The Bittensor Revolution, scheduled for October 2nd, marks a fundamental shift in the Bittensor ecosystem. Spearheaded by Opentensor, the primary development organization for Bittensor, this revolution seeks to redefine the distribution of authority, computation, and governance in Bittensor's network.
Changing Hierarchies and The Role of Opentensor Foundation
Until recently, the Opentensor Foundation acted as the custodian for Bittensor, controlling its development and overseeing its incentive mechanisms. This centralized hierarchy is set to change with Bittensor Revolution, opening doors for individual participants to have the same influence as the Opentensor Foundation.
A Computational Revolution
The Bittensor Revolution introduces the capability to easily write incentive mechanisms through the language of human consensus, powered by TAO. This means Bittensor is not just evolving in terms of governance but also in computational terms. The platform will be the first to have a language to write incentive mechanisms for digital commodities, marking a revolutionary step in computational technology.
Governance and Emission Schedules
Another significant aspect of this revolution is a change in how emission schedules are managed. Previously controlled by the Opentensor Foundation, these schedules will now be under the purview of delegates or members of the root network. These delegates will have the authority to direct incentives throughout the ecosystem and even push non-valuable mechanisms into non-existence, encouraging innovation.
Understanding Subnets and Submits
A subnet is essentially an environment where TAO is mined under the constructed reward landscape by validators. Subnets can now be owned by various individuals or groups rather than just the foundation. Subnets are now identified by specific unique identifiers (UIDs), and their operations and interactions can be programmed by their respective owners. The coding specifics have been decoupled from the central repository and can be governed at the subnet level.
Registration and Competition for Subnet Positions
To register a subnet, participants lock TAO for the subnet's duration, and this amount is adaptive depending on demand. For instance, the initial rate for lock-up is 2,500 TAO, which can increase or decrease over time. Once a subnet is deregistered, the locked TAO is returned. The owners of subnets will acquire 18% of the emissions generated through that subnet.
The Root Network
The root network acts as the meta-subnet distributing emissions across subnets. Running a pared-down version of Uniconsensus, it produces an emission vector across these subnets. The root network serves a dual role as the Network Senate, giving it the power to affect changes across the Bittensor ecosystem.
User Interface and Other Functionalities
The Bittensor Command Line Interface (CLI) has been updated to accommodate these new functionalities. Through the CLI, participants can register subnets, perform various operations, and interact with the root network if they are large-scale delegates.
Systematic Emission Distribution
A significant change in VT's protocol is the introduction of a systematic way to create subnets. Emissions are no longer controlled by the Opentensor Foundation but are instead determined by the root network. While it might seem that anyone can decide the amount of emission they receive, this is not the case. Consensus among other delegates on the root network is needed before emissions are distributed.
The Root Network and Subnets
VT has transitioned into a network of networks, with the root network serving as the central controller. This new system requires a high degree of communication among delegates. When it comes to subnets, initially, nine slots will be available, though not all will be active immediately. It will likely take a few weeks for these subnets to mature and integrate into the network.
Unique Identifiers and Emission Levels
On launch day, each subnet will start with 256 unique identifiers (UIDs), except for subnet one, which will retain its 1,024 UIDs. The emission levels are determined by human consensus, specifically through a mechanism called YC1 that ran in Kusanagi.
Deprecated Subnets and Validator Penalties
Subnet 11 (SN11) will likely be deprecated following the new launch. Validators are not penalized if they haven't set weights on S0 and can validate on any subnet. This separation ensures economic security across all subnets.
Validator and Miner Updates
Validators and miners are required to update their setups by Monday. The protocol is shifting to Bittensor revolution, employing Fast API over gRPC. Miners using the previous Axon protocol will not be able to receive requests from the updated validators, so updates are crucial.
Developer Engagement and Future Projects
While specific projects will be discussed in detail later, current development efforts include a storage subnet, a map-reduce subnet, and a distributed training subnet, among others. Subnet creation will initially cost 2,500 units, and the price will increase for each subsequent subnet. These costs will decline over a two-week period, similar to a Dutch auction mechanism.
Timeline and Support
The release is scheduled for Monday at 2pm EST. Support will be available on Discord and Twitter to assist with the migration process.
In My Opinion
This shift in Bittensor's ecosystem could be a game-changer not just for the platform but potentially for the broader world of decentralized networks. Decentralization is often promised but rarely fully realized; the steps Bittensor is taking could serve as a blueprint for other networks looking to fully commit to a decentralized governance model. Particularly impressive is the ability to write incentive mechanisms, which could drive more granular and efficient forms of digital commerce and social coordination. The introduction of a decentralized approach to emission schedules and governance also indicates a more democratic, community-driven ethos, which could further accelerate innovation within the network. However, the complexity introduced by these changes could present challenges in terms of network security and adoption rates, and it will be interesting to see how Bittensor addresses these concerns post-launch.
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