Bittensor Rolls Out EVM Compatibility to Attract Ethereum Developers

Bittensor, a project aiming to challenge the centralized control of tech giants over AI models, has announced the launch of its Ethereum Virtual Machine (EVM) layer. This upgrade paves the way for a broader range of decentralized applications, such as DeFi platforms and blockchain bridges, to be built on the Bittensor network.

As the largest blockchain project focused on integrating artificial intelligence and blockchain technology, Bittensor aims to create a decentralized ecosystem where AI and machine learning can flourish without centralized oversight. The platform empowers users to develop and share machine learning models via blockchain. In return for providing computing power and data to train these models, users earn Bittensor’s cryptocurrency, TAO.

The Bittensor network consists of two main types of nodes: Servers and Validators. Servers compete to deliver the best responses, while Validators assess their performance and record results on the blockchain. This structure incentivizes efficiency, as higher-performing Servers earn more TAO tokens. Together, Servers and Validators collaborate to process vast amounts of data and extract meaningful insights.

The network also boasts over 50 specialized subnets, each tailored to specific tasks. These subnets support various functions, such as predictive modeling, zero-knowledge machine learning, image generation, and data scraping. This versatility enhances the utility of the Bittensor network and expands its application potential.

Previously, Bittensor lacked support for smart contracts, limiting developers’ ability to build decentralized applications. With the addition of the EVM layer, the platform opens up new opportunities for innovation, particularly in areas like DeFi and other popular Ethereum-like applications. The decision to enable smart contracts, announced in September, was well-received by investors. Since then, the value of the TAO token has more than doubled.

Bittensor’s momentum comes at a time of heightened interest in AI. Some investors, such as Barry Silbert from Digital Currency Group (DCG), believe it has the potential to be as transformative as Bitcoin. Multiple major funds have invested hundreds of millions of dollars into the project, pushing it into the top 40 largest blockchain projects by market capitalization.

However, the question remains: can “decentralized AI” surpass its centralized counterparts? Like Bitcoin, Bittensor will need time to build a robust user base and establish a strong reputation. The journey may be long, but the project’s innovative approach and growing support position it as a significant contender in the blockchain and AI space.