Bittensor：AI和机器学习的去中心化协议

1. Project Introduction

Bittensor is a decentralized protocol focusing on AI and machine learning, at the forefront of decentralized artificial intelligence (AI) field. By utilizing blockchain technology, BitTensor aims to address some core issues encountered in the traditional AI development process, such as data ownership, incentive mechanisms for model training, and accessibility of AI services.

Currently, training machine learning models requires a significant amount of resources and is usually only affordable by big companies like Google and OpenAI. In response to this, Bittensor aims to decentralize access and training of machine learning models, running in a censorship-resistant manner. Decentralized machine learning models prevent similar models trained by different companies from training in isolation, promoting the composability and composability of open-source AI models to accelerate the advancement in the AI field.

Bittensor's AI ecosystem operates with its native token $TAO: incentivizing contributions with $TAO token rewards, fostering collaboration, and safeguarding the blockchain ecosystem. One of its unique features is the specialized subnet structure. These subnets are places where real value is created through competition and cooperation, encouraging innovation and emphasizing inclusivity and quality.

Bittensor's tokenomics are designed to encourage fair distribution practices, ensuring consistent incentives among network participants. The design of TAO token is meant to grow exponentially with the expansion of the network participant base. Currently, approximately 89% of circulating TAO tokens are staked, reflecting the high level of network participation.

2. Core Mechanisms

Network Ecosystem

Bittensor's ecosystem thrives due to its unique subnet dynamics, where each subnet provides appropriate incentives for various AI applications. This setup showcases its diversity and innovation, areas that many services catered towards large AI companies might overlook. A single TAO token ecosystem supports these activities, giving token holders a significant say in how AI develops within the network.

Bittensor Machine Learning Approaches and Mechanisms

Bittensor connects several key types of participants within its network:

Miner Layer: The core of AI-driven innovation in Bittensor, miners host and run various AI models.

Validator Layer: Plays a crucial role in maintaining the integrity and consensus of the blockchain, ensuring that the network operates according to established rules.

Enterprise Layer: Devoted to developing cutting-edge applications that leverage the network's AI capabilities to solve complex problems.

Consumer Layer: Provides access to the solutions and services generated by the network for end-users and organizations.

This enables secure and efficient collaboration between blockchain operations and AI services.

Decentralized Mixture Of Experts (MoE)

Additionally, Bittensor employs a decentralized mixture of experts (MoE) to enhance the accuracy and efficiency of AI predictions through the collaboration of multiple specialized AI models. This approach combines the unique strengths of each model to address complex problems, resulting in more precise and comprehensive outcomes that surpass traditional single-model approaches. For example, in generating Python code with Spanish language comments, the language proficiency of one model and the coding expertise of another model are combined to provide superior solutions.

Proof Of Intelligence

Proof of Intelligence is a way for nodes on the Bittensor network to be rewarded for adding useful machine learning models and results. It is similar to how blockchain networks use PoW and PoS, but nodes are not solving mathematical puzzles; instead, they are performing machine learning tasks to demonstrate their intelligence. If a node's machine learning work is accurate and valuable, it has a better chance of being selected to add new blocks to the chain and earn TAO tokens as a reward. To earn rewards on the Bittensor network, servers must not only produce valuable knowledge but also gain the approval of the majority of validators. By adopting this consensus mechanism, Bittensor incentivizes valuable contributions, promotes collaboration, and protects the blockchain.

3. Tao

TAO token is the native cryptocurrency of the Bittensor network. It serves several key functions and purposes within the ecosystem:

Incentives: TAO tokens are used to incentivize various participants in the Bittensor network. Miners who contribute computing resources to perform machine learning tasks receive TAO token rewards for their contributions. This reward mechanism encourages the provision of computational power to the network, which is crucial for the decentralized machine learning process.

Staking: To participate as a miner in the network and receive rewards, participants must stake TAO tokens. Staking serves as collateral or a form of "skin in the game," helping ensure that miners act in the best interest of the network. It also makes any malicious behavior by participants costly, thereby helping to protect network security.

Governance: TAO tokens can be used for governance on the Bittensor network. Token holders may have the ability to propose changes, vote on protocol upgrades, or participate in other decision-making processes affecting the network. This aligns with the decentralized spirit of blockchain technology, where control is distributed among stakeholders rather than centralized in a single entity.

Transaction Fees: Transactions on the Bittensor network, such as token transfers or smart contract executions, may require fees. These fees are typically paid in TAO tokens to compensate validators and miners for the costs of processing and securing transactions on the blockchain.

Economic Model: TAO tokens underpin the economic model of the Bittensor network. It is designed to balance the supply and demand of computing resources, adjust incentives among participants, and facilitate value exchange within the ecosystem.

Access to Services: Users in need of machine learning services provided by the Bittensor network may need to use TAO tokens to pay for these services. This creates a market for machine learning services that can be exchanged for tokens, such as data analysis, model training, or predictions.

TAO token is an integral part of the Bittensor network's functionality, providing the economic and incentive structure that supports the decentralized machine learning marketplace, coordinating the interests of various stakeholders through token-based incentive measures.

As of now, the current price of TAO token is $568.38 USD. Its market capitalization is $3,721,338,889 USD, ranking 31st. TAO is a relatively large crypto asset with significant market share. Its 24-hour trading volume/market cap ratio is 1.14%, indicating a relatively active market where a small portion of the total market cap is traded daily. Its circulating supply is 6,547,324 TAO, accounting for 31.18% of the total supply. This suggests that over a third of the maximum supply is being traded or held in the market. The maximum supply of TAO is 21,000,000 TAO, a fixed supply cap designed to prevent inflation and potentially increase scarcity over time. Fully diluted market cap is $11,936,827,522 USD, meaning if all TAO were calculated at the current price, the market cap would be close to $12 billion USD.

TAO also undergoes halving every four years, similar to Bitcoin. Once the total supply reaches half, the issuance rate is halved. A block is mined every 12 seconds, roughly equating to a halving event every four years. Subsequent halving events occur at intervals corresponding to half of the remaining TAO to be issued until the entire supply of 21 million TAO is in circulation.

If you want to purchase TAO, you can do so through exchanges like MEXC, Bitget, Gate.io, and Kucoin. TAO can also be purchased through the decentralized exchange Kujira Fin.

4. Team/Funding Status

Bittensor has a strong team behind it. According to LinkedIn, the company has a total of 14 employees. Some individuals hold PhDs in physics and artificial intelligence. Most team members have backgrounds and experience in computer science, artificial intelligence, and engineering.

The co-founders of Bittensor are Jacob Steeves and Ala Shaabana. Jacob Steeves is the CEO and co-founder of Bittensor. He has a background in machine learning research and founded Bittensor to achieve decentralization in artificial intelligence. He has also worked at Google for several years. Ala Shaabana is the COO and co-founder of Bittensor. He holds a PhD in machine learning.

As of now, Bittensor has completed three funding rounds: Series A: Bittensor completed its Series A funding on May 12, 2021. The amount was undisclosed and marked as "secret"; Early-stage venture capital: Bittensor has also completed other early-stage venture capital rounds not specifically mentioned; Accelerator/Incubator: Bittensor also completed an accelerator/incubator program on January 1, 2021, with details once again marked as "secret."

Bittensor's investors include Collab+Currency, Gravity Fund, NGC Ventures, Oss Capital, and Creative Destruction Lab, among other venture capital firms, indicating diversified backers who believe in the company's mission.

5. TAO and the Future of Bittensor

Utility Expansion, Network Growth, and Ecosystem Development

As the native token of Bittensor, TAO plays a pivotal role in the network's economy. As the Bittensor network expands, the utility of TAO could extend beyond simple transactions to include governance, staking, and acquiring premium services, potentially increasing its value and demand.

If Bittensor successfully attracts more miners and users, increased activity on the network may lead to a higher valuation of TAO due to increased usage.

Developing additional services and applications on top of Bittensor can create an ecosystem where TAO is used for various AI-related services, further integrating it into the AI and blockchain markets.

Research and Innovation

TAO can be used to fund research and innovation within the Bittensor network, driving advancements in AI and blockchain technology to increase the token's value.

Global AI Market

If Bittensor becomes a global marketplace for AI services, TAO could become the standard currency for AI transactions, similar to how Bitcoin has become synonymous with cryptocurrencies.

Regulatory Compliance

As AI and blockchain regulations evolve, the design of TAO may adapt to these new standards, potentially making it a more stable and reliable asset.

Collaboration and Integration

Strategic partnerships with other blockchain networks, data providers, and AI companies could bring wider use cases for TAO and integration into other platforms.

6. Conclusion

In conclusion, the integration of artificial intelligence with blockchain technology (as exemplified by networks like Bittensor) has the potential to create a more open, transparent, and collaborative environment for artificial intelligence. As the native token of Bittensor, the future potential of TAO depends on whether the network can nurture a strong ecosystem where AI models can be trained, shared, and utilized in a secure and decentralized manner.

As platforms like Bittensor develop, they can enable smaller entities to compete with larger organizations in utilizing cutting-edge AI tools, significantly impacting various industries. Additionally, the use of TAO can incentivize continuous improvement and deployment of AI models, fostering a cycle of innovation and adoption.

The success of TAO may depend on several factors, including the scalability of the Bittensor network, the usability of miners and consumers of AI services, the network's ability to ensure the quality and reliability of AI outputs, and the overall adoption of blockchain and AI technologies across different sectors.

If Bittensor can address these challenges and leverage the opportunities brought by the integration of AI and blockchain, TAO could become a key asset in the emerging field of decentralized AI services. This would not only increase the value of TAO as a token but also position Bittensor as a key player in shaping the future of integrated AI and blockchain.