Bittensor (TAO) Price

AI will drive the bull market in 2024, similar to how the last bull market was driven by the internet. AI is not a new concept, and the current bottleneck is the application of blockchain. The development of AI has led to a strong demand for blockchain.

The development of AI relies on two crucial infrastructures: decentralized computing power and decentralized storage. Because the core of AI, data, and its processing, becomes very expensive if relying on centralized computing power and storage.

The data collection and learning time for AI are lengthy, especially for AI used in advertising where the data collection and learning cycles are extended. AI is divided into two levels:

1. AI programs that learn based on pre-set learning models.


2. AI applications that generate corresponding automated applications based on data collected by neural networks.

For businesses, they often prefer to apply AI rather than invest a long time in developing a new AI core. For example, designing an automated trading robot using neural networks to replace a trader. It can even automatically predict price trends based on market information such as news.

AI programs themselves are divided into multiple levels, including:

1. Machine Learning, discovering rules through data or learning existing rules, enabling machines to make decisions.


2. Deep Learning, processing large amounts of data through neural networks to understand data, often used simultaneously with Machine Learning.


3. Expert Systems, specialized AI such as fully automated trading robots.


4. Natural Language Processing, processing and understanding language for interaction with humans.


5. Computer Vision, processing and understanding images and videos.


6. Reinforcement Learning, improving the accuracy of AI decisions through continuous trial and error and rewarding correct decisions when Machine Learning involves autonomous decision-making.

Different AIs may not develop through all six levels as their design purposes vary. The main goals of AI are to improve business productivity and reduce production costs.

Bittensor, created by Jacob Robert Steeves in 2021, is a Machine Learning AI that leverages blockchain data to generate AI applications in the Web 3 domain, such as automated Yield Farming.

DeFi is a goldmine on the blockchain besides mining. Centralized AI, like ChatGPT, heavily relies on data crawled from search engines. On-chain data cannot be retrieved by search engines. Another issue is the recent popularity of Telegram Bots, which are more of a hype and lack practical value, making them not truly AI. Thus, Bittensor became the only AI on the blockchain in 2021 actively undergoing machine learning.

This is the main reason for the surge in Bittensor prices—genuine blockchain AI.

Bittensor utilizes some oracle thinking, such as BAND, allowing miners to provide data to Bittensor and receive rewards in the form of Bittensor token $TAO. Similarly, using Bittensor also requires payment in $TAO tokens.

What Is Bittensor?

Bittensor is a revolutionary open-source platform that merges blockchain technology with artificial intelligence (AI) to create a decentralized, collaborative network for machine learning. The platform allows participants to contribute to the training of AI models across a distributed network and rewards them with its native cryptocurrency, TAO, based on the informational value they add. This unique setup not only democratizes access to AI development but also provides a trustless, transparent marketplace where AI can be developed, shared, and monetized.

The ultimate goal of Bittensor is to establish a global, peer-to-peer intelligence market where AI resources are accessible to all, fostering open innovation on an unprecedented scale. By incentivizing participation through a token-based economy, Bittensor aims to create a decentralized ecosystem where consumers and producers of AI can interact freely, advancing the development of AI technology and distributing ownership and rewards equitably.

How Does Bittensor Work?

Bittensor operates as a decentralized machine learning network that leverages blockchain technology to ensure security, transparency, and decentralized governance. At the core of its architecture is the TAO token, which serves both as a means of rewarding participants and as a utility token for accessing the network's AI resources.

Here’s how it works:

Collaborative Training: Machine learning models on Bittensor are trained collaboratively by miners, who contribute their computational resources to the network. These models are rewarded in TAO based on the informational value they provide. This value is assessed by the protocol, ensuring that contributors are compensated in proportion to their contributions, thereby creating a direct incentive for continuous participation and innovation.

Decentralized AI Marketplace: Bittensor’s decentralized nature means that no single entity controls the network. Instead, it operates as a peer-to-peer marketplace where AI models are developed, shared, and monetized. By using blockchain, Bittensor enables a transparent, open environment where developers can contribute to the AI ecosystem, and users can access a diverse pool of machine learning resources.

Access and Utilization: TAO tokens allow users to access the AI models on the network, giving them the ability to extract and utilize the collective intelligence generated by the community. For example, businesses or individuals can query the network for insights, train new models, or enhance existing applications using the AI data available. The decentralized governance model ensures that all stakeholders have a say in the network’s development, fostering a self-sustaining ecosystem.

By bringing together the power of blockchain and AI, Bittensor offers an optimized, scalable solution for AI development. The protocol supports global collaboration, enabling individuals and organizations to leverage distributed computing power and innovate within a framework that values transparency, ownership, and equitable rewards.

Bittensor's Founding Team

Bittensor was co-founded by Jacob Steeves and Ala Shaabana, both of whom have extensive backgrounds in computer science and AI research. Jacob Steeves, with his deep expertise in distributed systems, brought forward the concept of merging blockchain with AI to create a decentralized learning network. Ala Shaabana, a specialist in AI and machine learning, contributed significantly to the technical development of the platform, focusing on optimizing the collaborative training mechanisms and value distribution models.

Together, Steeves and Shaabana have established Bittensor as a pioneering platform that redefines how AI is created and shared. Their combined vision is to foster a global community where AI can flourish in a decentralized, open environment, enabling innovators to contribute to and benefit from a shared intelligence market. Through Bittensor, they aim to set a new standard for transparency, accessibility, and reward distribution in the rapidly evolving field of artificial intelligence.

Bittensor’s Tokenomics

Bittensor is a decentralized network that combines blockchain and machine learning, allowing models to train collaboratively while being rewarded in TAO tokens for their contributions. TAO tokens incentivize participation and grant access to the network’s collective intelligence. The system operates without central control, promoting open and transparent AI development and innovation on a global scale, with rewards distributed based on the value users provide.

The total supply of Bittensor is capped at 21 million tokens, with allocations as follows:
•    Validator 50%
•    Proof of Intelligence Miner 50%