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Bittensor is a decentralized peer-to-peer network for machine intelligence. The Bittensor protocol establishes a marketplace that transforms machine intelligence into a tradable commodity.
Bittensor is introducing an infrastructure comprising the Route Network and Subnets, each playing an important role in distributing incentives and governing interactions within the network.
The Yuma consensus is a groundbreaking consensus mechanism that has been developed by the Bittensor Network.It is a decentralized, peer-to-peer consensus algorithm that allows for the distribution of computational resources across a network of nodes.
The Bittensor network architecture consists of nodes, subnets, and validators.
Subnets- Subnets are competitive and only 32 subnet slots exist in the Bittensor network. Subnets exist to produce decentralized intelligence. Each subnet is an incentive-based competitive market in action, to produce the best decentralized intelligence. Entities in the subnet, called subnet miners, each perform a useful task. Rewards are given in the form of TAO tokens.
Validators- Separate entities in the same subnet, called subnet validators, each independently evaluate the task performed by the subnet miners.
Bittensor rewards miners, subnet owners, and delegators, with an intricate reward distribution governed by the Yuma Consensus, emphasizing collective scoring and adaptive rewards based on performance.
TAOUSD was one of the best performers the previous week.
Any weekly close above $800 confirms further bullishness.
TAOUSD surged more than 80% in the past three weeks. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a low of $195 and is currently trading around $327.80.
The bullish invalidation can happen if the pair closes below $180. On the lower side, the near-term support is $300. Any break below targets are $275/$258/$200. Any breach below $180 targets $150.
The pair's near-term resistance is around $365. Any breach above confirms minor bullishness. A jump to $$400/$500 is possible. A surge past $500 will take it to $650.
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It is good to buy on dips around $300 with SL around $255 for TP of $500.
