ICOs, nowadays, play an essential role in the crypto economy which is booming constantly. The ICOs keep coming up with great solutions for various issues and bring up creative, blockchain based, innovative tools that manage to improve tech-savvy people’s lives. Today we will be concentrating on Cindicator and try to examine it from inside out.
What Is Cindicator?
Cindicator (CND) is a company that is focused on asset management through hybrid intelligence (a combination of human and artificial intelligence so as to handle complex tasks). In specific terms, Cindicator creates unique artificial intelligence algorithms and trading that are complex in nature, yet highly efficient. These algorithms and trading bots created for institutional investors and hedge funds.
It makes use of crowd wisdom and algorithms that are based on artificial intelligence to make cryptocurrency predictions and predictions on other assets that are highly accurate. By integrating a big number of financial analysis algorithms and machine learning frameworks together into a single system, Cindicator aims to set high standards in the world of market predictions.
Cindicator came into being in the year 2015 while its ICO was released in 2017. In the August of 2017, it raised approximately $500,000 as seed funding.
While making highly accurate market predictions is one of the key traits of this platform, it is not the only thing that it is designed for exclusively. The early testing of Cindicator has shown quite a good level of returns on oil futures trading, USD/RUB exchange along with various different physical assets.
Some other features along with the benefits of Cindicator are listed below:
- Provides an analytical and technological framework for safe and effective capital management.
- Allows monetizing of intellectual assets without involving the risk of an analyst’s own funds.
- Provides the tools and information that is necessary to make secure investment decisions while keeping the uncertainty factors of the in view.
- Gives industry analytics and analytics of the opportunities, market growth, and expectations.
- Gives a rating and index for cryptocurrency assets.
The first IOS version of the platform got released in December 2015 after which the CND team worked on its first set of machine learning frameworks so as to improve the overall intelligence system while also working of the development of different trading strategies. While the company was formed in 2015, the Cindicator ICO was released in 2017. In the first month of 2017, CND launched an API for trading signals. The success of Cindicator ICO is certainly very appreciable as the company was given a grant of $120,000 by Microsoft and raised $200,000 from fintech investors in between April – 2017 and May-2017. Furthermore, the CrunchBase entry of Cindicator also highlights $500,000 raised as a seed investment.
Cindicator – is it just another prediction token?
Also referred to as predictive and decision markets. Prediction markets are those that trade the possible outcomes of different events.
Well, even though market prediction is one of the most notable features of Cindicator, it is capable of a lot more as mentioned earlier in this article. Hence, Cindicator cryptocurrency is not just another prediction token rather, it is a whole package of various tools apart from being a market prediction platform of course.
As far as prediction markets are concerned, they have largely been illegal in the United States back in time. Nevertheless, block-chain technology has recently evolved at an exponential rate which has resulted in the birth of a number of Ethereum based market prediction platforms. These new-age market prediction platforms make use of the digital currency to maintain a decentralized money prediction market.
A bit about Augur and Stox:
- Augur is yet another market prediction platform which uses a decentralized network to make forecasts. Unlike Cindicator however, Augur does not come with a lot of other features since it is focused on market predictions.
- Stox, just like Augur offers an Ethereum based market prediction tool. Similar to Augur, Stox is rather limited to the features that it provides.
- As compared to the aforementioned two, Cindicator not only focuses on providing accurate market predictions for real-money trading profits but also offers a range of different features as referred to above.
Cindicator provides the relevant information, data, and tools to businesses which allows them to make more profitable trading decisions while keeping market uncertainty in the view.
Currently, the CND platform consists of the following:
- It consists of a business logic module with an administrative framework, mobile applications, and a web application.
- A framework for predictions which includes data filtering and acquisition, hypotheses formation, mathematical frameworks, optimization of predictive parameters, and formation of accurate predictions.
- A training framework which includes input coming from the predictive framework, testing for trading strategies parameters, and the implementation of these trading strategies by using trading robots.
Cindicator took part in a public experience in January 2017. Along with Moxcow Exchange (MOEX). In this public experiment, Cindicator made some trading decisions while wholly relying on collective intelligence and artificial intelligence. The collective intelligence data came from a mixture of people among which 40% had no experience with investment while the rest of the 60% did have different levels of an investment experience. As based on the predictions, 36 out of the 57 trades that Cindicator made.
Similarities between Cindicator and Augur?
- Both Cindicator and Augur are not minable as they do not use a proof of work protocol.
- Both of them have their own associated tokens.
- Both Cindicator and Augur provide market prediction tools.
Cindicator price and growth
There is no doubt that 2017 has been the golden year in the world of cryptocurrencies. While most of the cryptocurrencies had a boom in 2017, Cindicator was pretty much rising at an appreciable rate even in 2016 having a market cap of $15Million.
Where on the same hand, the first month of 2018 has not gone very well for many cryptocurrencies, Cindicator remains quite unaffected by this crisis.
Near the end of 2017, Cindicator cryptocurrency had already managed to reach a cap of $600 million with a steady rate of progress through January 2018, while many other crypto coins are in a shock.
The maximum hard funding cap of Cindicator token is $15 million. Currently, the Cindicator price is set at $0.286.
According to its distribution strategy, nearly 75% of all the Cindicator tokens are set to be distributed through sale while 20% of them are set for Cindicator’s development. Where 1% of all the tokens is set for their bounty program, 3% percent of them all is set for the partners and advisors.
Well theoretically, Cindicator mining is not possible as the Cindicator coin is not based upon the proof of work algorithm.
Following the proof of work algorithm, the transactions are present in the form of a bundle inside a block. Miners use their computational power to verify whether transactions in a particular block is legitimate or not, by solving a complex computational challenge. Every first miner who solves a block gets a reward. The transactions that are verified get stored in a public blockchain.
The Cindicator token is ERC20 compliant. This means that while mining Cindicator, it can be bought by exchange with Bitcoins or Ethereum coins.
Cryptocurrency wallets are used to store, send, and receive the crypto funds. While the Cindicator cryptocurrency does not have its own official wallet due to being an ERC20 token, for the management of tokens, you can use an ERC20 token compatible wallets as shown below.
Among these, the most popular ones are listed below:
Metamask is an Ethereum based browser which carries a very easy to use interface. It does not require a login, it is quite safe as the private key gets stored in chrome instead on a private server.
Pro: Has an easy to use interface.
Cons: No option for multi-signature; Not the safest option.
Pros: Contains a high degree of anonymity; Has an easy to use interface.
Cons: Does not contain two-factor authentication; No multi-signature option; Not safe; Its reputation is not very well known.
The MIST wallet is a well-recommended wallet for the storage of Ethereum coins, but as the Cindicator Token is class compliant, they are fully supported by it.
Pros: It has an open source; It has a good reputation; It is available on Linux.
Cons: Slightly difficult to operate; The right version needs to be installed for operation.
How to buy cindicator coin?
Since it is not possible to mine CND tokens for the very reason that it does not use a proof of work protocol, one needs to know of an alternate way of obtaining the Cindicator token. The most common and easiest way to buy Cindicator is to exchange it for either Bitcoins or Ethereum coins. Do keep in mind that Cindicator coin cannot be bought via fiat currencies.
Bitcoins or Ethereum coins can be obtained through CEX.IO through a bank transfer or a credit card transfer. Once done, these coins can be exchanged for Cindicator coin on an exchange such as Binance or HitBTC. After once done, you can exchange your Bitcoin or Etherum coins on an exchange such as Binance. Find more about Bitcoin Exchanges.
A little about Binance and HitBTC:
Binance >> Binance is one of the most commonly used exchanges for crypto exchange. As it is quite popular, there are dozens of tutorials available for it on the internet. All in all, it offers a simple interface and does not charge a currency deposit fee. Trading fee for currencies, however, is 0.1%.
HITBTC >> HitBTC is another popular crypto exchange with no fee for currency deposit, and a 0.1% trading fee for immediate execution. Some users, however, report glitches on this platform, due to which the reputation remains slightly questionable. Nevertheless, it is still one of the biggest exchanges out there.
How to get Cindicator token through Binance?
- Trading Cindicator token for Bitcoins is pretty simple. To begin, make sure that your Bitcoins are successfully deposited in your Binance account.
- Once deposited, read the menu of the top right corner of your screen and click exchange > basic to toggle the basic trading screen.
- On the right end of the screen, choose a tab for whichever currency you are trading in.
- After that, choose a currency of your choice from the list.
- Once your desired currency is done loading, note the column on the left end of the screen. This column refers to the selling prices, where the red end refers to the buying prices and the number in the center refers to the last sale price.
- Below the graphs, a buy box will be visible. Click on this box to place your order.
- After a successful order placement, your order will remain pending and will be visible under the open order section until it is fully filled. Once filled, your currency will be available to you and you can check it in the deposits/withdrawal menu.
- Once ready, you can withdraw your new currency to the wallet of your choice.
Cindicator is a platform that combines collective intelligence, and artificial intelligence by making use of machine learning protocols. By using these two powerful sources of information, it makes accurate market predictions and provides data for profitable decision making.
Considering the recent trend of linear progress, there is no doubt that Cindicator could have a bright future in the years to come. Perhaps it could even become one of the biggest giants in the world of market prediction platforms.
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