An altcoin project centered around artificial intelligence (AI) and digital commodities has made waves after a surprise listing on Binance, the world’s largest cryptocurrency exchange.
Binance Adds Bittensor (TAO)
Binance announced the official launch of trading services for Bittensor (TAO), triggering a 9% surge in the asset’s value. However, the coin later retreated due to a broader market pullback.
What is Bittensor?
Bittensor is a decentralized blockchain platform that leverages machine learning and AI. It allows users to create digital commodities within separate subnets.
Off-Chain Competitions and Rewards
Subnets, connected to the blockchain but operating off-chain, host competitions where only the best producers of digital commodities are rewarded. These competitions are initiated by subnet validators and contested by subnet miners who strive to produce the highest quality digital goods.
Volatility and Seed Tag
Despite the recent gains, TAO remains below its all-time high. Binance has designated TAO with a “seed tag,” indicating lower liquidity and potential for higher volatility. Users trading tokens with seed tags must complete quizzes every 90 days to acknowledge the risks involved.
