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  • Market Cap: $2.7556T 1.720%
  • Volume(24h): $68.6314B -13.250%
  • Fear & Greed Index:
  • Market Cap: $2.7556T 1.720%
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What is NMR coin? Learn what NMR coin is in one minute

NMR Coin, leveraging encrypted data and proof-of-stake consensus, rewards data scientists for submitting accurate predictive models, driving the Numerai platform's value and fostering decentralized AI innovation.

Oct 08, 2024 at 09:36 pm

What is NMR Coin?

  1. Definition: NMR Coin, also known as Numeraire, is a cryptocurrency that powers the Numerai platform.
  2. Purpose: NMR is used to incentivize data scientists to create predictive models using Numerai's encrypted real-world data.
  3. Staking: By staking NMR tokens, data scientists contribute their models and are rewarded based on their predictive accuracy.
  4. Consensus Mechanism: Numerai uses proof-of-stake (PoS) to validate transactions and secure the network.
  5. Value: The value of NMR is derived from the utility it provides within the Numerai platform.

Key Features of NMR Coin:

  1. Rewards for Model Creation: Data scientists are rewarded with NMR for submitting accurate predictive models.
  2. Decentralization: The Numerai network is decentralized, allowing data scientists to participate anonymously.
  3. Encrypted Data: NMR ensures the privacy of real-world data by encrypting it before allowing access to data scientists.
  4. Tokenomics: NMR has a maximum supply of 10,000,000 tokens.

Use Cases of NMR Coin:

  1. Incentivizing Data Science: NMR provides a financial incentive for data scientists to develop and refine predictive models.
  2. Stakeholder Governance: NMR holders can participate in the governance of the Numerai platform through staking.
  3. Investment: NMR can be purchased and held as an investment, similar to other cryptocurrencies.

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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

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