Bittensor $TAO - A Guide for Beginners
Introduction:
I encountered Bittensor when it was priced at $100 but refrained from investing. My reason? I don't invest in Cryptocurrencies that I don't fully grasp.
My goal is to alleviate this obstacle for prospective Bittensor investorsđđœ
1. Understanding Bittensor:
- Picture Bittensor as a vast community where each inhabitant (a Machine Learning Model) possesses unique abilities.
- Rather than relying on a singular central processor, Bittensor disperses tasks among numerous machines, owned by individuals known as "miners."
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2. Operational Dynamics of Bittensor:
- Miners offer their Machine Learning models to the network.
- Should you pose a query, the network employs various models to derive the optimal solution.
- The miner whose model was utilized to provide the solution is compensated with $TAO.
3. The Role of $TAO Token:
- The $TAO Token functions as the local currency within this ecosystem, facilitating transactional exchanges.
- Miners receive $TAO Tokens as remuneration for their contributions.
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4. Staking and Governance Mechanisms:
- Miners are required to stake $TAO Tokens to partake, demonstrating their commitment.
- Ownership of TAO Tokens grants individuals a voice in the governance of the network, ensuring a balanced and secure environment.
5. Bittensor in Relation to #Bitcoin:
- Bittensor shares Bitcoin's decentralized ethos and its own unique digital currency, $TAO.
- Unlike Bitcoin, which is focused on financial transactions, Bittensor is dedicated to the collaborative sharing of computational resources for intelligent tasks.
OpenÏensor Foundation
6. AI Training Versus Inference:
- Bittensor emphasizes the collaborative effort of pre-trained models to provide answers, simplifying the use of intelligent applications without the necessity for individual training.
7. The Integration of AI and Blockchain:
- By merging AI with Blockchain technology, Bittensor creates an equitable, transparent, and reliable ecosystem.
- This combination promotes the widespread availability of intelligent applications and ensures operational transparency.
OpenÏensor Foundation
8. The Prospects for $TAO and Bittensor:
- $TAO tokens are integral to the economic framework of Bittensor.
- With increasing adoption, the valuation of TAO could rise, potentially establishing it as a global standard for AI-related transactions.