1. Project introduction

Bittensor is a peer-to-peer intelligence market.

Bittensor is a mining network, similar to Bitcoin, that includes built-in incentives designed to encourage computers to provide access to machine learning models in an efficient and censorship-resistant manner. These models can be queried by users seeking outputs from the network, for instance; generating text, audio, and images, or for extracting numerical representations of these input types.

Under the hood, Bittensor’s economic market, is facilitated by a blockchain token mechanism, through which producers (miners) and the verification of the work done by those miners (validators) are rewarded. Miners host, train or otherwise procure machine learning systems into the network as a means of fulfilling the verification problems defined by the validators.

2. Team introduction

Co-Founder: Jacob Robert Steeves https://www.linkedin.cn/incareer/in/jacob-robert-steeves-7b0629b8/

Co Founder: Ala Shaabana

https://www.linkedin.cn/incareer/in/ashaabana/

3. Application and distribution

Token application:

The native currency, TAO, constitutes both reward and access token to the network.

Token distribution:

The total supply of 21 million is pre-programmed. A block is mined about every 12 seconds, rewarding the miners and validators with 1 TAO per block. At the current inflation schedule this leads to 7200 new TAO being issued into circulation every 24 hours which is currently split evenly between miners and validators.