BitTensor subnets are disrupting the AI space by providing services at a fraction of the price of traditional AI service providers. The platform’s unique mining model is making AI more affordable and accessible to the world, according to the latest VirtualBacon report.
How BitTensor Subnets Work and Why They’re Cheaper
BitTensor is a blockchain platform that specializes in decentralized artificial intelligence. BitTensor subnets each solve different problems in the AI space, from computer vision to providing the brains for humanoid robots. The platform’s mining model, inspired by Bitcoin, has subnets competing with each other for resources, leading to increased innovation and efficiency on the platform.
As a result of this competition, VirtualBacon says that BitTensor subnets are often able to provide AI products at one-tenth the price of traditional centralized AI service providers. This means that people are now able to access the same AI products and services that would have been much more expensive with centralized AI service providers.
Revenue Growth and Expanding Ecosystem
According to VirtualBacon, the BitTensor subnet ecosystem has an estimated annual recurring revenue of over $65M across all subnets, with that number potentially growing to over $100M by the end of the year. Subnets like Liam, which provide a machine rental service at much lower prices, are growing quickly, and this is a sign that the BitTensor subnet ecosystem is being adopted across a variety of industries.
BitTensor is expanding its ecosystem by integrating and building bridges to other blockchain networks, including Solana, and even to more traditional services like Robinhood. There is even talk of a Grayscale Trust ETF, which would make the platform’s native token, TAO, accessible to traditional investors.
Why Traders Are Watching BitTensor Subnets
Mark Jeffrey, founder of Stillcore Capital, told VirtualBacon that the BitTensor ecosystem is the most promising development in crypto since Bitcoin and Ethereum. He believes that TAO is poised to become one of the most important cryptocurrencies in the years to come, partly because of the platform’s unique economic model, where subnet tokens are simply rehypothecated TAO. This is important because it means that the value of applications and the value of the protocol itself are linked.
Subnet ecosystems like Targon, which provide enterprise private inference services, have raised a significant amount of funds. This means that it is possible to build profitable, real-world businesses in the AI space by building on top of the BitTensor subnet ecosystem. This is in stark contrast to traditional centralized AI service providers and could completely change the way AI services are provided and priced.
This article reflects the channel author’s opinion and is not investment advice.
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