Exchange Bittensor (TAO)

Bittensor is a decentralized artificial intelligence (AI) network that aims to provide a platform for developers to train, deploy, and monetize AI models. It operates on blockchain technology, specifically utilizing cryptocurrencies, to facilitate transactions and interactions within the network.

The primary goal of Bittensor is to create a decentralized ecosystem where AI models can be trained and deployed securely, while also enabling developers to earn rewards for contributing computational resources or developing applications on the platform. This incentivizes participation and collaboration within the network.

Bittensor employs various cryptographic techniques and consensus mechanisms to ensure the integrity and security of its operations. It also leverages concepts from machine learning and distributed computing to optimize the performance and scalability of AI models running on the network.

Bittensor achieves this vision through several key mechanisms:

• Implementing a groundbreaking approach to developing and disseminating AI technology by leveraging distributed ledger technology capabilities. This involves enabling open access and ownership, decentralized governance, and utilizing globally distributed computing resources and innovation within a system of incentives.
• Creating an open-source repository of machine intelligence that is accessible to individuals worldwide, fosters an environment conducive to unrestricted innovation on a global scale via the internet.
• Ensuring fair distribution of rewards and network ownership directly corresponding to the value contributed by users. This incentivizes active participation and contributions to the network's growth and development.

The Bittensor network comprises nodes, also known as miners, actively engaging in the protocol. Each node operates Bittensor client software, facilitating its communication with other nodes within the network.

Upon registration, a node integrates into a subnet, constituting a distinct domain or subject area within the Bittensor network. Each subnet features its array of registered nodes alongside their associated machine-learning models.

Critical to the Bittensor network, validators undertake the pivotal task of authenticating responses and forecasts furnished by miners. Upholding the integrity and caliber of data and models exchanged within the network, validators meticulously scrutinize miners' responses, evaluating their accuracy and dependability.

As essential intermediaries and gateways to the Bittensor network, validators assume a fundamental role in facilitating interactions and furnishing a user and application interface.

Within the Bittensor network, miners furnish machine-learning services by hosting and dispensing local machine-learning models. When a client application necessitates a forecast, it dispatches a request to the Bittensor network, which then directs the query to a miner registered as a provider for the requisite service. Subsequently, the miner processes the request employing its locally-stored machine-learning model and dispatches the forecast back to the client via the Bittensor network.

The Bittensor network employs a token-based economy to incentivize engagement and contributions. Miners and validators receive tokens as rewards for their computational resources, precise predictions, and other beneficial inputs to the network. These incentives stimulate active involvement and contribute to upholding the network's stability and efficiency.

The consensus mechanism of the Bittensor cryptocurrency revolves around rewarding valuable nodes within the network, employing a sophisticated incentivization model rooted in game theory principles. Central to this mechanism is the utilization of the Shapley Value, a concept borrowed from cooperative game theory. The Shapley Value assigns a value to each machine-learning model based on its marginal contribution to the overall prediction accuracy and collective intelligence of the network.

Known as Proof of Intelligence, this consensus mechanism diverges from traditional Proof of Work (PoW) and Proof of Stake (PoS) methods used in blockchain networks. Instead of solving complex mathematical problems, nodes are tasked with performing machine learning tasks to demonstrate their intelligence. The more accurate and valuable a node's machine learning output, the greater its likelihood of being selected to add a new block to the chain and receiving rewards in the form of TAO tokens.

In the Bittensor context, the Shapley Value serves as a crucial metric for determining the contribution of each model to achieving consensus and making accurate predictions. It considers the collaborative nature of the network, where models interact and exchange information to enhance their collective performance. During the scoring process, models are evaluated based on their individual predictive capabilities, insights provided, and alignment with the consensus reached by other models.

Bittensor employs a decentralized mixture of experts (MoE) model, harnessing the power of multiple neural networks to address complex problems. Each expert specializes in a specific aspect of the data, collaborating to generate a collective prediction that surpasses the capabilities of any individual expert. This approach enables Bittensor to achieve higher prediction accuracy and handle larger volumes of data, providing more precise and comprehensive responses compared to relying on a single model.

In the Bittensor ecosystem, TAO tokens hold intrinsic value as they represent the intelligence and knowledge contributed by developers. Each TAO token mirrors the efforts and quality of models created by developers. Beyond being just a form of currency, TAO embodies the collective intelligence and insights shared within the network.

The total supply of the Bittensor tokens is 21 billion, and as of February 1, 2024, the circulating supply is 

The Average Fees on the Bittensor Network 

Bittensor is primarily focused on incentivizing participation and contributions through its token-based economy rather than relying on transaction fees.

The TAO token wallets 

The TAO token can be held in one of the following crypto wallets: Polkadot JS Wallet, Bitget, MetaMask, KuKoin, Bittensor Wallet, Math Wallet, Coinbase, Uphold, etc.