Bittensor Emerging Projects to Watch in 2024

2024-02-22

Bittensor Emerging Projects to Watch in 2024 image 0

Bittensor (TAO): Decentralized Internet-Scale AI Market

Category: Blockchain
Market Cap: $3.95B
Token Price: $627.78 / 1939% up from ATL
Project Brief:

Launched in 2019, Bittensor has a clear mission: to revolutionize AI by integrating it with blockchain technology, making AI more scalable and decentralized. At the heart of its vision, Bittensor aims to create "the most powerful intelligence network," while ensuring that the ownership of machine intelligence remains public. Currently, Bittensor operates as a Layer 1 blockchain, hosting an expanding collection of subnets dedicated to executing machine learning inference. This unique design encourages AI researchers worldwide to collaborate, building and training models collectively.

For crypto investors curious about the value of Bittensor's native utility token, TAO, its significance lies in multiple functionalities. TAO grants access to the AI models on the Bittensor platform, entitles holders to voting rights in governance matters, and enables participation in staking activities with the potential for rewards. In terms of tokenomics, TAO is distinguished by its fair launch and a capped total supply of 21 million, of which about 23% is currently in circulation. Echoing Bitcoin's approach, TAO's issuance is structured to include halving events every four years, adding a layer of predictability and stability to its economic model.

Source: Bittensor Official Website

 

OpSec (OPSEC): Decentralized AI-Driven Cloud Computing Platform

Category: Cloud Security
Market Cap: $59.83M
Token Price: $0.5813 / 1437% up from ATL
Project Brief:

OpSec (OPSEC) is committed to enhancing the Web3 environment, focusing on making it more secure, efficient, and resistant to censorship. OpSec, with its bold roadmap, plans to harness AI in driving innovations in areas like private networks, private IP addresses, decentralized cloud storage and servers, and cloud computing. Its product suite, including OpSec Cloudverse, OpSec CloudBot, and OpSec Extension, aims to empower users, builders, and developers in the Web3 space.

Consider the OpSec Cloudverse, which allows users to remotely access and control their blockchain servers via a remote desktop protocol (RDP). Similarly, OpSec CloudBot not only safeguards user data but also aids in the acquisition and management of domains. Collectively, these products provide blockchain builders with the tools needed to deploy projects in a decentralized, secure, and efficient way. Furthermore, OpSec's compatibility and interoperability with existing systems position it ideally to facilitate a smooth transition to an enhanced Web3 ecosystem.

 

Kizuna (KIZUNA): Mascot for Decentralized AI and Memecoin on Bittensor

Category: Memecoin
Market Cap: $41.59M
Token Price: $0.00000004258 / 14683% up from ATL
Project Brief:

Kizuna emerges as the first memecoin on the Bittensor Network, distinguished as a cryptocurrency whose concept and design were generated by decentralized AI. Inspired by the success of Shiba Inu (SHIB) – which soared to a peak market cap of nearly $40 billion in 2021 – Kizuna leverages BitAPAI, a chat prompt AI developed on the Bittensor platform. The creators of Kizuna utilized BitAPAI's capabilities to design this unique memecoin, drawing on insights from Ryoshi's archived blog posts, the brain behind Shiba Inu.

BitAPAI played a pivotal role in formulating every aspect of the Kizuna Token. This includes conceptualizing its name, crafting its distinctive logo, developing its website and manifesto, and even programming its ERC-20 smart contract. The name "Kizuna," which translates to "bond" or "connection" in Japanese, embodies the token's mission to foster strong community bonds and democratize AI technology, reflecting a commitment to collaborative growth and innovation.

 

AIT Protocol (AIT): AI Model Training and Data Annotation on Blockchain

Category: AI Infrastructure
Market Cap: $35.25M
Token Price: $0.6894 / 484% up from ATL
Project Brief:

AIT Protocol (AIT) aims to establish a decentralized, borderless labor market by promoting "Train-to-Earn" activities. This concept allows users to earn cryptocurrency rewards by contributing to AI model refinement. AIT Protocol underscores its potential by referencing the AI application development market's impressive $200 billion valuation in 2022, making the protocol a significant gateway for millions of data labelers into Web3.

The core vision of AIT Protocol is to provide Data-as-a-Service (DaaS) through its decentralized data marketplace, focusing on high-quality training data essential for AI model development. This includes the meticulous labeling, tagging, and annotating of data. Each dataset undergoes a rigorous validation process by experienced data scientists before being offered on the permissionless marketplace, ensuring exceptional quality. Beyond offering data services, AIT Protocol excels in custom AI model training, adapting its techniques to specific client needs in areas such as natural language processing and computer vision.

Source: AIT Protocol White Paper

 

TaoPad (TPAD): Token Launchpad and wTAO Bridge

Category: Launchpad
Market Cap: $11.11M
Token Price: $12.50/ 159% up from ATL
Project Brief:

TaoPad aims to expand the Bittensor network and community, fostering a symbiotic relationship between TAO and TPAD holders. It also distributes rewards in the form of Wrapped TAO (wTAO). The platform welcomes a variety of decentralized AI projects, not just those native to Bittensor.

As the first token launchpad on Bittensor, TaoPad connects projects with early investors. Every user can participate in the platform without restrictions based on TPAD token holdings. During a pre-sale, users allocate a certain number of wTAO tokens to the launch pool. The amount of wTAO allocated reflects the popularity of the project's token during the sale, with its price rising according to the wTAO allocation. TaoPad charges a 10% launch fee on the project's sale proceeds, which is then distributed as a reward to TPAD holders. Additionally, it serves a key function as a cross-chain bridge, facilitating smooth wTAO transfers between Ethereum and Arbitrum. This enhances the platform's utility and user experience.

 

TaoBank (TBANK): Liquidity Provision for TAO

Category: Lending
Project Brief:

TaoBank, a lending protocol tailored for TAO holders, addresses the challenge of maintaining TAO liquidity without the need to sell. It enables TAO token holders to use their assets as collateral for interest-free loans. This process transforms TAO tokens into a more liquid form, allowing borrowers to retain and later reclaim their $TAO ownership. TaoBank has effectively turned TAO from a static asset into a liquid currency. What sets TaoBank apart: its array of financial services, which includes staking, farming, borrowing, and providing collateral.

Focusing on TBANK's tokenomics, of its total 15,000,000 token supply, 20% is currently reserved for pre-sale events on TaoPad. Another 20% is slated to be paired with wTAO post-pre-sale to create a Liquidity Pair. To boost the Ecosystem, 25% is allocated for incentives, encouraging liquidity provisioning of TBANK and taoUSD on CamelotDEX, and 5% for an airdrop to TPAD holders. TBANK holders also have governance voting rights; they can stake their tokens. Marking a successful start, the first TBANK presale round ended on February 17 with a complete sell-out of all 10,000 TBANK tokens, and the second round kicked off on February 20.

 

Tensorplex Labs: Fundamental Infra for Open-Source AI Development

Category: AI Infrastructure
Project Brief:

Tensorplex Labs, closely linked with the Bittensor network, introduces its prime offering, stTAO. This reward-bearing liquid staking token (LST) is designed to enhance the liquidity and economics of TAO by providing users with additional incentives. Notably, stTAO offers EVM compatibility, which simplifies staking for users more familiar with the Ethereum ecosystem than Bittensor. Complementing this, Tensorplex Labs also offers validator services. These services are crucial for ensuring the accuracy and reliability of Subnet outputs. Besides, a portion of the validator fees is used to further support and enhance stTAO.

In a recent development: Tensorplex Labs unveiled "Stream," an alpha-stage Web3 news service. This platform aggregates and curates high-quality podcasts and content from key opinion leaders in the blockchain and cryptocurrency sectors. Venturing further, the organization plans to launch "TPLX-LLM", a large language model tailored for Web3 applications. This model aims to serve a broad spectrum of purposes, from powering AI-driven research platforms to community chatbots and news trading interfaces. It showcases the evolving synergy between AI and Web3 technologies.

Source: Tensorplex Labs Website

 
 
 
Remark: This article includes information sourced from TechFlow.

 

 

 

 

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