Exchange Bittensor (TAO) at the Best Rates

Bittensor (TAO)

Instantly exchange Bittensor at the best price and with the lowest fees on StealthEX. Free from registration, fast, and limitless TAO swaps. You can see for yourself how convenient it is.

Bittensor (TAO) Price Statistics

  • price

    Price (USD)

    $ 292.63
  • supply

    Circulating Supply

    TAO 6.95157M
  • volume

    Volume (24h)

    $ 78.68827M
  • marketcap

    Market Cap

    $ 2.02756B
  • dry

    Low/High 24h

    $ 256.32 - $ 292.58
  • change

    Change (24h)

    $ 4.40

Bittensor (TAO): Protocol for Decentralized Subnets

The cryptocurrency space is abundant with projects that promote machine learning and AI. One of them is Bittensor TAO. Bittensor is a peer-to-peer network that aims to revolutionize knowledge exchange and collaboration. Imagine it as a global brain, with each ‘neuron' representing a machine learning model that is owned by a different individual somewhere in the world. Similar to how neurons in your brain cooperate to enable thought and decision-making, these models work together to digest information and deliver intelligent answers. So how does it work? Let’s take a closer look at Bittensor coin and the protocol’s characteristics.

What Is Bittensor?

Bittensor with its main cryptocurrency token TAO is an open-source protocol that powers a decentralized, blockchain-based machine learning network. In it, machine learning models are trained in a collaborative manner and are rewarded based on the informational value they provide to the group. Moreover, Bittensor provides external access, enabling users to retrieve data from the network and customize its operations to suit their requirements.

The network is made up of thousands of nodes, each of which is equipped with a machine-learning model. These nodes are tasked with processing a large amount of text data and collaborating to extract semantic meaning. The system is intended to discourage fraudulent conduct by rewarding the nodes that generate the greatest value through a consensus method. This process ensures that the digital token reaches parity with the quantity and quality of representational information in the system.

The fundamental principle of Bittensor is decentralization. This network facilitates the training and sharing of machine learning models among diverse populations and over great distances by constructing its infrastructure on a blockchain network. This encourages rapid innovation and idea sharing. A fascinating idea is presented by Bittensor's ecosystem: a peer-to-peer intelligence market. Imagine a vibrant marketplace for intelligence, where learning systems communicate and exchange knowledge directly over the internet, rather than for products or services. This disruptive marketplace exemplifies a new model of democratizing intelligence.

Bittensor’s blockchain is built using the Substrate framework, which is a modular framework that enables the creation of purpose-built blockchains. Another popular blockchain, Polkadot, is also based on the Substrate architecture.

The fundamental ‘pallets’ that Substrate offers can be customized to construct a blockchain that fulfills particular requirements. Because of this, Bittensor is able to create a blockchain that is ideal for its decentralized network of machine learning. Unlike cryptocurrencies like Bitcoin, which use a Proof-of-Work (PoW) consensus method, Bittensor uses a Proof-of-Stake (PoS) mechanism. Depending on how many tokens they own and are prepared to stake as collateral, validators in PoS are selected to build new blocks and validate transactions. In general, this uses less energy than PoW.

Bittensor TAO: Features

For its end users, Bittensor TAO offers a number of unique features, including:

  1. Incentivization. Different members of the Bittensor network are given incentives in the form of TAO tokens. TAO tokens are given to miners in exchange for their computing power, which they use to complete machine-learning tasks. The network's ability to supply compute power is encouraged by this reward system, which is necessary for the decentralized machine learning procedures.
  2. Staking. Users should stake TAO tokens in order to take part in the network as miners and receive rewards. By providing collateral, staking ensures that miners are incentivized to behave in the network's best interests. Additionally, by making it more expensive for any user to act maliciously, it contributes to network security.
  3. Governance. TAO tokens can be used in the governance of the Bittensor network. It is possible for token holders to vote on protocol updates, make suggestions for changes, and take part in other network-affecting decision-making procedures. This is consistent with the decentralized philosophy of blockchain technology, which distributes authority among stakeholders as opposed to concentrating it in the hands of a single entity.
  4. Transaction fees. There may be fees associated with using the Bittensor network for transactions like token transfers and smart contract execution. These fees are used to pay miners and validators for processing and securing transactions on the blockchain. They are normally paid in TAO tokens.
  5. Access to services. It's possible that users using machine learning services from the Bittensor network will have to pay with TAO tokens. As a result, a market for machine learning services is created where tokens are exchanged for computing tasks including prediction, model training, and data analysis.

What Is Bittensor TAO Coin?

TAO, the native token of Bittensor, is used for staking, governance, and as payment for AI services and applications that are developed on the Bittensor TAO network. Users who provide the network with useful data or computing resources are rewarded with TAO tokens. Every 12 seconds, the blockchain is refreshed and new TAO tokens are added to the system. 

Crypto users who provide the network with useful data or computing resources are rewarded with TAO tokens. There are 21,000,000 TAO tokens in total supply. The network known as Kusangi underwent a first iteration that began on January 3, 2021, and was suspended in mid-May to allow for the resolution of certain concerns. On November 21, 2021, block 0 of the blockchain and all 546,113 previously mined TAO were moved to Nakamoto. The Finney Network was launched at the beginning of 2023.

Is Bittensor a Good Long-Term Investment?

Bittensor is essentially a decentralized marketplace for AI services, matching the supply and demand for AI inference while keeping track of transactions using a blockchain-like structure. With a reward structure that promotes the upkeep and development of AI models, it's a community-driven strategy to increase the accessibility of AI. With the growth of AI products, Bittensor can become more widely used and adopted. 

In connection to this, some experts, for instance, DigitalCoinPrice, believe that by 2030, Bittensor TAO coin price is going to go as high as $3,153.65 at its peak, while by 2033 it can reach a staggering $8,182.25 per coin.

How to Buy Bittensor Crypto?

StealthEX is here to help you buy Bittensor crypto. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

Just go to StealthEX and follow these easy steps:

  1. Choose the pair and the amount you want to exchange — for instance, BTC to TAO. 
  2. Press the “Start exchange” button.
  3. Provide the recipient address to transfer your crypto to.
  4. Process the transaction.
  5. Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.

Bittensor Price Chart

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