Bittensor (TAO)

"Bittensor is an open-source protocol that operates a decentralized, blockchain-based machine-learning network. The protocol facilitates collaborative training of machine learning models and rewards them in TAO, which is the native currency of the Bittensor network. TAO also grants external access, allowing users to extract information from the network while customizing its activities to their needs. Bittensor aims to create a pure market for artificial intelligence, enabling consumers and producers of this valuable commodity to interact in a trustless, open, and transparent context.

Bittensor provides a novel, optimized strategy for developing and distributing artificial intelligence technology by leveraging the potential of a distributed ledger. The protocol enables open access/ownership, decentralized governance, and the ability to harness globally distributed computing power resources and innovation within an incentivized framework. Bittensor distributes rewards and network ownership to users in direct proportion to their added value. Moreover, Bittensor's open-source repository of machine intelligence is accessible to anyone, anywhere, thus creating the conditions for open and permission-less innovation on a global internet scale.

Bittensor's native currency, TAO, has a fair launch, with no tokens pre-mined. Currently, every 12 seconds (one blockstep), a single TAO emits into the network. The supply of TAO is 21,000,000, and there is a halving cycle such that for every 10.5 million blocks, rewards per block halve. There will be 64 halving events, with the first occurring in August 2025. The current supply and block number can be viewed on the Bittensor network."