Numeraire

What is NMR and how Does It Work?

Established by Richard Craib, Numerai blends artificial intelligence with machine learning to formulate composite market insights. Traders active on this framework can partake in a process that engages data scientists worldwide. This competition sees these scientists providing valid data-driven insights based on the supplied Numerai dataset, ensuring the confidentiality of their personalized models or tactics. To preserve this information, Numerai utilizes a distinctive process known as Homomorphic Encryption. This unique process permits data scientists to craft their models utilizing the encrypted dataset without revealing the raw data. An exclusive ERC-20 token, Numberaire (NMR), fuels community participation in Numerai. These tokens are used to engage the network in its tournament governance and incentivize members to contribute their models by offering NMR tokens. Models of high quality are awarded NMR tokens, which play a diverse role in maintaining vibrancy within the platform. Leaderboards monitor model performance on a consistent schedule. It's worth emphasizing that Numerai has received backing from entities like Union Square Ventures and Placeholder Ventures, symbolizing an ambition to enhance and broaden the platform's capabilities further. In an initiative to cultivate collective participation, Numerai shares its source code on GitHub. Discoveries, frequent updates, and novel insights are regularly shared on Numerai's Medium blog. For an in-depth understanding of the structure, technology, and data scientist benefits of the Numerai platform, refer to the Numerai whitepaper.

The Vision and Mission Behind NMR

NMR, or Numerai, is a token that operates the Numerai platform, a mechanism driven by AI technology. It supplies an environment for data scientists to engage in a collaborative manner, with the token being employed in tasks such as formulating predictive models. NMR tokens hold a role within the realm of forecasting, being employed for staking on predictions, and given out in recognition of successful forecasting, motivating data scientists to craft precise models. The NMR token network governance model paves the way for community members to contribute to protocol changes, augmenting their involvement within the evolution of the project.

How to Buy and Store NMR?

To purchase NMR, Flooz.xyz offers a streamlined process. Traders can buy the NMR token directly on Flooz.xyz, without the need to own a wallet. It is a one-stop solution that ensures a smooth checkout experience, with all payment methods supported. Not only that, but using Flooz self-custodial web wallet, you can seamlessly store, send, and receive NMR tokens. Creating a self-custodial wallet on Flooz is a breeze, with options to sign up using your email, Google, or Apple ID in just a matter of seconds. This seamless and optimized trading experience has captivated over 85,000 active traders on Flooz.xyz. Furthermore, Flooz.xyz aggregates more than 50+ providers to ensure you have access to the fastest and cheapest payment routes for your NMR trades. Rest assured that with Flooz, you have complete control and security over your funds at all times, thanks to the power of cryptography.

NMR Metrics:

• Current price: $16.0092

• Market cap: $121.86 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $9.33 k