Bittensor: A Decentralization Machine Learning Network Leading the New Trend of Web3+AI

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The wave of the AI revolution is coming.

In recent years, artificial intelligence technology has developed rapidly, leading us into a data-driven new era. Major breakthroughs in fields such as deep learning and natural language processing have made AI applications ubiquitous. The emergence of ChatGPT in 2022 completely ignited the AI industry, followed by a series of AI tools such as text-to-video and smart office solutions. AI technology is penetrating various industries, and the market scale is also expanding rapidly, expected to reach $185 billion by 2030.

However, the current AI industry is mainly dominated by a few tech giants, which inevitably brings challenges such as data centralization and uneven distribution of computing resources. At the same time, the decentralized philosophy of Web3 offers new possibilities for addressing these issues. With the support of Web3's distributed network, the development landscape of the AI industry is expected to be reshaped.

In this wave of AI enthusiasm, a number of high-quality Web3+AI projects have emerged. For example, Fetch.ai builds decentralized economies through blockchain, supporting autonomous agents and smart contracts; Numerai uses blockchain and a community of data scientists to predict market trends; Velas has created a high-performance smart contract platform that combines AI and blockchain. Overall, AI projects encompass three key elements: data, algorithms, and computing power. Currently, the Web3+data and Web3+computing power sectors are developing rapidly, while the Web3+algorithm direction is relatively lagging. Bittensor has keenly seized this opportunity by building an AI algorithm platform with a built-in filtering function through blockchain's competitive incentive mechanism, to retain the most high-quality AI projects.

Bittensor: How AI Subnets Reshape Collective Intelligence Networks?

Bittensor: A decentralized AI network

Bittensor is a decentralized machine learning network and digital goods marketplace. It has the following features:

  • Decentralization: Bittensor operates on a network composed of thousands of distributed computers, effectively addressing issues such as data centralization.

  • Fair Incentives: The token rewards provided by the network to the subnet are proportional to the contributions, and the reward distribution within the subnet follows the same principle.

  • Open resources: Provide services for every individual in need of machine learning computing resources.

  • Diversified Market: Not only supports the trading of machine learning models and data, but also allows the trading of various forms of digital goods.

Unlike many highly valued VC projects, Bittensor is more like a geek-driven project, and its development process has not gone through the common "making grand promises to deceive investors" stage.

In 2021, a group of technology experts dedicated to decentralized AI created Bittensor, building the blockchain using the Substrate framework. The Alpha version network was released in 2022, validating the feasibility of decentralized AI. In 2023, the Beta version and the token economic model TAO were launched. In 2024, DHT technology will be applied to enhance data processing efficiency, and efforts will begin to strongly promote subnets and digital goods markets.

Bittensor: How AI Subnet is Reshaping Collective Intelligence Networks?

The Bittensor token TAO is similar to Bitcoin in many ways, with a total supply of 21 million coins and halving every four years. It is distributed through a fair launch, with no pre-mining and no team allocation. A block is generated every 12 seconds, rewarding 1 TAO, and approximately 7,200 TAO are distributed daily to various subnets and their nodes based on contribution.

Currently, the total number of Bittensor network accounts exceeds 100,000, with non-zero accounts reaching 80,000. Over the past year, the price of TAO has seen an astonishing increase, with a market capitalization of 2.278 billion dollars and a unit price of 321 dollars.

Bittensor: How AI Subnets are Reshaping Collective Intelligence Networks?

Subnet: The core architecture of Bittensor

The Bittensor network consists of multiple subnets, each with unique user incentives and functional designs, while maintaining the same consensus interface as the main network. Currently, there are a total of 45 subnets, excluding the root subnet, and it is expected to increase to 64 by July this year.

The subnet mainly includes three roles:

  • Subnet Owner: Responsible for providing the underlying code and setting up incentive mechanisms.
  • Miner: Run servers and compete for computing resources
  • Validator: Evaluate miner contributions and earn staking rewards

Subnetwork emission is the token distribution mechanism of Bittensor, typically 18% is allocated to owners, 41% to validators, and 41% to miners. Each subnetwork has 256 slots, of which 64 are allocated to validators and 192 to miners. The performance of validators and miners determines the overall emission and ranking of the subnetwork.

The newly registered subnet has a 7-day immunity period, and the initial registration fee is 100 TAO. When all subnet positions are filled, the subnet with the lowest emission and without immunity will be eliminated. Therefore, subnets need to continuously increase their staking amount and efficiency to ensure survival.

Bittensor: How AI Subnet is Reshaping Collective Intelligence Networks?

Thanks to this architecture, the decentralized AI data network Masa has successfully landed, becoming the first dual-token reward system in the Bittensor network, and has secured $18 million in funding.

Bittensor: How AI Subnet is Reshaping Collective Intelligence Networks?

Unique consensus and proof mechanism

Bittensor adopts various innovative consensus and proof mechanisms:

Proof of Intelligence ( PoI ): Miners prove their contributions by completing intelligent computing tasks, which may include natural language processing, data analysis, and more. Validators score based on the quality of completion.

Yuma Consensus: Input the validators' ratings into the algorithm, with higher weights for validators with larger staking amounts. At the same time, outlier results are filtered out, and rewards are ultimately distributed based on the comprehensive scores. This mechanism follows the principle of data unawareness, protecting privacy and security.

MOE mechanism: integrates multiple expert-level sub-models to work collaboratively for better results. Validators can score and rank the expert models, incentivizing continuous optimization.

Bittensor: How AI Subnet Reshapes Collective Intelligence Networks?

Subnet Project Overview

Currently, Bittensor has 45 registered subnets, 40 of which have been named. As the quota increases, the competition for registration has eased somewhat, but in the long run, poorly performing subnets will still be eliminated.

Apart from the Root Subnet, the 19th Vision, 18th Cortex.t, and 1st Subnet are the most关注, with emission shares of 8.72%, 6.47%, and 4.16% respectively.

Vision focuses on decentralized image generation and inference, providing access to top open-source models. Currently, the total earnings of nodes in the last 24 hours are approximately 627.84 TAO, and the average daily earnings of new nodes can reach 866 USD.

Cortex.t is committed to building a cutting-edge AI platform that provides text and image services through APIs. The total hourly node earnings are approximately 457.2 TAO, and new nodes can achieve an average daily income of up to 553.64 dollars.

Subnet 1 is the earliest text generation subnet, which has been questioned, but still maintains a high ranking.

In addition, there are various types of subnet projects such as data processing and trading AI. Overall, successful operating nodes can yield considerable profits, but new nodes face intense competition.

Bittensor: How AI Subnets Are Reshaping Collective Intelligence Networks?

Bittensor: How AI Subnets Reshape Collective Intelligence Networks?

Bittensor: How AI Subnets are Reshaping Collective Intelligence Networks?

Bittensor: How AI Subnet is Reshaping Collective Intelligence Networks?

Bittensor: How AI Subnet Reshapes Collective Intelligence Networks?

Bittensor: How AI Subnet Reshapes Collective Intelligence Networks?

Bittensor: How AI Subnet Reshapes Collective Intelligence Networks?

Bittensor: How AI Subnets are Reshaping Collective Intelligence Networks?

Development Prospects

The Web3+AI field is expected to maintain market heat for a long time. Bittensor, as a project with both technical strength and market recognition, is likely to continue its development. Its subnet architecture lowers the entry barrier for AI teams to enter decentralized networks, and the competitive elimination mechanism will also drive the project to continuously optimize.

However, as the number of subnets increases, the earnings of the existing subnets may be diluted. If the TAO price does not rise accordingly, it may affect the earnings expectations of some participants. In addition, the reduction of the subnet threshold also increases the risk of mixed quality. The future development of the project still requires continuous attention.

Bittensor: How AI Subnets Reshape Collective Intelligence Networks?

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WhaleWatchervip
· 8h ago
How do you actually play AI?
View OriginalReply0
NftDataDetectivevip
· 9h ago
meh... another ai token tryna reinvent the wheel tbh
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CascadingDipBuyervip
· 9h ago
Here comes Be Played for Suckers again.
View OriginalReply0
BankruptWorkervip
· 9h ago
Oh, is there still a chance to make money?
View OriginalReply0
BridgeTrustFundvip
· 9h ago
Just follow BTC and it will be done.
View OriginalReply0
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