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  • Writer's pictureBig Data Ben

AI Cryptocurrencies Dominate Market, Lead by Bittensor (Tao)

February 3, 2024

If you are interested in artificial intelligence (AI) and cryptocurrencies, you might want to pay attention to this exciting news. The market value of 81 different AI-related digital coins has increased by more than $1 billion in just 12 days! This means that more people are investing in these tokens, which are used to support AI projects and applications on the blockchain.

One of the most impressive performers is bittensor (TAO), which has grown by 31.6% in the past week. Bittensor is a project that wants to make artificial intelligence better and fairer for everyone. It does this by creating many different markets, called subnets, where people can share and use AI models in a way that is not controlled by big companies or governments. Bittensor uses a digital currency, called TAO, to reward people who join these subnets and help improve AI. Bittensor also uses a system, called blockchain, to make sure that everything is done in a transparent and secure way.

Subnets are the core of the Bittensor ecosystem. Each subnet has its own incentive mechanism, which defines the problem that the subnet tries to solve and how the quality of the solutions is measured. For example, one subnet might be about generating text prompts, another might be about indexing the web, and another might be about machine learning. People who participate in subnets, either as miners or validators, use the Bittensor API to connect to the blockchain and to each other. The blockchain then uses a consensus mechanism, called Yuma, to distribute the rewards in TAO tokens. Bittensor's goal is to build the most powerful and democratic AI network in the world.

Other notable AI coins include the graph (GRT), which is an indexing protocol for the Web3, fetch (FET), which is a platform for decentralized machine learning, and singularitynet (AGIX), which is a marketplace for AI services. These coins have different purposes and features, but they all share a common vision: to make AI more accessible, transparent, and collaborative.

The rise of AI cryptocurrencies shows that there is a lot of potential and innovation in this field. AI and blockchain are two of the most cutting-edge technologies of our time, and they can work together to create amazing solutions for various problems and opportunities. If you want to learn more about AI cryptocurrencies, you can check out the source article below. And remember, always do your own research before investing in any digital asset.

I hope you find this article helpful and informative. Thanks for reading and stay tuned for more of the latest news in artificial intelligence!

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