Bittensor (TAO) Rallies Further Following Vitalik Buterin’s Insightful Article
Bittensor (TAO) has put in another 11% in gains over the past 24 hours after it had already rallied 75% over the past few weeks. In fact, only on January 24, TAO was trading at USD $252 (AUD $379), a huge difference to the current price tag of USD $470 (AUD $715).
The rally comes after Ethereum Co-Founder Vitalik Buterin mentioned TAO in a recent article about artificial intelligence and crypto, titled The promise and challenges of crypto + AI applications.
In it, Buterin categorises the intersection between both fields into four areas: AI as a player in blockchain-based games, AI as an interface for understanding crypto environments, AI as a rule enforcer in blockchain mechanisms, and AI as the objective of blockchain systems.
Buterin writes that Bittensor plays a role in the context of using cryptographic techniques to create trustworthy, decentralised AI systems. Unlike fully encrypted AI models, Bittensor focuses on using crypto incentives to improve AI without the extensive use of cryptography for encryption.
The article has been shared on social media and has created a bit of a buzz, which is understandable because Vitalik is such an influential figure in crypto.
What Is Bittensor And How Is It Different?
Apart from the recent hype coming with the article, Bittensor appears to have a strong community and solid fundamentals.
Still confused about what Bittensor is trying to do? Recently, a user named spacexbt wrote a comprehensive post on X summarising it. Basically, Bittensor is a decentralised network where individual miners contribute their Machine Learning models.
It operates like a town where each resident (model) offers unique skills. Work is distributed across various machines, not centralised in one computer. Users query the network, and the best answer from these models is rewarded with TAO tokens.
Miners stake TAO to participate, influencing network governance. Unlike Bitcoin, which focuses on financial transactions, Bittensor uses TAO for computing power in AI tasks.
Essentially, combining AI with blockchain, Bittensor aims for a fair, open, and transparent system, potentially making TAO a standard in AI transactions globally.