Bittensor (TAO)

Statistics
Volume | 238191554.16 |
Marketcap | 3245384045.64 |
Avail. Supply | 8215232.00 |
Total Supply | 8215232.00 |
Price of TAO Today – IT dynamic data
Lowest Price (May 14, 2023): $30.40
Highest Price (March 7, 2024): $767.68
In the first year of available data, TAO’s price closed at $266.66, representing a staggering 211,313% increase from the open.
TAO to Local Currency – IT dynamic data
About Bittensor
What is Bittensor (TAO)?
Bittensor is a system that uses blockchain technology to create a network where people can work together to build and improve AI (artificial intelligence). Participants can share their computing power and AI models with the network and, in return, earn TAO tokens.
Who Founded Bittensor?
Jacob Steeves is the CEO and co-founder. His background includes experience in machine learning research and working at Google before focusing on Bittensor.
Ala Shaabana holds a Ph.D. in machine learning and co-founded Bittensor alongside Steeves. He will likely play a key role in the technical aspects of the project.
What Makes Bittensor Unique?
- Instead of being controlled by one company, Bittensor is run by a community of users.
- Users get TAO tokens as a reward for helping out with their computing power and AI models.
- Different AI models can work together and improve each other on this network.
- Anyone can use the resources and tools on Bittensor, making advanced AI technology available to more people.
- The network can grow and handle more users and data as needed.
What is TAO Used For?
It is used for rewards, governance, transaction fees, and access:
- People earn TAO tokens for contributing to the network.
- TAO token holders can vote on decisions about how the network is run.
- TAO is used to pay for transactions within the network.
- Some features and services on the network may require TAO tokens to use.
Bittensor Network Security
Bittensor secures data and transactions with encryption, allowing only authorized users to access sensitive information. Digital signatures ensure that only genuine contributions are recorded on the blockchain.
The reward system uses TAO tokens to encourage honesty so users earn tokens for positive actions and face penalties for malicious behavior, promoting security.
Bittensor is always monitored for suspicious activities, with regular security audits to fix any issues in protocols and smart contracts.
To ensure trustworthy users, Bittensor may require identity verification. A reputation system rewards consistent, positive behavior, boosting security.
The network's decentralized governance lets TAO token holders vote on key decisions, ensuring fair and effective updates.
Lastly, Bittensor uses data redundancy and backup systems when data is stored on multiple nodes, staying accessible even if some go offline. Regular backups help restore the system quickly if needed.
Bittensor Markets – IT dynamic dat
How to Buy TAO?
Choose an Exchange. Find a cryptocurrency exchange that sells TAO tokens. Look for popular ones like Binance or Coinbase.
Create an Account. Sign up on the exchange and complete any required identity verification.
Deposit Money. Add money to your exchange account using a bank transfer, credit card, or cryptocurrency.
Buy TAO. Go to the trading section of the exchange, find TAO, and place an order to buy the amount you want.
Store Your TAO. Move your TAO tokens to a secure wallet, like a hardware wallet, to keep them safe.
How to Mine TAO?
- Get a powerful computer or a rig with a strong GPU or CPU for AI computations.
- Download and install the official Bittensor mining software.
- Connect your hardware to the Bittensor network following their instructions.
- Begin mining by running the software, which will use your computer’s power to help train AI models.
- As you mine, you will earn TAO tokens as rewards for your contributions.
- Regularly check and improve your mining setup to increase efficiency and earn more TAO.
Bittensor Investment Risks
Technology Risks
Bittensor is based on advanced technology that is still evolving. Unexpected technical issues or vulnerabilities could affect the network's functionality and security.
Adoption and Usage
The success of Bittensor depends on widespread adoption and active participation in the network. If the project fails to attract sufficient users and contributors, the value of TAO tokens could decrease.
Competition
Bittensor operates in a highly competitive space with many other AI and blockchain projects. Strong competitors could capture market share or offer superior technology, potentially diminishing Bittensor's relevance.
FAQ About Bittensor Price
What is the current price of Bittensor?
You can check the live price of TAO on major cryptocurrency platforms or charts.
What was the lowest price of TAO?
The lowest recorded price for TAO was $30.40 on May 14, 2023.
What was the highest TAO price?
The highest price of TAO was $767.68, recorded on March 7, 2024.
How has Bittensor's price changed?
TAO saw big price changes, including a 211,313% increase in its first year, with prices ranging from $30.40 to $767.68.
What influences Bittensor's price?
Bittensor's price is influenced by market demand, network adoption, and participation in the AI network.