WHAT IS BITTENSOR? Bittensor is an open-source protocol that powers a decentralized blockchain-based machine learning network. It aims to create a marketplace for artificial intelligence, where machine learning models train collaboratively and are rewarded in TAO, the network’s native cryptocurrency, based on the value they contribute to the whole. Bittensor aims to foster an open and permissionless innovation environment on a global scale by providing an open-source repository of machine intelligence that is accessible to anyone, anywhere. The protocol also aims to distribute rewards and ownership of the network to users in direct proportion to the value they contribute.
HOW DOES BITTENSOR WORK? Bittensor works by leveraging the capabilities of a distributed ledger to optimize the development and distribution of artificial intelligence technology. It allows users to extract insights from the network while tailoring its activities to their needs. The protocol uses a unique strategy that leverages globally distributed computing and innovation resources within an incentivized framework. Bittensor’s blockchain allows each market to interact and join a single computing infrastructure, creating a hierarchical network of resources that culminates in the production of intelligence. The protocol’s core technological innovation is the separation of the core operation of the blockchain from the execution of the validation systems that define the markets for its creation of digital assets. #tao #Binance
Bittensor (TAO) Price Prediction 2024-2030: Will TAO Price Reach 1,000,$ Soon?
If you think you’ve seen how AI and blockchain can create so much, think again. For those who don’t know, projects have been integrating these superpowers and reaping great results for over two years now.
But these results cannot be complete without mentioning Bittensor, a project that is using the capabilities of decentralization to take the crypto market by storm.
In less than two years, TAO, the token of the Bittensor ecosystem has outperformed almost all the tokens on the market. But that’s not all, as the cryptocurrency could do more in the future. Grab a drink and read this TAO price prediction from 2024 to 2030 till the end.
What is Bittensor (TAO)?
Bittensor is one of the projects that has shown that artificial intelligence (AI) and blockchain technology can produce something great. As an open-source protocol, Bittensor allows users to extract insights while creating decentralized machine learning models.
The project achieves this by using a peer-to-peer intelligence marketplace while rewarding users with TAO tokens. Interestingly, Bittensor has a similar model to how Bitcoin rewards miners. For Bittensor, it rewards developers who contribute to the development of AI technology in a democratized way.
Because of this, the project has become one of the best AI-themed ecosystems on the market. However, there are other use cases that TAO offers by leveraging blockchain technology. Two of them include privacy and security.
The token also enables governance, meaning holders can vote on proposals on the network.
Crypto: Cardano Trading Activity on the Rise! Will ADA Explode?
Crypto Regulation Recently, Cardano (ADA) has seen a dramatic increase in trading activity, sparking interest among investors and crypto market analysts. According to data provided by Santiment, Cardano is currently experiencing historically high spikes in address activity! This could indicate a potential rebound in ADA’s price in the near future.
Cardano: Trading Activity on the Rise! One of the main reasons for this surge is the recent implementation of Chang on the Cardano network. This highly anticipated update, which introduces decentralized governance, has not, however, led to a substantial increase in the price of the crypto. Despite the excitement surrounding this update, ADA’s price remains outside the top 10 cryptocurrencies, behind assets like Dogecoin (DOGE) and Tron (TRX).
Meanwhile, crypto data reveals that ADA trading volume has increased by 26.16% in the past 24 hours, reaching a substantial $465.31 million. This increase in trading volume indicates an increased level of interest and trading activity in the ADA market. Additionally, Cardano’s price has also seen a notable surge, currently trading at $0.335, an increase of 2.76% in the past 24 hours.
Crypto: ADA Set to Explode? Analysts and traders are interpreting this price surge as a positive signal for ADA, potentially indicating a new bullish trend for the crypto. Cardano, known for its focus on security and scalability through its unique proof-of-stake protocol, is gaining increasing attention as a potential rival to Ethereum (ETH). Additionally, open interest for ADA increased by 11.89%, now reaching $252.84 million.
A new dynamic is observed among the main Bitcoin holders. In recent weeks, the number of wallets with more than 100 BTC has reached its highest level in 17 months. This shows a marked resurgence of interest from whales, these major investors in the sector. In the space of 30 days, these major players have accumulated more than 133,000 BTC, or a colossal sum of $7.6 billion. This record accumulation comes at a time when small investors, alarmed by market fluctuations, are shedding their assets, which creates a contrast in investment behavior.
The surge of whale wallets The number of Bitcoin wallets containing more than 100 BTC has reached a level not seen in 17 months. In August, over 283 wallets crossed this symbolic threshold, bringing the total to 16,120. This increase is described as a “hodling surge” by large Bitcoin holders, often referred to as “whales.” These wallets collectively accumulated over 133,000 BTC in one month, worth an estimated $7.6 billion. Adam BACK, CEO of Blockstream and inventor of Hashcash, has observed this trend and noted that whales have been buying 450 BTC per day since the price crash on August 28, a figure that corresponds to the daily production of new mined bitcoins.
This accumulation coincides with a massive sell-off by smaller investors. Spooked by the price drop, they have apparently parted ways with their holdings. The massive sell-off by small investors thus provides an opportunity for whales to strengthen their positions. This behavior by whales is often seen as a key indicator of market sentiment. Their aggressive accumulation could signal anticipation of higher prices in the future.
Do your own research, this is in no way investment advice.