What is Numeraire (NMR)?

Numeraire (NMR) is a cryptocurrency token, which solves major problems in the machine learning industry. Furthermore, the creator of this token had a solution regarding the new auction structure that made economic misuse unsuccessful.

The operation of the auction makes bidding behavior become balanced and above all, shows the data scientists’ confidence in the model’s ability to make good new data. By using this auction structure, users will see the natural arguments about the economic value of a Token Numeraire (NMR).

Artificial intelligence (AI) and the bidding system are the causes of an AI hedge fund.

Richard Craib was the founder of Numeraire (NMR). He and the team built technology to hide the fund’s transaction data before sharing it with a large community of anonymous data scientists.

Numeraire (NMR) has created a platform to encourage financial companies to work anonymously to improve hedge fund management. The organization is anonymized to create an AI machine learning capable of managing financial securities effectively.

Numeraire’s technology

By using AI or artificial intelligence, developers have created an intelligent venture capital fund. And it works anonymously based on a database collected by anonymous scientists.

Numeraire is based on a method similar to homogenous encryption. Its operation ensures that scientists cannot see the company’s proprietary details. However, scientists can build machine learning models that analyze trades, theories, how to trade securities finance … more effectively.

Numeraire gives business data to scientists, but it is in abstract form. So scientists built this model of machine learning without even knowing what they were doing. Anonymous scientists are paid for this work in digital money (can protect their identity).

Numeraire was not the first company to discover this. Prior to it, such as Renaissance, Bridgewater Associates, and startup technology companies also discovered the use of machine learning in hedge funds. But, Numeraire’s main difference is the crowdsourcing effort to create these learning algorithms.

Numeraire crypto token

NMR is an ERC-20 Ethereum token. It is represented by Smart Contracts made on the Ethereum Blockchain

All cast Numeraire is sent to Numerai and uses Ethereum’s Smart Contracts to ensure there are never more than 21 million Numeraire in circulation.

Team

Numeraire is a product of hedge fund firm Numerai, initiated by CEO Richard Craib in late 2015. The cryptocurrency was launched about a year after the hedge fund. It aims to overcome the challenges that the project faces when operating on the Bitcoin network.

Numeraire’s board consists of founder and CEO Richard Craib (a Forbes 30 under 30 awardee), Georey Bradway and Xander Dunn.

Advisors include Coinbase co-founder Fred Ehrsam, Polychain founder Olaf Carlson-Wee and Ash Fontana, a board member at Kaggie, among many others listed on the site.

Conclusion

Numeraire is a unique platform that encourages users to create smarter machine learning algorithms that can be used to manage hedge funds. The San Francisco startup aims to address an important issue in the hedge fund and machine learning community.

The company created an auction mechanism by using the Numeraire token encryption method that made the economy exceed the allowed limit. It introduces the benefits of networking that bring the effect to the peak of the financial world. However, there are a few things that have never been done before.

Numeraire’s ultimate goal is to create resources for the creation of machine algorithms to manage hedge funds more effectively. That leads to smarter financial market management.

It can be asserted that Numeraire is an integrated activity that can delve into blockchain and mathematical technologies.

You can check Numeraire price here.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS