TL;DR
- Idea: Decentralized machine learning network token powering global AI compute and inference market on blockchain
- Catalyst: Upcoming Dynamic TAO protocol upgrade, EVM integration, first TAO halving, strong VC backing
- Risks: High market cap with emission inflation, past security incidents, adoption challenges
- Score: 7.00/ 10
Coin
- Name/ Ticker: Bittensor (TAO)
- Segment: AI Infrastructure
- Status: live
- Price: $332.830000
Key Metrics
- Market Cap: $3 181 031 713
- FDV: $6 986 400 073
- Circulating Supply: 9 561 672
- Total Supply: 21 000 000
- Inflation: 12.51%
Sources
Technology
- USP: First decentralized blockchain protocol enabling permissionless collaborative machine learning with token incentives
- Core Technology: Blockchain-based network where miners and validators collaborate to train, validate, and access AI models in a trustless, incentive-driven environment
Roadmap
- 2024-11-27: Mainnet launch
- 2025-01-09: Dynamic TAO Testnet release
- 2025-02-13: Dynamic TAO Mainnet release
- 2025-11-25: Permissioned EVM feature release
- 2025-11-16: First TAO halving
Team & Investors
Team
- CEO β Jacob Robert Steeves: Machine Learning Researcher at Knowm Inc.; Software Engineer at Google; Co-founder of Bittensor
- COO β Ala Shaabana: PhD in Machine Learning; Co-founder of Bittensor
- CTO β Ibraheem Opentensor: Lead contributor to Bittensor SDK; active GitHub maintainer
- Lead Developer β Roman Opentensor: Core SDK developer; contributed to Bittensor SDK enhancements
- Documentation Engineer β Raj Karamchedu: Maintainer of Bittensor documentation; contributor to SDK tests
Investors
- Polychain Capital β incubation β’ $200.00M
- Dao5 β seed β’ $50.00M
- Digital Currency Group β strategic β’ $100.00M
Total funding: $350.00M
Tokenomics
- Utility: Staking, governance, and accessing AI inference and training markets
Pros & Cons
Strengths
- Decentralized AI training and inference network
- Strong venture capital backing from Polychain, DCG, Dao5
- Highly active open-source development community
- Upcoming Dynamic TAO protocol upgrade introducing subnet tokens
- EVM integration for broader smart contract support
- Liquid staking ecosystem via Tensorplex with real USD TVL
- Distributed computing incentivization fosters innovation
Weaknesses
- High market cap leading to increased competition and expectations
- Significant token emission inflation risk until halving
- Historical security incidents with past token thefts
- Complex setup may deter non-technical users
- Limited mainstream adoption beyond AI research community
- Dependency on successful execution of upgrades like dTAO and EVM integration
Market Signals (7d)
- TVL trend: stable
- CEX volume trend: decreasing
- Active addresses trend: unknown
Price Scenarios (target: 2026-02-03)
How to Buy & Store
CEX
- Binance
- Coinbase
- KuCoin
- Kraken
- Bitget
DEX
- Uniswap v3
- 1inch
- SushiSwap
- TAO.BOT
- Balancer
Storage
- Ledger
- Trezor
- MetaMask
- Trust Wallet
- Talisman
Verdict
Bittensor presents a novel decentralized AI infrastructure with strong VC backing and upcoming protocol upgrades, but faces execution risks, inflation, and adoption challenges. High risk-adjusted promise merits a speculative allocation.
Official Links
Source: Coin Research (internal)
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