I didn’t bother to research this project when I first heard of it earlier this year (2023), as AI was in full media hype cycle and it was hard to find the signal in the noise. So, ironically, it was the noise of the Sam Altman/OpenAI headlines these past couple of weeks led me back to researching decentralized AI projects, and it seems the market has found a signal.
Bittensor launched just a couple months ago in September and seemed to benefit from the OpenAI CEO controversy.
I won’t go into architecture or the TAO native token tokenomics, which other reviewers have written about and can be explored in the project whitepaper: https://bittensor.com/whitepaper
It is far too early to analyze TAO’s value based on available data. A case can be made for it being over or undervalued. Over the last two weeks, TAO rocketed past Render (RNDR) to become the top-ranking decentralized AI token according to CoinMarketCap.
What is undeniable is that the public curiosity of a decentralized AI alternative is quickly turning into real demand as the folks realize how much outsized power big tech stands to gain from cornering the market before any smaller, ambitious projects gain traction.
As with most blockchain projects, scalability is a long process with many pitfalls along the way. There are roadmaps and then there is the reality of physical limitations. Perusing the Discord and Telegram communities, it seems like the community is genuinely excited about the project and validators are rather active. One thing is for sure: the internet is quickly getting familiar with this project and decentralized AI is poised to become one of the next big crypto narratives.
https://bittensor.com Show Less
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