Numeraire (NMR) is the native cryptocurrency of the Numerai project, a blockchain-based platform that leverages machine learning technology to experiment and create effective prediction models for the stock market. Numerai aims to decentralize the data science field and allow developers to compete in creating effective machine learning prediction models.
In addition to creating prediction models, Numerai also functions as a hedge fund. Users can trade equities on the Ethereum blockchain based on predictions made by a global network of data scientists using artificial intelligence.
The Numerai project combines blockchain technology, machine learning, cryptography, and data science to predict the stock market and enable users to trade equities based on those predictions. Union Square Ventures and the co-founders of Renaissance and Coinbase back the initiative.
The NMR cryptocurrency, an ERC-20 token issued on the Ethereum blockchain, powers the Numerai platform. Developers can stake NMR to participate in Numerai's tournament, submitting their prediction models and competing for rewards.
