Introducing The Bittensor Journal; Weekly Recap #1

Hello and good day to you all!

It has been a wonderful week with a lot of exciting moments. I have recently been thinking about starting a journal or a magazine to record what I believe is history in the making, similar to Bitcoin. Not only to make it easier to look back on but also to keep both the community and those who still are on the outside looking in updated. I decided to try to write a easily digestible short format journal or weekly recap of network developments, advancements and community efforts and post it here on the forums and then I’ll take it from there. This may or may not be a recurrent thing for the unforeseeable future. Thank you for being here and reading this, and thank you for supporting Bittensor.



Network development

First off, the obvious main event this week was the successful hard fork, namely the Finney update. This update introduces subnetworks and features such as delegated staking.

Giving a new and quite literal meaning to the phrase “wisdom of the crowd”, delegating introduces democratic sharing of incentives to builders and those who bring value to the network and its growth. Rather than traditional staking as a simple means of staking just for the sake of it, mostly roleplaying as a security feature, delegating TAO showcases the first form of a type of DAO like structure for the network. Users can choose to financially support whoever they deem worthy without actually donating or directly funding them themselves. It is a form of decentralised crowdfunding which makes it possible for developers to earn a competitive “salary” without even having an employer. Be an asset and build and you may be shared incentive to continue contributing.


Community efforts

Foundry finally publicly announced their previous and ongoing collaboration with the OpenTensor foundation and the opening of their public validator this week, enabling both retail and institutional staking. They have been a great asset so far and keep showing massive efforts and enthusiasm for the network and its future.

You can show your support and earn dividends by delegating to Foundry via the following address:

Code:


5F4tQyWrhfGVcNhoqeiNsR6KjD4wMZ2kfhLj4oHYuyHbZAc3


On Friday we saw TaoStats.io launch their own explorer with the support of tensor.exchange as their latest addition to the vast collection of tools for tracking and analysis of the network and its token TAO. This new explorer currently supports post-Finney transactional data.

The community made explorer can be found here:
https://explorer.taostats.io/bittensor

You can show your support and earn dividends by delegating to TaoStats via the following address:

Code:


5Hddm3iBFD2GLT5ik7LZnT3XJUnRnN8PoeCFgGQgawUVKNm8


General sentiment and TAO price action

After the recent acceleration and explosion of community growth we may seem to have hit a temporary plateau, although it should be said that community sentiment still generally appears to be vastly positive across all media. The Finney update was especially well received.

TAO is currently at the time of writing trading at ~$70. The total trading volume is divided by the current top 3 secondary markets, being Uniswap for wTAO, and tensor.exchange and MEXC for TAO.

Only few will remember when TAO was only on 3 exchanges and trading at ~$70. Very few...history is rarely appreciated by those not making it!

I like this form of summary. It's hard to find useful information in the flood of twitter.