Neuromation (NTK) Looks to Generate Momentum on New Exchange Listings

Neuromation Platform, NTK, was officially listed on two top exchanges over the span of a week: BCEX exchange starting on May 3, 2018, and HitBTC this week. An ERC20 token, NTK will first be listed as an NTK/ETH pair, then as an NTK/BTC pair within two weeks of the initial listing.

Neuromation is a distributed synthetic data platform on the Ethereum blockchain designed for users to create data sets, generators and train deep learning models. A library of synthetic data will be built using the computing power of private and commercial mining service providers. Large volumes of data with perfect accurate markings will be synthesized through Neuromation without any inaccuracies arising from human factors. Costly and slow crowdsourcing will be replaced with a faster, more accurate and efficient tool for creating and marking data.

Neuromation will work with commercial and private service providers (paid with NeuroTokens, also known as NTK) to receive resources for creating artificial data sets, implementation of distributed computing services and developing machine learning models. Neuromation will work with partners in certain industries to bring their vision to life organically by developing Neuromation Labs, which will require the development of synthetic data and training deep learning models on live applications. Each lab will be a study on a specific problem in a partnership with each category (retail automation, industrial automation, pharma/medicine/biotech automation, etc). This will allow Neuromation to test parts of their vision in real-life scenarios, thus seeding the Neuromation platform with initial data sets and data generators.

NeuroTokens  are utility tokens used in all transactions on the Neuromation Platform. NTK is distributed as rewards for data set providers and miners providing computing capacity. The circulating supply of NTK is 60 million with a total supply of 100 million NTK. At the time of writing, the price of NTK is $0.55 USD with a market cap of $59,250,500 USD. Current exchanges available to buy/sell NTK are Tidex, IDEX, YoBit and Cobinhood. According to the company’s Telegram channel, Neuromation is in negotiations with multiple large exchanges to list the NTK. Listings are expected to come shortly.

Looking at the NTK chart you can see, just as other tokens, the value has gone down over the past couple of months but has recently risen back to the initial exchange launch price at around $0.55. We are currently in the middle of a short bull run as billions have re-entered the market over the last week.

When looking at charts and doing technical analysis, it is important to keep volume in mind as that can give you an indication of what direction a token is headed. You can see that since the beginning of April the daily volume has continued to rise. When you see volume rising and the token maintains or continues to increase in value then this will tell you that buyers are holding more than selling.

A Promising Team

Bringing expertise and experience in successful startups, software engineering, AI and machine learning, the Neuromation team and advisers are well qualified to bring this project to fruition successfully.

Maxim Prasolov is the VP Token Economy of Neuromation. He is a serial entrepreneur, who invested in technology companies before finding Neuromation two years ago. Prasolov has led the IPO team of Ferrexpo on the London Stock Exchange, the biggest iron ore producer in Ukraine.

His passion is multimedia production. More than 50 animated commercials, 3D-movies, commercial and industrial applications, computer games were produced by his teams, and it is his passion for animation that inspired Neuromation’s scientific team to develop expertise in algorithms training with synthetic (i.e., 3D) data, a process similar to one of children learning through watching animated movies.

Neuromation’s scientific team of ten researchers, led by Ph.D. Sergei Nikolenko, demonstrates strong expertise in the field of machine learning and analysis of algorithms (algorithms for networking, online algorithms, bioinformatics). Weekly research updates can be found here.

A technical team of 20+ developers was recently reinforced by new hire CTO Artem Astafurov. Before joining Neuromation Artyom was a VP of Engineering at Opentrons, an open source robotics company focusing on liquid handling for lab bench automation.

Yuri Kundin is Chief Operations Officer specializes in developing framework and methodology for risk, implementation, and compliance with blockchain platforms, cryptocurrency, and ICO ecosystems to help new emerging technology clients with innovative implementation strategies. He was a former Director with KPMG U.S., the fastest growing Big Four accounting firm.

Neuromation currently has an alpha (MVP platform) available for testing with Neuromation platform version 2 scheduled for launch sometime in Q2. It is expected to boast 10,000-GPU capacity. By Q3 2018, Neuromation platform version 3 will launch with 100,000-GPU capacity deployed with NeuroToken migrating to its own blockchain. Neuromation has already partnered with several companies including OSA Hybrid Platform, TaaS, Hacken, and ECR Community. After a successful ICO raised $50 million USD in January 2018, the company could be poised for excellent ROI in 2018 and beyond.

Featured image courtesy of Shutterstock.

Author:
Kent - Co-Founder of Burial insurance and Final Expense Life Insurance, where we help you find the best life insurance.