In this episode of Hash Rate, Mark Jeffrey sits down with Stefan and Will from Macrocosmos to discuss the significant DAOW launch within the BitTensor ecosystem. They explore the technical achievements, emission dynamics, and the diverse functionalities of five key $TAO subnets, providing valuable insights for both researchers and industry professionals.
DAOW Launch and Its Impact on BitTensor Ecosystem
- “Everything was beautiful and nothing hurt that kind of captured the feeling of making it through the eye of the needle.”
- The DAOW launch was executed flawlessly, earning high praise from participants.
- Immediate and high participation in subnets exceeded expectations, indicating strong community support.
- The successful launch reshaped BitTensor’s dynamics, prompting strategic shifts among stakeholders.
Technical Execution and Foundation's Role
- “Upgrading a blockchain like that with that amount of new technical complexity is insanely hard right you’re redoing the plane while it's flying.”
- The foundation demonstrated exceptional technical competence during the DAOW upgrade.
- Seamless execution prevented potential major disruptions, enhancing trust in the foundation.
- Communication around the technical changes lacked clarity, highlighting an area for future improvement.
Emission Dynamics and Subnet Participation
- “The foundation decided to go for one over 64 so it leveled the playing field.”
- The emission strategy effectively prevented early adopters from holding disproportionate advantages.
- Subnet participation surged swiftly, reflecting high engagement and investment in the network.
- The concentration of capital in top subnets risks centralization, which could undermine network decentralization.
Subnets Overview: Functionality and Use Cases
- “Subnet 25 had 20% more compute and folded proteins than Folding at home.”
- BitTensor’s subnets support varied AI tasks, including data scraping and protein folding, demonstrating platform versatility.
- High performance of subnets like subnet 25 showcases the potential to surpass traditional decentralized projects.
- Continuous development aims to integrate the entire AI pipeline on-chain, enhancing the ecosystem's robustness.
Marketing Strategies and Challenges for BitTensor
- “We’ve got stuff we're about to start selling and that’s not our token to people or a story about how we’re buying back Revenue before we actually got revenue.”
- The team is increasing marketing efforts to align with upcoming product launches and enhance visibility.
- Simplifying complex subnet functionalities is crucial to attract a wider audience beyond crypto enthusiasts.
- Strategic marketing initiatives are essential to balance technical development and user adoption amidst a crowded crypto landscape.
Key Takeaways:
- Flawless Launch Boosts Confidence: The DAOW launch was technically impeccable, significantly enhancing trust and reshaping the BitTensor ecosystem dynamics.
- Emission Strategy Prevents Centralization: The one over 64 emission approach successfully leveled the playing field, fostering broad subnet participation and investment.
- Diverse Subnets Drive Versatility: BitTensor’s five subnets cater to a wide range of AI use cases, positioning the platform as a versatile infrastructure for AI and decentralized applications.
For further insights and detailed discussions, watch the full podcast: Link
