Coincheck – TAO – 23rd Sept 2024
By Abhishek Chauhan
The Coin for the day is: TAO
It’s current price is around 550$ and is sitting at a Market Cap of 4Bn with a FDV of 11.5Bn making it ranked 25th by Market Cap and is up 20% in the last 24Hrs & 84% in the last week
So what exactly is TAO? ( Use Website Scroll )
Bittensor is an open-source protocol that utilizes blockchain technology to create a decentralized machine learning network. This network enables machine learning models to train collaboratively and be rewarded in TAO according to the informational value they offer the collective. Additionally, Bittensor’s TAO grants external access to users, allowing them to extract information from the network while tuning its activities to meet their needs. The ultimate vision of Bittensor is to create a market for artificial intelligence, allowing producers and consumers of this commodity to interact in a trustless, open, and transparent context. Bittensor provides a novel strategy for developing and distributing artificial intelligence technology, promoting open access/ownership, decentralized governance, and global access to computing power and innovation within an incentivized framework.
The Bittensor network operates using two types of nodes, servers and validators, with assessments based on the value of their responses. Nodes that add value to the network are rewarded with more stake (TAO), while low-value nodes are weakened and eventually de-registered.
Okay, so your next question might be about the fundamentals of the project, is this a good coin or not?
Barry Silbert, CEO of Digital Currency Group (DCG), recently showed his interest in Bittensor over social media.
However, Grayscale investments had already made their move toward TAO, suggesting something special coming up for the token.
Kamala Harris made her first public comments on the subject of crypto during a fundraising event. Harris pledged to “encourage innovative technologies like AI and digital assets
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