Introduction

The widespread acceptance of digital assets like Bitcoin and Ethereum has led to a surge in cryptocurrency trading. Nevertheless, predicting the future performance of cryptocurrencies is complicated due to their highly volatile nature and susceptibility to numerous factors, such as global events, regulatory changes, and investor sentiment.

Machine learning (ML) applications can provide valuable insights into the crypto market and help traders predict price movements and volatility. GNY (pronounced “Genie”), a machine learning platform, is one such application that offers cryptocurrency price predictions and a range of other services and tools to traders.

This article examines what GNY is, how it operates, and the advantages it offers to cryptocurrency traders. It explores GNY’s functionalities, comprising its token and ecosystem features, and assesses GNY as a potential investment. It also offers a guide on how to own GNY. At the conclusion of this article, readers will possess a thorough comprehension of GNY and how it can improve their cryptocurrency trading.

What is GNY? Exploring the Impact of AI in Blockchain Technology

Source: GNY Protocol

GNY is a platform that uses machine learning and blockchain technology to provide cryptocurrency traders with price predictions as well as other products and services. What distinguishes GNY from other platforms is its capacity to securely store and process data on the blockchain while using machine learning to analyze vast amounts of information from different sources.

This ability allows GNY to offer valuable insights into the cryptocurrency market, which can assist traders in making more informed decisions regarding price movements and volatility. GNY is dedicated to creating useful predictive machine-learning tools for cryptocurrency traders, and its tokens gain value from the range of products and services offered.

Source: GNY Protocol

GNY prediction service is personalized and self-learning, designed for each customer. GNY also offers support for launching tokens, creating DApps, custom coding, and smart contract development. Its patented machine-learning technology is continuously adapting to human behavior, making it an essential tool for traders and developers.

The GNY blockchain uses a consensus algorithm called delegated Proof-of-Stake (DPoS), which involves 101 decentralized nodes responsible for securing the network and processing transactions. Individual delegates host and maintain these nodes. To ensure network security, GNY token holders can vote for 101 delegates to represent them. However, token holders must first lock their tokens to be eligible to vote for delegates.

History of GNY

GNY was established by Cosmas Wong, a seasoned tech entrepreneur, and investor, in 2015 with the objective of creating a powerful tool capable of processing vast amounts of digital data and generating predictive, adaptable, and responsive solutions for a variety of applications.

In 2018, GNY obtained approval from the Jersey Financial Services Commission and the expertise of Carey Olsen’s legal team to launch its ICO (Initial Coin Offering) and token. Since then, the company has pursued innovation by introducing new capabilities and forming partnerships to improve its platform.

GNY launched its Swapgate feature in 2021, which enables effortless token swapping throughout its network. These measures reflect GNY’s commitment to continuous development, enhancing user experience, and delivering accessible and valuable predictive analytics solutions.

How Does GNY Work?

GNY is an artificial intelligence (AI) platform that can teach itself how to solve problems using a special type of AI called deep learning. Deep learning is like the brain of a computer, where it can learn and remember things on its own. Just like how people learn from mistakes and experiences, GNY can learn from past predictions to improve accuracy in the future. Each block in the GNY network contains a “neuron,” which is like a brain cell that can store information. The entire blockchain is like a network of neurons that can work together to solve problems.

To help it learn, GNY has two main components: an Extract-Transform-Load (ETL) node and a Machine Learning (ML) node. The ETL node reads data from the blockchain and transforms it into a format the ML node can understand. The ML node then uses deep learning to analyze the data and make predictions.

GNY uses a formula called the mean absolute percentage error (MAPE) to determine how accurate its predictions are. This process can be compared to verifying answers on a test to ensure correctness. If GNY’s predictions are not accurate enough, it will learn from its error and improve its accuracy for subsequent predictions.

GNY Ecosystem

Source: GNY Protocol

GNY Ecosystem offers a wide range of features that make it easier for users to access and leverage machine learning capabilities. Some of the key features of the GNY Ecosystem include:

GNY Range Report

Source: GNY Protocol

The GNY Range Report uses proprietary machine learning to predict the daily high and low prices of Bitcoin and Ethereum for seven days with industry-leading accuracy. It analyzes over 70 datasets with millions of data points and refreshes daily on a 24-hour roll at 11:00 UTC. The report includes Hikkake, Parabolic SAR, and RSI trading indicators on an hourly and daily basis and a “GNY Opportunity Zone” to assist traders with entry and exit points. The subscription costs $20 per month, with the first two weeks free. It’s important to note that trading involves risk, and individuals should conduct their research before making investment decisions.

GNYi-Network Rewards

Source: GNY Protocol

GNYi-Network Rewards is a program on the GNY blockchain that rewards token holders for their activities on the network. Rewards are calculated using machine learning predictive technology, which considers factors such as token holdings, holding periods, and network activities.

GNYi does not require token farming or long token locks. Rewards are transparently and fairly distributed, and users can track their progress on the GNY dashboard. The program encourages participation in the GNY ecosystem and offers valuable cryptocurrency insights and predictions.

GNY Swapgate

Source: GNY Swapgate Chart

GNY Swapgate is a feature that enables GNY token holders to swap their tokens between GNY-ERC20, GNY-BEP20, and GNY Mainnet tokens. The goal is to provide flexibility and ease of use for GNY users. Swaps occur on a 1:1 basis and don’t inflate the overall supply. Users can convert GNY-ERC20 and GNY-BEP20 tokens to GNY Mainnet tokens to access utilities or swap Mainnet tokens to GNY-ERC20 or GNY-BEP20 tokens for trading on a wider range of exchanges. Overall, Swapgate makes the GNY network more accessible, flexible, and user-friendly.

GNY Dataplace

GNY Dataplace is a decentralized data marketplace that uses blockchain technology to create a secure and transparent platform for sharing and monetizing datasets. It also integrates machine learning functions and expertise to enable advanced data projects. Additionally, GNY Dataplace has a venture fund that allows users to invest in promising data projects and earn rewards.

Advantages of GNY

• Machine learning: GNY’s ML can predict cryptocurrency prices and other forecasts by analyzing large amounts of data from multiple sources.
• Scalable: GNY’s blockchain employs a delegated Proof-of-Stake consensus algorithm with 101 nodes securing the network, allowing for high transaction throughput.
• Personalized predictions: GNY’s predictions can be customized to suit individual users and their trading strategies.
• Blockchain-based: GNY’s platform is built on its native blockchain, providing security, transparency, and immutability.
• Low transaction costs: GNY’s blockchain is designed to have low transaction fees, making it a cost-effective solution for businesses and individuals.

Disadvantages of GNY

• Technical complexity: The technology behind GNY may be complex and difficult for some users to understand or use effectively.
• Cybersecurity risks: As with any technology that involves storing and transmitting sensitive data, GNY is potentially vulnerable to cyberattacks, which could compromise user data and harm the platform’s reputation.
• Limited use cases: As of now, GNY’s machine learning predictions are limited to Bitcoin and Ethereum trading, which may limit its usefulness to a broader range of investors.

What is GNY Token?

Source: GNY Protocol

The GNY Ecosystem is powered by its token, also called GNY. According to the GNY Ecosystem Map, the GNY token is classified into two types: Utility tokens and Trading Tokens. Utility Token, or GNY Mainnet Utility, is primarily used within the ecosystem for transactions such as delegate voting and utilizing the platform’s machine-learning predictive functionality. On the other hand, Trading Tokens, including GNY ERC-20 and GNY BEP-20, act as a medium of exchange on digital asset exchanges, with discounts and exclusive services.

GNY-ERC20 grants access to both centralized and decentralized crypto exchanges like Gate.io. Meanwhile, GNY-BEP20 enables low-fee trading on Pancakeswap. The GNY token can be bought as either ERC-20 or BEP-20 tokens and can be converted to the GNY Mainnet Utility Token and vice versa via GNY’s in-wallet Swapgate function. This token flexibility provides users with more options and convenience when trading or exchanging GNY tokens.

GNY Wallet

The GNY Wallet is a safe and easy-to-use digital wallet designed for managing cryptocurrency assets. Users can conveniently handle their digital assets using this wallet, which supports GNY Mainnet tokens and is available on desktop, Android, and iOS devices. While the GNY Mobile Wallet is ideal for on-the-go usage and offers basic functions such as token transfers, voting, and creating and launching assets, the GNY Desktop Wallet provides advanced features such as the in-wallet Swapgate and delegate registration functions.

The wallet is equipped with security features such as passphrase protection and advanced encryption technology to ensure that users’ assets are secure. Moreover, the GNY Wallet enables users to create and launch their custom tokens for various purposes.

Tokenomics of GNY

Source: GNY Protocol

GNY tokenomics is designed to provide a fair and sustainable ecosystem for the community. The native token, GNY, serves as a means of exchange. The total token supply is 400 million, with 200 million tokens locked by GNY. The remaining 200 million tokens are in circulation, and they can be bought, sold, or traded on various exchanges.

Token holders can bind their GNY tokens for benefits, including increased rewards or access to special features. The platform uses a dynamic fee structure that adjusts fees depending on demand to remain fair. Community governance allows token holders to vote on proposals and changes. GNY’s tokenomics focus on rewards, governance, and fees, which play a crucial role in the platform’s success.

News on GNY

ETH Now in GNY Range Report

On February 20, 2023, GNY announced that its AI-powered Range Report now includes 7-day forecasts and indicators for Ethereum, in addition to BTC. The Range Report brings together essential indicators, news, events, gas prices, and price tickers, reducing stress and informing traders with a powerful 7-day machine learning-driven forecast for Bitcoin and Ethereum.

GNY’s LML Suite Gets a Bitcoin Price Prediction Game

On March 6, 2023, GNY announced a new gamified tool, “Man Vs Machina,” for its suite of data tools, LML (Link Machine Learning). The game challenges players to predict the high and low prices of Bitcoin in a 24-hour window better than GNY’s ML engine. The tool lets players compete against each other and GNY’s neural network, represented by the “GNY Queen.” It’s the first in a series of games to be developed for LML and offers prizes and bragging rights to players.

Roadmap

Source: GNY Protocol - Roadmap

GNY aims to aid crypto traders by combining blockchain and machine learning in 2023. The roadmap entails milestones like expanding the GNY Range Report to cover the top 12 tokens and providing exchange insights, trading signals, and market indicators. The upgraded Android and iOS wallet app will enable token transfers, delegate voting, and issuing new tokens.

GNY will introduce Data NFTs to enhance AI transparency and secure data collaboration. LML Link Machine Learning Chain will serve as storage for GNY and other networks’ data NFTs. Lastly, the gamified data collection challenge, Man Vs. Machina pits users against GNY’s ML. These milestones show GNY’s leadership in creating ML insights for crypto traders and its commitment to developing blockchain and machine learning technology.

Is GNY a Good Investment?

GNY is an innovative AI platform that has the potential to be used in a wide range of industries. The platform’s self-learning capabilities and advanced ML algorithms are its unique selling points, and they could potentially provide a competitive edge to traders, businesses, and organizations that use it.

The demand for the GNY token could potentially increase, and its value could rise if the GNY platform gains widespread adoption and proves to be successful. However, as with any investment, it’s crucial to thoroughly research and analyze the potential risks and rewards before making any investment decisions.

How to Own GNY

To own GNY, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy GNY.

Take Action on GNY

Check out GNY price today and start trading your favorite currency pairs.