$TAO Read before you invest:
T.L.D.R. 💡
Bittensor provides a framework for building decentralized markets, each with its own purpose, all connected by a shared token system TAO.
1. What is Bittensor?
- Bittensor is a decentralized network that enables the creation of commodity markets or subnets. These subnets operate independently but are connected through a common token system.
- Think of it as a network of specialized markets, each serving a specific purpose, but all linked together under a unified infrastructure.
2. Decentralized Commodity Markets (Subnets):
- Each subnet within Bittensor focuses on a particular use case or application. For example, one subnet might be dedicated to machine learning tasks, while another could handle #DeFi transactions.
- These subnets are like separate marketplaces, where participants can exchange resources, data, or services.
3. Unified Token System:
- Bittensor uses a single token #TAO that acts as the common currency across all subnets. This token facilitates interactions and transactions within the network.
- Just as Ethereum introduced a common currency ($ETH ) for executing smart contracts, Bittensor does the same for its decentralized markets.
4. Blockchain and Computing Infrastructure:
- Bittensor's blockchain serves as the backbone for these subnets. It ensures security, transparency, and consensus among participants.
- When subnets need to collaborate or share resources, they can do so seamlessly within this unified computing infrastructure.
5. Analogy with Ethereum and Bitcoin:
- Imagine that Ethereum brought the concept of smart contracts to $BTC . It abstracted the underlying blockchain technology to enable programmable contracts.
- Bittensor does something similar but in reverse. It takes the innovation of digital markets (like Bitcoin's role as a store of value) and extends it to create a network of specialized subnets.
