Concepts

A decentralized network model where each participant (peer) acts as both a client and a server. This setup allows for direct resource sharing without a central authority.

The basic unit of time on the Bittensor blockchain. A new block is produced approximately every 12 seconds, and each block can contain transactions and emit new TAO.

A compact representation of public keys used as wallet addresses for secure TAO transfers in the Bittensor network.

A 12-word phrase that serves as the master key to access and recover Bittensor wallets.

A "feature" that allows one account to perform specific actions on behalf of another account. This lets you keep your TAO and ALPHA in a secure offline account while using a more accessible account for daily use.

A dual-key system that secures TAO tokens and enables network participation.

An individual or team that creates and manages a specialized task group (called "subnet") within Bittensor, defining the incentive mechanism and earning 18% of the subnet's ALPHA emissions.

A subnet participant who performs the work defined by the subnet's incentive mechanism.

A subnet participant who evaluates miner work and submits scores (weights) to the blockchain. Validators earn ALPHA dividends in return, and can accept delegated stake from nominators to increase their influence.

A TAO or ALPHA holder who stakes with a validator to earn a share of that validator's dividends, without validating themselves.

The native token of the Bittensor blockchain. TAO is used for staking, paying transaction fees, and gets emitted into subnet pools to provide liquidity. All subnet tokens (ALPHA) are priced relative to TAO.

Newly created ALPHA tokens distributed to incentivize subnet participants and TAO emitted to subnets based on their net TAO inflow EMA. Emissions solve the fundamental problem of making the desired work financially profitable in a decentralized protocol like Bittensor.

A reduction in the TAO emission rate that occurs when specific supply thresholds are reached. Each halving cuts the per-block TAO emission in half, slowing the rate at which new TAO enters circulation.

The process of removing TAO from the total issuance count, effectively returning it to the unissued supply. Recycled TAO can be emitted again in future blocks.

The process of placing TAO or ALPHA with a validator to earn a share of their dividends.

Root Claim is a feature that lets you decide how to receive dividends when you stake on the root subnet. Your validator earns ALPHA from all the subnets it validates, and you receive a proportional share of those dividends. Root Claim allows you to decide whether you keep those ALPHA in their original form or automatically convert them to TAO.

A feature that lets any staker commit their stake on a subnet for a set period of time to build "conviction." The staker with the highest conviction score can become the owner of that subnet.

A mechanism that manages the exchange between TAO and subnet tokens. Each subnet has its own pool that determines token prices and handles staking operations.

A smoothed price value that prevents sudden market volatility. EMA price creates stability by gradually adjusting to price changes rather than reacting instantly.

Newly created ALPHA tokens distributed to incentivize subnet participants and TAO emitted to subnets based on their net TAO inflow EMA. Emissions solve the fundamental problem of making the desired work financially profitable in a decentralized protocol like Bittensor.

Root Proportion determines how validator rewards are distributed between TAO staked to root and ALPHA staked to a subnet.

A proposed reintroduction of subnet removal mechanisms for Dynamic TAO, designed to free up TAO emissions and protocol resources.

A feature that allows users to provide liquidity in TAO and ALPHA tokens to specific price ranges in subnet pools, earning fees from trades.

Scores that validators assign to miners, representing how well each miner performed. The blockchain uses these weights to determine how ALPHA emissions get distributed within a subnet.

The rules that define what work a subnet's miners must do, how validators score that work, and how ALPHA emissions get distributed based on performance. Each subnet's incentive mechanism is designed by its subnet owner.

The algorithm that the blockchain runs to turn validator weights into a fair emission distribution. Yuma Consensus determines how much each miner and validator earns by finding what the majority of validators agree on.

A method where validators copy scores from others instead of checking miners' work themselves.

A mechanism that prevents validators from copying each other's weights by keeping them hidden until the blockchain automatically reveals them.

A system that dynamically adjusts how quickly bonds between validators and miners change. It uses per-miner alpha values based on consensus to reward validators who evaluate independently and make copying less profitable.