Numeraire, the crypto
Numeraire (NMR) is a cryptocurrency that serves as the governance token for the Numerai platform. The Numerai platform is a decentralized hedge fund that uses machine learning to make trades in the stock market.
The main point of Numeraire (NMR) is to incentivize data scientists to contribute their machine learning algorithms to the Numerai platform. Data scientists who contribute successful algorithms are rewarded with NMR tokens, which they can use to participate in the governance of the platform and receive a share of the profits generated by the hedge fund.
Numeraire (NMR) tries to solve the problem of incentivizing data scientists to contribute their work to the Numerai platform. By offering NMR tokens as a reward for successful algorithms, data scientists are incentivized to contribute their best work to the platform, which in turn improves the quality of the machine learning models used by the hedge fund.
We used an AI to answer three questions about NMR, so take this info with a grain of salt.