Numeraire

Numeraire is a cryptocurrency that is designed to be used as a stablecoin. It is pegged to the US dollar, and its value is maintained by a basket of assets. Numeraire is used to pay for fees on the Numerai platform, which is a platform for data scientists to compete to build models that predict financial markets.

Numeraire was created in 2017 by Numerai, Inc., a company founded by CEO Richard Craib. The company's goal is to use artificial intelligence to improve the performance of financial markets. Numerai believes that the best way to do this is to crowdsource the development of AI models by rewarding data scientists with Numeraire tokens for their contributions.

Numeraire is a unique cryptocurrency in that it is not mined. Instead, new Numeraire tokens are minted by the Numerai platform to reward data scientists for their contributions. This process is called "proof-of-stake," and it is designed to ensure that the Numeraire network is secure and decentralized.

Numeraire is a promising cryptocurrency with a number of potential applications. It is used as a stablecoin, which means that its value is relatively stable compared to other cryptocurrencies. This makes it a good option for investors who are looking for a safe way to store their value. Numeraire is also used to pay for fees on the Numerai platform, which is a platform for data scientists to compete to build models that predict financial markets.

Numeraire is a relatively new cryptocurrency, but it has already gained a lot of attention from the financial community. It is a unique cryptocurrency with a number of potential applications, and it is likely to continue to grow in popularity in the years to come.