Numeraire (NMR) is a cryptocurrency and blockchain project that focuses on using collective intelligence and machine learning to improve predictive models in the field of quantitative finance.
Numeraire operates as both a cryptocurrency and a platform for incentivizing data scientists and developers to create and contribute to predictive models. Numeraire aims to harness the power of crowdsourcing to develop more accurate financial models and insights.
Crowdsourced Predictive Modeling
Numeraire aims to improve the accuracy of predictive models used in quantitative finance by crowdsourcing the creation and optimization of these models.
Numeraire operates on the Ethereum blockchain, leveraging its smart contract capabilities for creating and managing incentives for model development.
Participants use machine learning techniques to develop predictive models that can generate insights about financial markets and assets.
Token (NMR)
NMR is the native cryptocurrency of the Numerai platform. It is used for staking, participating in the Numerai tournament, and earning rewards.
Data scientists participating in the Numerai tournament stake NMR tokens to enter the competition. The best-performing models receive NMR rewards.
Source: https://coinidol.com/numeraire-nmr-token/