Bittensor is a platform that combines artificial intelligence and cryptography. It has a consensus mechanism that aims to deter malicious activity among servers in the network [6]. According to the information available on taostats.io, after the successful launch of the Finney network in mid-February 2023, users will be able to delegate a stake to any validator for a share of the validation rewards [3].
A fixed commission of 17.99% will be applied to all delegations, enabling holders of the TAO token to earn passive rewards, regardless of the size of their holdings. The goal of the platform is to distribute the stake to peers who have helped minimize a loss-objective, represented by a stake-weighted machine learning objective [4].
Bittensor appears to be an open-source protocol that powers a decentralized, blockchain-based machine learning network. According to Coinmarketcap.com [5], machine learning models train collaboratively and are rewarded in TAO according to the informational value they offer the collective, and TAO grants external access, allowing users to extract information from the network while tuning.
Bittensor AI
It has won the 36th auction of Polkadots and is expected to bring artificial intelligence to its diverse ecosystem of use cases [2]. Bittensor is currently focusing on building its network and training its models to prove their capabilities [4]. The Bittensor network can be queried as a client, and its python API is available on Github [3].
Bittensor.exchange is an electronic service owned and operated by a British Virgin Islands corporation, Bittensor.exchange, and is intended for use only by individuals 18 years of age or older [6]. The Bittensor GitHub repository contains scripts to install the software and can be used to contribute to its development [9]. Bittensor explorer is a network explorer of the Bittensor network. [2] states that it is a network map of 4096 reachable nodes in the Bittensor network. The explorer requires JavaScript to run the app. [1]
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Antminer HS3$4,500.00 -
Antminer K7$4,500.00 -
Antminer KA3 Miner (166Th)$7,500.00
Bittensor Staking
There is a staking calculator for Bittensor called “Tao Staking Calculator” available on taostats.io [3]. According to the website, you can calculate the staking returns by entering the Tao quantity and price. The calculator shows the daily, monthly, and yearly staking returns in dollars and Tao [3].
However, it’s not a mining calculator like the ones for Bitcoin on websites such as Coinwarz [10] or Cryptocompare [7]. The network is comprised of 4096 miners and each time a new hotkey is registered, the lowest ranked miner is kicked off the network [2]. The process of registering a miner is described in the “Miner Preparation” section of the Bittensor documentation [1].
The Bittensor API, available on GitHub, can be used to run and build TAO miners/validators for mining TAO, manage TAO wallets, balances, transfers, etc. [5]. The bittensor.com website states that their aim is to disrupt the status quo of a system that is centrally controlled, inefficient, and unsustainable [7]. The bittensor.exchange website, including its mobile applications, is an electronic service owned and operated by Bittensor.exchange, a British Virgin Islands corporation, and is intended for use only by individuals 18 years of age or older [8].
The btcli overview command can be used to monitor miner performance and includes details such as the user’s UID, state (active or inactive), stake, rank, trust, consensus, incentive, dividends, and emission [10].
Bittensor Where To Buy
Bittensor is a blockchain-based machine learning network that uses an open-source protocol. It uses a cryptocurrency called TAO as a reward for the machine learning models that train collaboratively on the network [2]. Currently, the only way to buy TAO is by swapping it with Bitcoin or USDC on a third-party exchange, or OTC (over-the-counter) on the Bittensor Discord [6]. There are no Bittensor exchanges where you can trade TAO with fiat or other cryptocurrencies [8]. The recommended exchange to trade TAO is Binance, but as of the current date, TAO tokens have stopped trading and there is no market activity [10].
Bittensor Mining Profitability
BitTensor is a decentralized, blockchain-based machine learning network that rewards machine learning models with TAO tokens according to their informational value to the network. The network is designed to provide incentives to miners to provide value and contribute to the network. BitTensor also offers a Python API that can be used to query the network, run and build miners and validators, pull network state information, and manage TAO wallets, balances, and transfers. [7].
According to one source, the BitTensor network is seen as an attractive investment opportunity due to its highly skilled team, simple yet ingenious idea, fair launch, and token utility. [2].
The BitTensor network requires GPU mining, which is made more difficult due to the high cost of AI technology. [3]. Information on how to begin mining on the network can be found in the TAO documentation, which guides users through basic customizations that can be made to their miner to increase its success in the network. [5].
The profitability of mining with TAO has not been specifically mentioned in the provided sources. However, as with any mining operation, the profitability will depend on various factors such as the cost of electricity, the value of the cryptocurrency being mined, and the hash rate of the mining equipment. [8].
Bittensor How to Mine
BitTensor is a decentralized neural network that utilizes blockchain and machine learning technology. It aims to streamline the process of building and deploying large-scale AI models. To mine TAO, you must first be connected to a registered hotkey. According to the documentation [1], “Every running miner must be connected to a registered hotkey. This code will specify which coldkey (wallet) you wanted to use, as well as the corresponding hotkey.” You can specify the port you want to access the network through as well.
It is noted that the network is comprised of 4096 miners, and each time a new hotkey is registered, the lowest ranked miner is kicked off the network [2]. According to the information, registering will utilize your CPU, but a GPU is often a minimum requirement to register, depending on the current difficulty.
It is advised to check the electricity cost in your region before starting to mine, as some users have expressed concern about the high electricity consumption of the process [5].
The TAO API can be used to run and build TAO miners and validators for mining TAO [3].