Bittensor is a protocol for decentralized subnets. Subnets exist to produce decentralized intelligence. Each subnet is an incentive-based competitive market in action, to produce the best decentralized intelligence. For example, the text prompting subnet incentivizes subnet miners who produce the best prompt completions in response to the prompts sent by the subnet validators in that subnet.

Subnets run on blockchain and constitute the core of the Bittensor ecosystem. The rewards for subnet participants are in the form of TAO tokens.

The Bittensor ecosystem consists of the following three components (refer to the above diagram):

  1. An incentive-based competition mechanism: You can either create your custom incentive mechanism for your own competition or join a competition that already exists in the Bittensor ecosystem. Each such incentive-based competition market is called a subnet. Subnets constitute the core of the Bittensor ecosystem.

  2. A blockchain that runs the above subnets and supports their proper functioning so that the incentive-based competition market is decentralized, is permissionless and is collusion-resistant, i.e., is resistant to market manipulation.

  3. The Bittensor API that connects all the essential elements within the above two components, and also connects the subnets and the blockchain.

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