What is Nosana (NOS)? Project and Token Analysis

Coin: Nosana
Ticker: NOS
Date Deployed: Tues Nov 29, 2022

Origin of the Project

Nosana is an innovative platform that bridges the gap between AI users and GPU owners by offering affordable access to powerful GPUs while providing GPU owners with an opportunity to earn income. On the Nosana platform, GPU owners can rent out their hardware to AI users, enabling faster training and utilization of AI models. Alongside GPU rentals, Nosana offers a suite of tools designed to help users maximize the efficiency and performance of their GPU resources. In exchange for contributing computational power, contributors are rewarded with NOS tokens, the native cryptocurrency of the Nosana ecosystem.

The concept for Nosana originated in 2021 in Amsterdam, where the team, combining expertise in software engineering, computer science, and artificial intelligence, set out to innovate the computing landscape. Initially, their focus was on creating a decentralized crowd computer tailored for CPU computations, particularly to enhance CI/CD (Continuous Integration/Continuous Deployment) practices. Backed by funding from the Solana Foundation and pre-seed investments, the team overcame technical challenges and scalability issues to develop a secure and efficient platform. Recognizing the broader potential of GPU computing, they shifted their focus towards AI inference workloads, paving the way for Nosana to become a key player in the GPU computing space.

Products

Continuous Integration (CI):

Automates the process of testing and integrating code, making development more efficient.
Helps developers focus on coding by eliminating repetitive tasks, improving productivity.

Continuous Deployment (CD):

Streamlines the deployment of software, ensuring updates are automatically and reliably pushed.
Reduces the risk of bugs in software updates by running comprehensive tests throughout the pipeline.

Should NOS Be in Your Portfolio?

Before you decide whether or not to add NOS to your portfolio, click here to scan the contract on Solsniffer. Solsniffer is the number one blockchain intelligence tool to detect security risks on Solana. Security risk analysis on Solana has never been easier, make sure to be aware of potential DeFi wallet scams and other crypto security concerns before investing.

Due Diligence Tips Before Investing or Trading NOS

Analyzing NOS as a token is important for understanding its potential. Review its whitepaper, community engagement, development team, and long-term roadmap. Is the project solving a real problem and has a clear plan for the token in its ecosystem?

Perform in-depth research before trading any Solana-related project, including NOS. Understanding the project’s whitepaper, the use case, and the founding team’s goals will give you insight into the coin’s potential.

The orderbook can leave clues too, when there are more buy orders than sell orders, NOS’s price is likely to rise, while an excess of sell orders could lead to a price drop. It can also help identify past market manipulation.

Develop a Safe Trading Strategy

Having a structured trading strategy prevents making emotional mistakes. If you cover multiple aspects, such as considering market conditions, clear trading goals, and determining entry and exit points, it can improve your chances of success. Your risk tolerance can make a great plan if you follow it and if the market agrees with your strategy.

In crypto, it’s easy to get caught up in the excitement and make impulsive decisions, especially when seeing how many others are making loads of profits. Avoid rushing into buying NOS during a price pump, as a correction can follow.

An effective risk management strategy is a great differentiator as a trader, and that includes NOS. Use stop-loss and take-profit orders to limit losses and lock in profits automatically. Also, position-sizing is smart to not risk too much of your capital on a single trade, protecting your portfolio from significant losses.

How to Scan NOS on Solsniffer

Copy the NOS contract address: nosXBVoaCTtYdLvKY6Csb4AC8JCdQKKAaWYtx2ZMoo7
Open the Solsniffer website and paste the address in the search bar.
Within seconds, a detailed analysis of NOS on-chain data is generated.
A security score called Snifscore also ranks the project out of 100 to determine the authenticity of the project.

NOS Tokenomics

Total Supply: 100,000,000
Max Supply: Unknown
Market cap: $119,672,366

Snifscore Analysis

Snifscore: 84/100
High-risk factors: 2
Medium-risk factors: 1
Low-risk factors: None

Summary of (5) Contract Passed Indicators

Balanced ownership in top 20 wallets
No permanent control risk
Sufficient liquidity confirmed
No auto-freeze risk
Recent user activity confirmed

Find Out if NOS Is a Fraudulent Token

Detecting a scam project requires a combination of caution, research, and vigilance. Fraudsters come up with numerous ways to trick investors, staying awake to the warning signs before falling victim.

One of the first red flags is an offer that guarantees high returns with little to no risk. Rug pulls are the most common scam at the moment, the project creators build hype around a new Solana project and then disappear with the profits. If the team of a project stops providing updates, it could be a sign of trouble.

A few tips to protect yourself is to research the team behind a project, see how well they execute their roadmap, use secure wallets, enable 2FA and avoid giving your personal data to social media giveaways.