Numbers Protocol

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Discover Numbers Protocol's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Numbers Protocol?

Numbers Protocol (NUM) is a decentralized network utilizing Web3 and blockchain technology to ensure the provenance of digital media files. It aims to create a transparent and trustworthy environment by allowing digital media to represent their own records independently. The native protocol token, $NUM, incentivizes users to create, archive, and verify content with good integrity and can be used for various purposes within the ecosystem.

How is Numbers Protocol used?

The crypto Numbers Protocol (NUM) is primarily a utility token designed to incentivize users to create, archive, and verify content with good integrity within the Numbers Protocol ecosystem. Here are the main ways NUM is used:

  1. Incentivizing Users: NUM tokens are used to reward users for creating, archiving, and verifying content with good integrity. This encourages users to participate in the ecosystem and maintain the integrity of digital media.

  2. Payment for Services: NUM tokens can be used to pay for services running within the decentralized photo network. This includes transactions related to content creation, storage, and verification.

  3. Staking and Liquidity: Users can earn rewards by providing liquidity to the network through staking. This helps maintain the health and stability of the network.

  1. NFT Marketplace: NUM tokens are used in the NFT marketplace, CaptureClub, where users can buy, sell, and trade NFTs with verified provenance.

  2. Digital Asset Management: NUM tokens facilitate the management of digital assets, ensuring their authenticity and provenance through the "Capture, Seal & Trace" process.

  3. Community Engagement: NUM tokens are used to incentivize community participation, such as through airdrops and other community-driven initiatives.

Overall, the NUM token plays a central role in maintaining the integrity and authenticity of digital media within the Numbers Protocol ecosystem.

How do I store Numbers Protocol?

To store Numbers Protocol (NUM) tokens, you have several options based on your needs and preferences:

  1. KuCoin Account:

    • Hold your NUM tokens in your KuCoin account for quick access to trading products like spot and futures trading, staking, and lending. KuCoin serves as the custodian of your crypto assets, ensuring security and convenience.
  2. Non-Custodial Wallets:

    • For enhanced security, you can withdraw your NUM tokens to a non-custodial wallet, granting you complete control over your private keys. This includes hardware wallets, Web3 wallets, or paper wallets. Ensure you store your private keys securely to avoid losing your tokens.
  3. MetaMask:

  • Add NUM tokens to MetaMask by importing them on specific networks. For example, you can add NUM(ERC-20) by enabling 'Autodetect tokens' and importing tokens on the Ethereum Mainnet.
  1. Trust Wallet:
    • Install Trust Wallet and add NUM tokens by managing crypto assets on specific networks. For instance, you can add NUM(Mainnet) by setting up the Numbers Mainnet network details, and NUM(ERC-20) by adding the Ethereum network and token address.

Choose the method that best suits your needs, considering factors like security, convenience, and trading frequency.

How to buy Numbers Protocol?

To buy Numbers Protocol (NUM) tokens, you can follow these steps:

  1. Create an Account on a Centralized Exchange:

    • Go to a reliable centralized exchange like Gate.io, Binance, or Kriptomat.
    • Complete the registration process, including KYC (Know Your Customer) and security verification.
  2. Deposit Funds:

    • Add funds to your exchange account using methods like bank deposits or credit cards.
  3. Buy NUM Tokens:

  • Navigate to the exchange's trading platform.
  • Search for Numbers Protocol (NUM) and select it.
  • Enter the amount you want to purchase and confirm the transaction.
  1. Store Your Tokens:
    • You can store your NUM tokens in the exchange's wallet or transfer them to a personal wallet like MetaMask, CoinBase Wallet, or Trust Wallet.

Remember to check the liquidity and trading volume of NUM on different exchanges to ensure a seamless trading experience.

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History of Numbers Protocol

Numbers Protocol, a Taiwan-based company, was founded in 2019 with the goal of addressing critical issues in the digital media space, including misinformation, copyright, and royalty distribution. The company aims to ensure the authenticity and traceability of online media using blockchain technology, fostering a more transparent and trustworthy digital world for creators, businesses, and consumers.

The project has a diverse team with members based globally, including in London, LA, Dubai, and Asia, allowing it to cater to diverse market needs effectively. Numbers Protocol emphasizes sustainable practices by using low-emission blockchains, minimizing its carbon footprint, and setting an example for responsible tech innovation. It is ISO27001 (Information Security Standard) certified and an early member of C2PA (Coalition for Content Provenance and Authenticity), prioritizing trust and safeguarding digital assets with the highest standards.

Numbers Protocol has proven its robustness and reliability by working in challenging environments like war zones and during elections, helping to protect and record crucial global events. As a decentralized network, it emphasizes a community-driven approach, actively engaging in discussions and initiating Ethereum asset standards like EIP7053 and EIP7517 to ensure transparency, integrity, and best practices in digital asset management.

The project has a native token called NUM, which is primarily a utility token designed to incentivize users to create, archive, and verify content with integrity. Participants, such as verifiers and other network operators, can get rewards by providing services to increase the credibility and legitimacy of registered photos. NUM tokens can also be used to pay for services running in the decentralized photo network.

Numbers Protocol has a comprehensive roadmap, which includes milestones such as the Token Generation Event (TGE) and listing in Q4 2021, launching a deflationary strategy in Q1 2022, and integrating with AI platforms in Q3 2023. The project aims to lead the provenance infrastructure in AI and the creator economy by 2024.

Overall, Numbers Protocol is building a decentralized photo network that leverages blockchain technology to ensure the authenticity and traceability of digital media, fostering a more trustworthy digital world.

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How Numbers Protocol works

Numbers Protocol (NUM) is a decentralized network that leverages blockchain technology to ensure the provenance and authenticity of digital media files. The platform aims to create a transparent and trustworthy environment by allowing digital media to represent their own records independently of external factors. Here's how it works:

Capture, Seal, Trace Process

Numbers Protocol uses a capture, seal, trace approach to provide authenticity certifications and traceable records for data and content at the beginning of the content lifecycle. This process enables users to claim and retain ownership of their data.

Native Applications

The platform has two native applications:

  1. NFT Search Engine: This application allows users to upload NFT images or videos and view their history, including when they were first sold and how many minted tokens there are. This helps users verify the authenticity of NFTs sold in marketplaces and check if the NFTs they own are truly unique.

  2. CaptureClub: This is the first NFT marketplace to feature end-to-end authenticity preservation. Users can take photos from the Capture App and list them to the CaptureClub marketplace with a simple click. CaptureClub helps users verify the NFT content history and respects creators' copyrights by generating immutable records on the blockchain using Numbers Protocol.

$NUM Token

The $NUM token is the native protocol token of Numbers Protocol. It is primarily a utility token designed to incentivize users to create, archive, and verify content with good integrity. The token can be used to pay for services running in the decentralized photo network and can also be bridged to BEP20. It has a total supply of 1 billion and is allocated to various areas with unique vesting schedules.

Tokenomics and Roadmap

The tokenomics of $NUM include a community/public sale, integrity rewards, and token allocation to teams and advisors. The roadmap includes the listing of $NUM on exchanges, where its price will be driven by market demand and inflation caused by the release of reward tokens.

Use Cases

$NUM token has various incentives and utilities within the Numbers Protocol ecosystem. It can be used to reward users, earned through staking, and used across several network apps. Additionally, it can be used as gas fees, service payments, and payments to purchase Capture NFTs.

Partnerships and Listings

Numbers Protocol has partnered with several organizations, such as NFTIV, to empower Web3 innovation and digital provenance. The $NUM token is listed on the Crypto.com App, allowing users to purchase it with fiat currencies and spend it at merchants globally using the Crypto.com Visa Card.

Overall, Numbers Protocol aims to create an ecosystem where digital media assets are both traceable and verifiable, increasing their credibility and legitimacy. The $NUM token plays a central role in incentivizing users to contribute to this ecosystem.

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Numbers Protocol's strengths

The token Numbers Protocol (NUM) has several strengths:

  1. Utility Token: NUM is a utility token designed to incentivize users to create, archive, and verify content with good integrity within the Numbers Protocol ecosystem. This utility provides a clear purpose for the token and encourages users to engage with the platform.

  2. Decentralized Photo Network: Numbers Protocol is built on Web3.0 storage and ledger technologies, ensuring that every photo registered on the network has its own unique identity and associated integrity records. This decentralized approach enhances trust and provenance in digital content.

  3. Content Verification: The platform provides efficient and low-cost digital provenance infrastructures, which not only enhance trust in digital content but also provide a pathway for innovative content monetization strategies. This verification process helps address critical issues in the digital media space, such as misinformation, copyright, and royalty distribution.

  1. Strong Community: Despite its current market standing, Numbers Protocol has a fairly strong community, which is crucial for the long-term success of any cryptocurrency project.

  2. Tokenomics: NUM has a well-defined tokenomics structure, with a total supply of 1 billion tokens and a clear allocation plan. This includes integrity rewards, public sales, and vesting schedules, ensuring a transparent and structured distribution of tokens.

These strengths demonstrate the potential of Numbers Protocol to create a reliable and trustworthy ecosystem for digital media, making NUM a promising investment opportunity.

Numbers Protocol's risks

Numbers Protocol (NUM) is a cryptocurrency project that faces several financial risks. These risks include:

  1. Volatility Risk: The price of NUM can fluctuate significantly due to market conditions, making it difficult to predict and potentially leading to significant losses for investors.

  2. Liquidity Risk: The market for NUM may not be liquid enough, making it difficult for investors to buy or sell the token quickly and at a fair price.

  3. Short History Risk: NUM has a relatively short history, which can make it challenging to assess its long-term performance and stability.

  1. Demand Risk: The success of NUM depends on its adoption by users and content creators. If demand is low, the token's value may decline.

  2. Forking Risk: The possibility of a fork in the blockchain can lead to uncertainty and potential losses for investors.

  3. Code Defects: Any defects or bugs in the code can compromise the security and integrity of the network, affecting the value of NUM.

  1. Regulatory Risk: Changes in regulatory environments can negatively impact the use and value of NUM.

  2. Electronic Trading Risk: Technical issues or failures in electronic trading systems can disrupt the market and cause losses.

  3. Cyber Security Risk: The network is vulnerable to cyber attacks, which can compromise user data and the integrity of the system, leading to potential losses.

These risks highlight the importance of thorough research and careful consideration before investing in NUM.

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Did Numbers Protocol raise funds?

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Numbers Protocol’s team

  • Sofia Yan: Co-founder and Chief Growth Officer, with over eight years of experience in business development and marketing. She worked for an AI startup and an intellectual property valuation firm before joining Numbers.
  • Tammy Yang: Founder and Chief Product Officer, a data scientist and particle physics Ph.D. graduate from Manchester University. She has experience as a software engineer, tech lead, AI developer, CEO, and founder.
  • Bofu Chen: Founder and Chief Technology Officer, a software engineer and architect with over 15 years of experience in data engineering, embedded systems, AI, and IoT. He is an Arm innovator and a prominent open-source developer.
  • Ethan: Global Developer Community Manager, with a Master's in Computer Science from Georgia Tech University. He has experience growing communities and has a solid understanding of Numbers technology and products.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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