With Bitcoin now in its fourth quadrennial halving, other decentralized projects have adopted similar supply-cut cycles — and Bittensor is approaching its first since launching in 2021.
Bittensor is a machine learning network that’s decentralized and open source, built on specialized machines. “subnets” On or about Dec. 14, the token that will incentivize AI marketplaces is set to experience its first halving. When that happens, the native TAO token (TAOFrom the current 7,200, this will fall to only 3,600 per day.
Grayscale Research analyst William Ogden Moore described the event as a “key milestone in the network’s maturation as it progresses toward its 21 million token supply cap,” Bitcoin (BTCLimitation (fixed limit)
A hard-capped supply is often seen by digital-asset participants and investors as an important value-creator: If token adoption and demand increases, a finite supply model could be more appealing to them than pre-mined fiat currencies or tokens with a virtually unlimited supply.
Cointelegraph reported on Bittensor in May Chris Miglino of DNA Fund, who’s AI compute fund heavily involves in the Bittensor eco-system.
“The biggest thing that we’re working on in the whole ecosystem is our AI compute fund, where we’ve been entrenched into the TAO ecosystem,” Miglino said.
Related: Grayscale introduces Bittensor and Sui trust products
The subnets beneath the Bittensor cliffs
Grayscale describes Bittensor’s Subnets as “a kind” of “Y Combinator for decentralized AI networks,” Since each one operates as a start-up building a product or service specialized.
CoinGecko has over 100 subnets of Bittensor, and a market cap totaling more than $850,000,000. Taostats is a more complete tracking system for the ecosystem. shows There are 129 subnets, with a market capitalization of around $3 billion.
Grayscale Research says that in either case the subnets’ valuations have increased significantly since they were launched. Chutes provides serverless computation for AI models. Ridges, another subnet focusing on crowdsourcing AI agents, is also among the biggest.
This expansion reflects the growing demand for decentralized AI infrastructure Developers are racing to develop and scale AI products and applications.
Miglino said to Cointelegraph decentralized AI might be blockchain’s biggest use case after Bitcoin. It is driven by this demand.
Venture capital is also attracted to Bittensor Subnets. Inference Labs has recently completed a $6.3million round in support of Subnet 2, an Bittensor marketplace that verifies inferences.
xTao is an infrastructure company that builds tools and services to support the Bittensor eco-system. It began trading as a new public company on the TSX Venture Exchange, in July.
Related: VC Roundup Big money, few deals as crypto venture funding dries up
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Source: cointelegraph.com
