Checking on coinmarketcap i can across this coin that was added 1 day ago,coming with an amazing force and rank 46 on coinmarketcap.coming to market to gain 167% in just a day.wao that is wonderful.
Though the price was high but let look at what it has to offer.
Numerai is using advances in structure-preserving encryption to allow for open participation in the problem of stock market efficiency.it is a new cryptographic token that can be used in a novel auction mechanism to make overfitting economically irrational.”
What is happening here is proof of intelligence.With performance falling, investors fleeing and offices closing, hedge funds had a rough 2016.
Instead of relying on the genius of a single person or small team, the firm uses encrypted data sets to crowdsource stock market prediction models built with artificial intelligence from 12,000 anonymous data scientists worldwide who compete to win bitcoin.
And if that flew over your head, the main takeaways are that this hedge fund has orders of magnitude more data scientists trying to improve its investing strategy than the biggest name hedge funds today, and what makes the firm possible is a confluence of technologies that didn’t even exist a few years ago — primarily in cryptography and artificial intelligence.
How Numeraire Works
Data scientists entering Numerai’s tournament currently receive, weekly, an encrypted data set that is an abstract representation of stock market information that preserves its structure without revealing details. The scientists then create machine-learning algorithms to find patterns in that data, and they test their models by uploading their predictions to the website, which so far has received about 40 billion predictions.
The models get ranked, with the top 100 earning bitcoin. Numerai caps its payouts in a U.S. dollar-denominated amount, currently $15,000 a month with the top user able to earn $54,000 a year, but the company uses bitcoin as the payment mechanism to preserve anonymity and to solve the logistical nightmare of making payments to foreign countries. It’s so far paid out $200,000.
Here is how the site look like