Bittensor uses the Proof of Intelligence (POI) consensus mechanism to commercialize AI. Subnets in the network compete by performing machine learning tasks such as model training, data processing, and AI-related work.
The accuracy and value of the results determine whether the subnet is selected to add new blocks to the blockchain, and is rewarded with TAO tokens. This mechanism incentivizes the development and improvement of machine learning models in the network.
Bittensor Highlights
The Bittensor network is decentralized, distributing tasks across many miners’ machines, who contribute machine learning models to analyze data and generate insights. The consensus mechanism selects the best responses to queries and passes them on to users.
Miners are rewarded in tokens, and users use tokens to access network services.
TAO Token Information
Name: Bittensor
Code: I
Contract: Update more,..
Total supply: 21,000,000 TAO
Circulating supply: 7,015,219 (as of 4/7/2024)
It is known that TAO token is designed quite similar to Bitcoin with a supply limit of 21 million tokens like Bitcoin and is gradually distributed in the form of block rewards for miners and validators.
In addition, TAO also has a cycle. halving Happens every 4 years with block rewards being reduced by half. The first halving will take place in 2025.
Maybe this is a Bitcoin dump?
Some notable milestones
3/1/2021: The mainnet project was originally called Kusangi.
11/21/2021: Kusangi shuts down and hard forks to the Nakamoto version.
8/8/2022: Update Synapse version.
12/1/2023: Updated Finney version and introduced subnet structure for the first time.
