing artificial intelligence (AI) to invest in stock markets worldwide. The goal of Numeraire is to provide quality data for investments by utilizing AI and machine learning. The cryptocurrency runs on the Ethereum network as an ERC-20 token.
Who founded Numeraire (NMR)?
Numeraire was founded by Richard Craib, a graduate of Cornell University with a background in mathematics and economics. Craib previously worked as a data scientist at an asset management company before founding Numerai. Since its inception in 2015, Numerai has raised significant funding and has a team of experts in AI and machine learning.
How does Numeraire (NMR) work?
Numeraire functions as a platform where users can make predictions on the stock market. The platform utilizes AI and machine learning to generate quality data and offers users the ability to stake their predictions with NMR tokens. Successful predictions are rewarded with more NMR, while incorrect predictions result in the loss of the staked tokens. The platform utilizes the Erasure protocol to verify predictions and distribute rewards.
What sets Numeraire (NMR) apart?
What sets Numeraire apart is the use of AI and machine learning to generate quality data that is current and relevant. Unlike traditional methods that rely on historical data, Numeraire uses real-time data to make predictions. This enables users to make better investment decisions based on real-time information.
How can Numeraire (NMR) be used in the future?
Numeraire has potential for further growth and adoption in the financial sector. The platform can be used by both individual traders and institutional investors to make better predictions and improve their investment strategies. Additionally, the use of AI and machine learning in conjunction with blockchain technology can provide new opportunities for data analysis and investment decisions.
Additional information about Numeraire (NMR)
Numeraire has a maximum supply of 11 million NMR tokens
. It is tradable on various cryptocurrency exchanges and can be stored in an Ethereum-compatible wallet. Numerai's platform has a strong community of users and developers who contribute to the growth and development of Numeraire.
Can I make money with Numeraire (NMR)?
Yes, it is possible to make money with Numeraire
by making successful predictions and receiving rewards in the form of NMR tokens.