What is Bittensor TAO? Must-Have Crypto in 2024

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Bittime - The field of artificial intelligence (AI) is growing rapidly with collaboration and efficient production. Bittensor addresses this need by creating a decentralized network where users can contribute to and benefit from a collective collection of machine learning models.

Revolutionizing AI Production

Traditionally, AI research and development has faced limitations due to centralized control, waste, and high barriers to entry. Bittensor addresses this problem by delivering a permissionless, decentralized, and incentivized network. This allows Bittensor to:

Collaborative Knowledge Sharing

In a network, all knowledge and resources are shared openly, encouraging collaboration and innovation.

Monetization Opportunities

Researchers can monetize their unique AI models, while consumers gain access to diverse solutions, potentially applicable to a wider range of purposes.

Reducing Barriers to Entry

This model offers a more accessible platform for researchers and enthusiasts to contribute to the advancement of AI.

How Bittensor Works

Users can submit their machine learning models to the network. These models are then tested, trained, and ranked by another neural network within Bittensor. A ranking system determines a model's value, which is recorded in the network's digital ledger. Highly ranked models are rewarded with increased influence within the network, which further encourages contributions.

TAO Token: Running the Ecosystem

TAO acts as the native currency in the Bittensor network, used for various purposes, including the following.

• Purchasing Access: Users need TAO to purchase access to the diverse set of machine learning models available on the network.
• Rewarding Contributors: Bittensor uses TAO to reward miners, validators, and researchers who contribute new models to the network, encouraging participation and growth.
• Tokenomics: Similar to Bitcoin, TAO has a limited supply of 21 million tokens and undergoes a four-year halving cycle, contributing to its value proposition.

Bittensor's Journey and Future Potential

Founded in 2019, Bittensor launched its network and native token, TAO, in 2021. The TAO token has shown promising signs of adoption, currently trading at $288 after hitting an all-time high of $395. Technical analysis shows the potential for a bullish trend reversal, with support coming from the 50 Day EMA and bullish signals from the RSI indicator. TAO's price target, based on this analysis, is $353.

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Looking ahead

Bittensor's focus on decentralization and collaboration brings a unique approach to AI development. As the network continues to grow and attract diverse contributions, it has the potential to democratize AI access, drive innovation, and accelerate the evolution of this transformative technology.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn  Complete Guide How to Buy Crypto on Bittime .  

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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What is Bittensor TAO? Fundamental Analysis & Technical Analysis of Bittensor TAO Price in Rupiah

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.