Cryptoindex: The Digital Dow Jones
A new crypto project has launched a private token sale as it seeks to establish a new level of digital trading experience. Cryptoindex is positioning itself as a fast-paced trading arena, depicting astute cryptocurrency indices and industry statistics for users. Mooted as a “potential Dow Jones” of the industry, the company token is the CIX100 which has been available to purchase since July 2, 2018.
With an current market cap of hundreds of billions of dollars, many predict, optimistically or tentatively, that cryptocurrency will hit a whopping 10 trillion USD in the next few years.
Moreover, several celebrity commentators have put forward convincing arguments outlining why Bitcoin and others will become a new asset class and new store of wealth. Cryptoindex notes the advent of over 1,500 individual coins with the prediction that the number can only rise. The company itself trades on the same AI as similar fintech entities, rendering a crypto twist that elevates the offer to a “fully automated index calculation.”
Cryptoindex And The Zorax Algorithm
The company terms what it expects will become the industry benchmark, the Cryptoindex100 – a ranking platform that uses AI to generate results. Pointing to a unique algorithm called Zorax, the company’s AI assimilates a diverse range of data inputs from an equally diverse array of sources to create an index.
The end results are noteworthy, as each coin is presented live at current prices as the index constantly updates. With the expressed aim of reducing, “human influences to a minimum,” the project has attracted a degree of negative commentary as well.
More comprehensive than peers like the Bloomberg Galaxy Crypto Index (BGCI) that focuses only on prominent coins, the company’s CIX100 token is to fund a contender for the crypto crown. Some point to the fallibility of bots in legacy trading and question the abilities of such a highly automated approach to present worthwhile results.
The algorithm has been developed by mathematicians with years of experience trading strategies in the markets. The AI seeks to give correct weight to data inputs based on comprehensive analysis, yet critics point to the need for breaking news and other inescapably human inputs to be a function of unavoidably human analysis.
While the age-old debate on just how much speculation computers are capable of continues, Cryptoindex is stepping right into pole position as an industry touchstone. A portfolio aid for newcomers and experienced retail investors alike, the company aims to reduce volatility and thus risk in the average user’s portfolio.
Cryptoindex is a complex platform that manages a user’s portfolio while monitors the profitability thereof, ultimately eliminating under-performing coins.
VJ Angelo, the Cryptoindex CEO, said:
“I find the opportunities and developments in the cryptocurrency world fascinating and exciting. Cryptoindex offers the opportunity to bring the new currency and banking world together with the traditional investment and trading model.”
He also hopes that the presentation of a new asset class along traditional lines will result in both spheres being impacted, and ultimately merging.
According to Angelo, his platform will,
“accelerate the development and adoption of new products, changing how we bank and trade in the future.”
A former COO at the London Derivatives Exchange (LDX), James Davies, opined that the time is ripe for a professional cryptocurrency index. The pair worked together previously at LDX, where Angelo held the role of CEO.
Cryptoindex Will Have To Perform
Sure to appeal to many as the offering is intuitive, comprehensive and capable of automatically rebalancing a portfolio, the index resembles equity or commodity indices.
Although some of the sleekest exchanges have copious AI at play, any index generated along these lines will have to prove its accuracy over the long term. With highly respectable credentials and a polished offering, the company has brushed off the quibblers and clearly anticipates occupying pole position as the default exchange within the cryptosphere.
Cryptoindex essentially offers users the opportunity to keep a watch on the overall cryptocurrency and individual markets while investing in a number of top-ranking virtual currencies. Traders using Cryptoindex can constantly track the value of the platform’s native index, and users can also set their own paradigms and automate portfolio diversification. By opting for the CIX100 token, traders are exposed to significantly less trading volatility, instead benefiting from a legacy trading experience.