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Cindicator Coin (CND) Cryptocurrency: Review & Guide
Our Cindicator (CND) coin guide will tell you everything you need to know. We’ll explain what the CND coin is, what it does and why you might consider investing in it. TotalCrypto urges caution before making any cryptocurrency investments and we encourage you to do your own research.
Contents
What Is Cindicator?
The Cindicator project marries together machine artificial intelligence (AI) with human intelligence, creating a hybrid system to forecast financial markets. The team call this ‘hybrid intelligence’. The idea is that by blending together artificial intelligence and human forecasting, the Cindicator system can make superior predictions compared to other processes.
The Cindicator platform already has over 100,000 active analysts and the wisdom of this crowd is harnessed to help make financial market predictions. The wisdom of the crowd has been shown to be exceptionally powerful in making predictions. The theory was first proposed in 1906 when the scientist Francis Galton went to a fair, where customers were asked to guess the weight of a bull. Around 800 people made guesses for the bulls weight, Galton analysed all the results and found that the average guess was 1197 pounds. The actual weight of the bull was 1198 pounds. Ever since, the wisdom of the crowd has been used to make predictions and has been cited in many official publications. Cindicator leverages this principle by asking thier analysts questions on financial and cryptocurrency markets and using these answers to help make predictions.
Artificial intelligence is used in the Cindicator system to evaluate and weight analyst responses. Analysts who have been more accurate in the past are given a higher weighting than those who are less accurate. The profitability of analyst’s past predictions is also accounted for and AI is used to run simulations of trading strategies to determine profitability and optimal trading strategy. Finally, artificial intelligence aggregates all the data and AI analysis into a final market analysis. This can then be used by the Cindicator community through the use of financial tools available on the platform.
Why Is Cindicator Useful?
Humans are obsessed with predicting the future and devising ever more accurate methods to achieve this. In traditional financial markets, millions of dollars are traded every second and trading robots are also highly used. Predictions for these markets are made daily and billions of dollars are invested every day on these forecasts. Financial forecasting is built on the back of analytical reports and in 2015 alone, professional financial traders spent over $50 billion on financial data and $4 billion on analytical systems. Estimates project that there will be a six fold increase in this spending by 2020, with around $300 billion spent on data and $24 billion on systems.
Cindicator is a predictive solution that not only acts as a system, but generates a vast amount of data. Professional traders are willing to pay extraordinary sums of money for this. The market Cindicator is going after is literally worth $100’s of billions a year and that’s just the finance industry. The project can be applied equally well to determine outcomes of sporting fixtures, political elections and, of course, cryptocurrency predictions.
How Does The Cindicator System Work?
Cindicator has three different elements, the pool of analysts, AI and the actual prediction product.
1) The Pool Of Analysts
There are over 100,000 analysts on the Cindicator platform. Some of these analysts are professionals, others are not. Cindicator gives these analysts the opportunity to monetise their knowledge and predictive powers. In return the platform gains valuable data from the analysts.
How does Cindicator get data from the crowd? Well it asks analysts a series of questions everyday. These are based on the person’s interests and field of expertise. There is a focus on two main types of questions:
Binary probabilistic questions. This means asking a question that only has two possible answers – yes or no. Analysts respond to these questions by giving a probability percentage to express the likelihood of the event occurring. 0% > 49% is taken as a no, 51% to 100% is a yes. Percentages are used so that analysts can give their degree of confidence in the prediction. An example of this type of question would be:
“Will NEO be in the top 5 cryptocurrencies next week?”
Price related questions. These are just questions on what the analyst thinks about the price of an asset. This data is exceptionally useful for traders. In Cindicator, price related questions usually include a minimum and maximum price for an asset. An example for this type of question would be:
“Bitcoin closed at $9,000 on the 10th March 2018. In your opinion, what will be the maximum and the minimum price of Bitcoin on 11th March 2017?
Cindicator Analyst Incentives
Analysts are given both personal and group motivation on the Cindicator platform.
Personal Motivation: Each analyst is given a public personal rating on the platform. This is based on the accuracy of their forecasts. This public rating creates competition between analysts. Contributors are also financially motivated. At the end of each month the scores are fixed and a cash prize is distributed based on the number of points an analyst gets. This prize money comes from the reserve fund for forecasters remuneration. At the beginning of the month, ratings are reset and a new competition starts.
Group Motivation: Cindicator manage their own portfolio based on hybrid intelligence. As the forecasters are important to their management, a share of the profits is distributed to the analysts every quarter. Forecasters with higher scores in the reporting period gain a bigger share of this bonus money. After all, they have contributed more to its success than those who gave bad predictions.
2) Artificial Intelligence
Machine learning is used to to analyse market and Cindicator analyst data. How is artificial intelligence used by Cindicator? There are 5 main ways:
- Forecasters are studied. Behavioural patterns and common factors are identified. For example:
- Analysts are clustered into bears or bulls, those with wide price predictions and those with narrow ones, analysts that follow trends and those that don’t etc.
- AI also studies behavioural patterns. For example, how often to analysts make mistakes, how forecasters react to changing market conditions and in which situations they make mistakes.
- AI experiments with predictive models and uses them to build algorithms.
- Conducting experiments on groups and data clusters.
- Machine learning is optimised and validated.
- Analysis of forecasters predictions and the market.
3) The Product
After Cindicator has processed all the data through their machine learning system, Cindicator coin holders can then access the platforms products and use these to make trading decisions.
Product access depends on the number of CND coins you hold. There are currently four different package levels and at the time of writing the cheapest one will set you back $450.
Products include indicators such as: community choice, market event probability, week support and resistance levels, ICO ranking and price level indicators.
The Cindicator Team
The Cindicator project already has a working product and has positioned themselves in the lucrative financial data and systems niche. This highly ambitious project has done a lot right. However, investors need to see an excellent team in place to drive product development forward. TotalCrypto love the experience the Cindicator team. It is a relatively large 28 person team, which is well balanced with members specialising in data science, development, trading & analysis and community & support. Because of space limitations we’ll just focus on the projects co-founders.
CEO & Co-founder – Mike Brusov: Mike has 8 years as a tech entrepreneur under his belt. During this time he has focused on predictive analytics and big data, before going on to co-found Cindicator.
CTO & Co-founder – Yuri Lobyntsev: Yuri started on the path to becoming a top notch CTO early and began coding then he was just 10. Yuri is not just a distributed applications developer, he is an outside of the box thinker, inventor and entrepreneur. Mr Lobyntsev is passionate about blending human and AI intelligence together and followed this passion when he co-founded the Cindicator project.
COO & Co-founder – Artem Baranov: Artem has co-founded numerous companies in the financial analytics, development outsourcing and medicine sectors. His role at Cindicator is to bring together all the different elements of the team, into a single driving force and push the company forward.
The Future Of Cindicator
Unlike most other cryptocurrency projects, Cindicator already has a working product, a network of over 100,000 analysts and has customers. The size of the financial data and systems market is massive and is predicted to be worth in excess of $300 billion per year by 2020. The project is competing for a slice of this massive market and if they can succeed in even gaining a small percentage of it, the company will be very successful indeed.
Currently Cindicator are just focusing on the financial and cryptocurrency markets. However, their tech can be used in other niches as well such as political and sports forecasting. The beauty of a project like Cindicator is that humans are always going to try and predict the future and forecasting methods are always going to be in demand.
The project still needs to continue growing their community, develop new products and keep improving their forecasting accuracy. Cindicator could be one of the best prediction tools in the world or fall by the wayside and be outdone by better prediction methods. What is for sure, is that if the project can continue to grow and keep acquiring new customers, that the price of the Cindicator coin will rise in value. There is a limited supply of the coins and they are required to get access to Cindicator predictions.
2018 is set to be an exciting year for the project and you can read more about this years roadmap here.
The Cindicator ICO
The ICO took place on the 24th September 2017 and quickly achieved its funding goal of $15 million.
Cindicator revealed how the raised ICO funds would be spent and gave us this breakdown:
- Research & development, operational costs and new product creation – 55% of budget.
- Hybrid intelligence portfolio which serves as a motivational pool for forecasters – 20% of budget.
- Marketing – 10% of budget.
- Legal costs – 5% of budget.
- Monthly forecaster compensation fund – 5% of budget.
- Partnerships & Acquisitions – 5% of budget.
Should I Invest In CND Coin?
Pros
- They already have a working product, an ecosystem of over 100,000 analysts and have customers.
- The financial data and systems industry that Cindicator is competing in is worth $100’s of billions of dollars per year. Even winning a small slice of this industry will make CND coin very valuable indeed.
- There is always going to be demand for tools that predict the future.
- Using the wisdom of the crowd and enhancing this with AI seems logical. Elon Musk himself said that “humans must merge with machines or become irrelevant in the AI age”.
Cons:
- Traders and investors are prepared to pay huge money for the best predictive systems. Cindicator still needs to establish a reputation for being one of the best out there and keep improving their product.
- Predictive systems are susceptible to technological disruption. More accurate prediction methods could be devised tomorrow and this would significantly devalue Cindicator as a business. For the project to thrive, it must stay one step ahead of the competition at all times.
Image via Coinmarketcap.com
How Can I Buy Cindicator (CND) Coin?
The two best ways of buying Cindicator coin are by using Coinbase and Binance. Click here for our guide on how to buy CND coin.
Conclusion
The project has largely gone under the radar of the cryptocurrency community. It’s a pretty unique project, operating in a very lucrative niche and actually has a working product. The fact Cindicator already has paying customers, sets it apart from many cryptocurrency projects.
The Cindicator coin has a very simple to understand and legitimate use case. TotalCrypto likes how the price of the CND coin will increase as the project gets more customers using its forecasting software.
2018 is set to be a big year for the project and TotalCrypto is sure that as the financial data and systems niche will evolve over time, we expect Cindicator to mature with it. TotalCrypto loves seeing innovative projects in the cryptocurrency space and we believe Cindicator is one of them.
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Resources
Below we’ve listed some key resources relevant to Cindicator (CND).
? Safest CND Wallets
Hardware wallets are the safest crypto storage solutions available. These wallets store your private keys and do not expose them to the outside world, making your crypto as safe as possible. Maybe you should treat your crypto like the million dollars it could well be worth one day?
Can’t decide if Trezor or Ledger is best for you? Just check out our Ledger Vs Trezor comparison guide.
? Best Free Wallets
As CND is a ERC-20 token, you can use any wallet that is compatible with Ethereum.
- MyEtherWallet – Struggling? We cover everything in our MEW step by step walkthrough.
? Best Apps To Track Your CND Investment
Useful Links
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About The Author
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Do you think that Cindicator may be the future of financial market forecasting? If you need some more information on the project just check out the official Cindicator white paper.
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