Bittensor
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Information about Bittensor (TAO)
Bittensor is a P2P machine learning protocol that incentivizes participants to train and operate machine learning models in a distributed manner. Bittensor is a decentralized network that’s designed to connect machine learning models, rather than computers or servers.
Bittensor uses a unique blockchain architecture designed to facilitate a decentralized machine learning protocol. Bittensor employs a Proof of Stake (PoS) consensus mechanism, which is different from the Proof of Work (PoW) mechanism used by networks like Bitcoin. In PoS, validators are chosen to create new blocks and confirm transactions based on the number of tokens they hold and are willing to “stake” as collateral.
TAO is a native coin of the Bittensor ecosystem, operating on Bittensor, and can be used to:
- Incentivize various participants in the Bittensor network.
- To participate in the network as a miner and earn rewards, participants must stake TAO tokens.
- TAO holders may have the ability to propose changes, vote on protocol upgrades, or participate in other decision-making processes that affect the network.
- Users who need machine learning services provided by the Bittensor network may need to pay for these services using TAO tokens.
Specifications
- Name: Bittensor
- Symbol: TAO
- Platform: Bittensor
- Type: Utility, Governance
- Total Supply: 21,000,000 TAO
News
All top five Crypto AI tokens have turned profits, following a 10% rise in Nvidia’s stocks since April 9, which went from 94.50 USD to 114 USD.
SEI has become one of the most searched assets in Coingecko, contributing to its price rally potential as capital inflows increased due to favorable US CPI data.
Render Network leads with a 45.6% gain, Bittensor at 30.4%, FET at 35%, and ICP with 10.3%, showcasing a robust week for Crypto AI tokens.
Altcoins Flare, Ondo, and Bittensor surged in value as President Trump paused tariffs, with Flare at 0.0145 USD after a 26% increase. In comparison, Bitcoin faced profit-taking, struggling to break away from volatility.
Despite the altcoin rally, Bitcoin maintains a 62% dominance in the market with a valuation of 1.63 trillion USD. Traders remain cautious as the overall market begins to react to macroeconomic factors.
Bittensor is eyeing a significant breakout, potentially targeting 393 USD, thanks to positive indicators showing bullish sentiment. However, it faces resistance from key moving averages, which may influence price direction.
Bittensor (TAO) is targeting 240 USD but has recently experienced a price drop from 470 USD to 180 USD, reflecting bearish control over the market.
The Chaikin Money Flow suggests bulls might gain traction, yet due to market volatility, traders are advised to stay cautious and watch for potential reversals in the near future.
Bittensor’s subnet tokens saw a remarkable surge, transitioning from a market cap of 4,000,000 USD to over 200,000,000 USD in just two months. This growth reflects a strong interest amidst market fluctuations.
In the past year, the number of active subnets has tripled, indicating growing decentralized AI learning capabilities and positioning Bittensor as a leading player in the cryptoasset market.
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