Bittenson TAO is the native token in the Bittenson platform, a decentralized marketplace for Machine Learning. Bittenson is open-source, peer-to-peer, and permissionless.
The organization’s whitepaper on their official website is titled ‘Bittensor: A Peer-to-Peer Intelligence Market’. It is to the training of AI models what Bitcoin is to payments.
What Bittensor Do
According to the white paper, Bittensor TAO aims to commoditize machine intelligence with the help of markets. The team proposes a market where intelligence is priced by other intelligent systems peer-to-peer across the internet.
The peers will rank each other by training neural networks that evaluate their neighbors. BT marks the scores on a built-in ledger, and peers with high ranks are monetarily rewarded with additional weight in the network.
Additionally, the mechanism maximally rewards honestly selected weights to make the system resistant to collusion.
How Does Decentralized Intelligence Help?
Reduce Entry Barrier: Decentralizing AI will let researchers with low computational resources contribute to training large neural networks.
Share Learnings: I will also allow AI models to share their learnings with other models which will accelerate their training. The whole idea of sharing is unknown in the centralized AI world.
Allow Replication: Within users, sharing leanings allows users to replicate a model without re-training them.
What Does TAO do?
The primary function of TAO is to serve as the currency of exchange inside the Bittensor blockchain. The contributors of ML models, miners, and validators are also rewarded with TAO.
The resemblance of Bittensor with Bitcoin doesn’t end with its name. Like BTC, Bittensor TAO has a total supply of 21 million tokens, a four-year halving cycle, and a similar emission schedule.
Bittensor History
The Bittensor platform was founded in 2019 by Ala Shabana, a Computer Science Ph.D., and Jacob Robert Steeves, an ex-Google software engineer.
The blockchain and token were released in 2021. Notably, TAO was launched with no tokens pre-mined, known in the community as a fair launch.
The initial conceptualization and development of Bittensor is believed to have started around 2018 and the development of the protocol and blockchain took place in 2019-2020.
In 2021, the focus was on building a community and attracting early adopters, through developer programs. The major supporters of the project include the Opentensor Foundation and other individual contributors.
Where Does TAO Derive Value From
The value of TAO heavily depends on the adoption of Bittensor. The platform is striving to secure a position where other AI companies will use the platform to validate their AI models.
The company also has plans to offer a subscription service for exclusive ML models in the pipeline. It will be like Netflix, only for AL-trained models.
How The Market Sees TAO
The breakthrough event in the life of TAO happened almost a year back on Feb 6, 2023, when the token price hit a then-all-time high of $479.10.
As I write this review, Bittensor TAO is traded at around $500 a token, with some serious intraday volatility. In the past week, the token saw some serious upward momentum.
Final Words
Connecting two of the sexiest technologies of the 21st century, Bittensor sure has some really good value propositions. The platform already has a loyal developer network and the crypto market also loves its token.
It is expected that the next breakthrough moment of Bittensor will be if and when the enterprises start to adopt the platform.
A Word of Caution
None of the content in the article is financial advice and the readers are advised to do their research before putting any money into any of the assets or securities mentioned in this article.
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