Review on Numeraire by Jesmin Akter

The first cryptocurrency created by a hedge fund is called Numeraire. The Numeraire currency has two purposes for the platform, serving as an incentive for scientists while also acting as a method of keeping the models safe from manipulation. Something impressive is done by the Numerai platform, utilizing Machine Learning, Artificial Intelligence, Data Science, and the blockchain. By paying anonymous scientists for the best models, the platform also benefits the business as well as the scientists.



The scientists of Numerai conduct a competition every week, and new data is made available to them, which they use to develop their financial models. Once the application is ready, they publish it on the platform. To see how well the models have worked in the real world, the scientists have their top 100 performers go out into the market for three weeks. They then present the best models to a panel of investors, who award them with Bitcoins for their efforts. In order to avoid manipulation, the scientists must stake a number of Numeraire tokens (NMR) on their models. Scientists who successfully modeled a problem using their NMR token received both their NMR tokens and an extra Bitcoin reward. Numeraire tokens attached to losing models are 'burned' in the event of a loss



For scientists who want to save their encrypted data, Numerai enables them to download it from the business website. After the data has been collected, the scientists utilize it to develop models that attempt to anticipate market moves. In this system, there are machine learning algorithms and artificial intelligence (AI) techniques both used in the model creation. We pay our researchers the best performing models in Bitcoin and we pay them additionally using our own ERC20-based Numeraire token (NMR). It is also utilized by scientists, who must validate their models with stakes in order to ensure their accuracy.



In the financial markets, the Numerai hedge fund is performing well, but the same cannot be said about cryptocurrencies. Even if the Numeraire cryptocurrency only has the ability to do something little, it should still be taken seriously. Using all the new technology, Numerai is climbing toward a hedge fund with significant growth potential and promising market forecasts. Numeraire is the native cryptocurrency of Numerai, and its rate of growth is likely to accelerate shortly. Of course, when a currency is experiencing low prices, investors have the additional advantage of an eventual increase in value.