Bittensor (TAO) currently has a price of ¥91.8K and is down -0.64% over the last 24 hours. The cryptocurrency is ranked 34 with a market cap of ¥578.3B. Over the last 24 hours, it saw ¥3.7B of trading volume. The token has a circulating supply of 6.3M tokens out of a total supply of 21M tokens.
Bittensor is an open-source protocol that leverages blockchain technology to forge a decentralized network for machine learning. This ecosystem facilitates collaborative training of machine learning models, rewarding them in TAO tokens based on the value of the insights they contribute.
Moreover, Bittensor enables external users to tap into this network, drawing out information and steering its functions to suit their specific requirements. The overarching goal of Bittensor is to establish a marketplace for artificial intelligence, fostering a space where AI creators and users can interact seamlessly, without the need for trust, in an open and transparent environment. This approach to AI development and dissemination emphasizes principles like open access and ownership, decentralized control, and worldwide reach in terms of computational resources and innovation, all within an incentive-driven structure.
The Bittensor network is upheld by two primary types of nodes: servers and validators, whose contributions are evaluated based on the value they bring to the network. Nodes that enhance the network's value receive increased stakes in TAO, whereas those providing lesser value are gradually weakened and ultimately removed from the registry.
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