Last updated 21/09/2022
Official Website: https://numer.ai/
The goal of Numeraire, a piece of software that functions as a hedge fund, is to let people trade stocks on the Ethereum blockchain.
Users will be able to trade based on forecasts produced by a global network of data scientists utilizing blockchain technology, and they will be able to stake cryptocurrency on specific predictions.
Two programs from Numeraire are geared for various types of traders:
NMR, the native cryptocurrency coin of Numeraire, is necessary in order to process payments, wager on results, and reward tournament participants. The ecosystem also depends on the Ethereum blockchain's Erasure protocol, a collection of smart contracts that Numeraire uses to either reward users who correctly predict an outcome with their NMR tokens or destroy them if they were wrong.
You can bookmark Numeraires blog to receive project updates from their team and learn more about the Numeraire platform.
The hedge fund start up Numerai invented and produced the hedge fund software, which is based on the Ethereum network. Richard Craib established Numerai in San Francisco, California, in 2015. The Numerai project underwent four different investment rounds from 2016 to 2020, during which the business raised about $21 million.
One million NMR tokens were provided by the Numerai corporation in 2017 and were given out to data scientists who had previously competed in competitions. The project's major objective is to provide customers with an automated model for trading stocks that is based on AI, machine learning, data science, and encryption.
This plan is the high level guide to what they are trying to do over the next several years. They are mainly focussed on part one right now: monopolize intelligence. This is current roadmap.
Numeraire tokens are built on the Ethereum (ETH) network and can be stored in any wallet compatible with Ethereum-based ERC-20 tokens. All ERC-20 tokens including NMR token can be stored on the Ethereum blockchain using MyEtherWallet, allowing users to interact with the network without additional software.
If you are looking for a cold storage wallet to keep you Numeraire tokens offline safe, we recommend using the leading hardware providers Trezor and Ledger.
Similarly, a user-friendly option to keep your $NMR secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting your MetaMask wallet.
Trust Wallet is a wallet that can hold a wide variety of cryptocurrencies such as Numeraire (NMR) making it highly desirable for users who wish to have a varied portfolio.
Always conduct your due diligence and research into any wallet provider you consider. Check out our Wallet Guides page for further information on setting up and using various wallets.
You can Buy & Sell Numeraire (NMR) by heading over to the Buy Coins page of our website. Numeraire (NMR) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Numeraire has never been easier, simply place your order and provide your wallet address.
Once your payment arrives Numeraire (NMR) will be sent directly to your wallet. If you choose to Sell Numeraire (NMR) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.
Block Explorer: https://etherscan.io/
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.