Numerai
Numerai is a blockchain-based platform that crowdsources machine learning models to predict the stock market. Data scientists build models using anonymized data from Numerai's hedge fund and compete to have their models used.
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Numerai: Blockchain-Powered Stock Market Prediction Platform
A decentralized platform where data scientists build and compete machine learning models to predict stock market trends, leveraging anonymized data from a hedge fund.
What is Numerai?
Numerai is a blockchain-based platform that crowdsources machine learning models from data scientists around the world to make stock market predictions. The company has its own hedge fund that uses the predictions from the top-performing models submitted by data scientists.
Here's how it works:
- Numerai provides anonymized, encrypted data from their hedge fund to data scientists.
- Data scientists build machine learning models to make predictions on this data.
- The models are submitted back to Numerai and tested for performance.
- The best performing models are used by Numerai's hedge fund for trading and stock market predictions.
- Data scientists whose models are used are rewarded in Numeraire (NMR), Numerai's custom cryptocurrency token.
By crowdsourcing models from thousands of data scientists around the world, Numerai is able to tap into the wisdom of the crowd to make more accurate predictions. The use of blockchain and NMR tokens also aligns incentives and ensures confidentiality of the hedge fund's proprietary data.
Numerai Features
Features
- Uses encrypted and anonymized data to build AI models that predict stock market
- Data scientists compete to build the best models and earn rewards in cryptocurrency
- Connects data scientists around the world to collectively build better predictive models
- Uses blockchain technology to coordinate data scientists and validate model performance
Pricing
- Free
Pros
Anonymized data protects proprietary financial data
Rewards data scientists for contributing models
Tap into collective intelligence of data science community
Lower barriers to entry for data scientists
Cons
Very niche focus on stock market prediction
Relies on accuracy of financial data provided
Cryptocurrency rewards may have limited real world value
Unproven long-term incentive model
Official Links
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