Bittensor

Bitcoin

Show

<p>Crypto analyst The Smart Ape has compared Bittensor<a href="https://captainaltcoin.com/why-is-bittensor-tao-price-up-analyst-predicts-rally-to-3-5k-range/" target="_blank" rel="noopener noreferrer nofollow"> (TAO)</a> and Bitcoin (BTC). He suggests that TAO could be viewed as a supercharged version of the leading crypto.&nbsp;</p>
<p>The analyst’s findings, based on a review of Bittensor’s whitepaper, highlight similarities in structure and potential for growth between the two digital assets.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24TAO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TAO</a> is like <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> on steroids!<br><br>Spent my weekend diving into the whitepaper and found some mind-blowing stuff!<br><br>Four-digit is just a matter of time, here’s the breakdown of what you need to know <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f53d.png" alt="🔽" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/UtKMaqD0EM" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/UtKMaqD0EM</a></p>— The Smart Ape <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@the_smart_ape) <a href="https://twitter.com/the_smart_ape/status/1835674497359450458?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 16, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="strong-bittensor-s-decentralized-ai-platform-strong"><strong>Bittensor’s Decentralized AI Platform</strong></h2>
<p>Bittensor is a decentralized application that utilizes blockchain technology to allow the development and sharing of artificial intelligence models. The network provides participants with TAO tokens as compensation for their efforts in the ecosystem.&nbsp;</p>
<p>At its essence, Bittensor comprises subnets that serve as decentralized marketplaces where <a class="wpil_keyword_link" href="https://captainaltcoin.com/best-ai-crypto-projects/" title="AI" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">AI</a> models compete to execute diverse tasks, such as text production or picture recognition.</p>
<p>These subnets are independent entities that can be created by anyone, contributing to the growth and development of the AI sector within the Bittensor ecosystem. The flexibility of subnets allows for variations in size, code, and functionality, adapting to different needs and use cases.</p>
<h2 class="wp-block-heading" id="strong-similarities-and-differences-with-bitcoin-strong"><strong>Similarities and Differences with Bitcoin</strong></h2>
<p>The Smart Ape points out several key similarities between Bittensor and Bitcoin. Both operate on a Proof of Work consensus mechanism and have a maximum supply of 21 million tokens. Additionally, both cryptos incorporate halving cycles every four years to reduce the rate of new token issuance.</p>
<p>However, a notable difference lies in energy utilization. While <a href="https://en.cryptonomist.ch/2024/09/17/bitcoin-mining-news-the-kingdom-of-bhutan-owns-780-million-dollars-in-btc/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin mining</a> often results in wasted energy for unsuccessful miners, Bittensor redirects all consumed energy towards powering AI models on its network. This approach potentially makes TAO more energy-efficient compared to its predecessor.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/solana-sol-bulls-could-charge-toward-new-ath-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Solana (SOL) Bulls Could Charge Toward New ATH, But There’s a Catch</em></strong><br></a></p>
<h2 class="wp-block-heading" id="strong-market-performance-and-future-outlook-strong"><strong>Market Performance and Future Outlook</strong></h2>
<p>The analysis by The Smart Ape reveals that Bittensor’s GitHub activity exhibits robust community involvement, as seen by the presence of thousands of daily reviews. Reports indicate that the number of developers involved in the project has remained consistent, even in the face of price swings.&nbsp;</p>
<p>Furthermore, the analyst observes that the <a href="https://www.coingecko.com/en/coins/bittensor" target="_blank" rel="noopener noreferrer nofollow">TAO token</a> has seen demand, as evidenced by an average daily trading volume of $300 million.</p>
<p>In its analysis of the possibility for substantial price increase, the Smart Ape highlights the alignment of TAO with the expanding AI narrative and its contribution to the decentralization of AI processing capacity.&nbsp;</p>
<p>The analyst establishes a comparison between the present stage of Bittensor and the early years of Bitcoin, with the suggestion that TAO may see a comparable path of expansion and acceptance.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-bittensor-tao-like-bitcoin-on-steroids/" rel="noopener noreferrer nofollow">Why Is Bittensor (TAO) Like Bitcoin ‘On Steroids’</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Bittensor (TAO) Like Bitcoin ‘On Steroids’

Table of Contents

CaptainAltcoin

Other articles published on Sep 17, 2024

Unravel the Potential of the TON Coin Ecosystem

🗒 Daily Newsletter | Tuesday, September 17, 2024

Gold’s unstoppable rally hits new highs, while Bitcoin remains flat

Michael Saylor's MicroStrategy to Issue $700M in Senior Convertible Notes to Buy More Bitcoin

Weekly Article Recap: 9/02-9/06

What Is the Telegram-Based Catizen Game?

Join our free newsletter for daily crypto updates!