Bittensor、區塊鍊和人工智能網絡革命：去中心化智能的新時代

Bittensor 從結構升級到機構採用的動態演變正在重塑區塊鍊和人工智能格局。探索關鍵見解和未來趨勢。

New York, NY – The convergence of blockchain and artificial intelligence is accelerating, with Bittensor leading the charge in creating a decentralized AI network that promises to redefine how intelligent systems are built and deployed. Recent developments indicate a significant shift from theoretical concepts to robust infrastructure, marking a pivotal moment for developers, investors, and the broader AI community.

紐約州紐約——區塊鍊和人工智能的融合正在加速，Bittensor 率先創建了一個去中心化的人工智能網絡，該網絡有望重新定義智能係統的構建和部署方式。最近的發展表明從理論概念到強大基礎設施的重大轉變，這對於開發人員、投資者和更廣泛的人工智能社區來說標誌著一個關鍵時刻。

Ecosystem Expansion and Tokenomic Innovation

生態系統擴展和代幣經濟創新

The latter half of 2025 saw Bittensor experience a dramatic expansion, growing to 128 subnets by September. These subnets serve a diverse range of functions, from fraud detection and on-device AI to synthetic identity generation and urban video crowdsourcing. A pivotal upgrade, Dynamic TAO (dTAO), reshaped token issuance in February 2025, prioritizing rewards based on subnet performance rather than fixed emissions. This dynamic approach incentivizes utility and fosters a more competitive, differentiated ecosystem. Subnets can now issue their own tokens and implement tailored incentive structures, effectively becoming self-contained mini-economies. Structural reforms have also been instrumental in managing network chaos, leading to the pruning of inactive subnets and the introduction of governance controls like emission caps.

2025 年下半年，Bittensor 經歷了戲劇性的擴張，到 9 月份已增至 128 個子網。這些子網提供多種功能，從欺詐檢測和設備上人工智能到合成身份生成和城市視頻眾包。關鍵的升級動態 TAO (dTAO) 在 2025 年 2 月重塑了代幣發行，根據子網性能而不是固定排放來優先考慮獎勵。這種動態方法可以激勵效用並培育更具競爭力、差異化的生態系統。子網現在可以發行自己的代幣並實施量身定制的激勵結構，從而有效地成為獨立的迷你經濟體。結構性改革也有助於管理網絡混亂，導致修剪不活躍的子網並引入排放上限等治理控制措施。

Institutional Momentum and Scarcity Dynamics

制度動力和稀缺動態

The halving event on December 14, 2025, which reduced daily TAO emissions from 7,200 to 3,600, introduced a scarcity dynamic akin to Bitcoin's. This supply tightening coincided with significant institutional interest, highlighted by Grayscale's filing to convert its TAO trust into a U.S.-listed spot ETF. By early 2026, Bittensor appeared to be at a critical inflection point, transitioning from speculative frenzy towards infrastructure growth. Substantial capital inflows, positive technical momentum, and demonstrable demand for real economic outputs from subnets like Chutes signaled a maturation phase.

2025 年 12 月 14 日的減半事件將每日 TAO 排放量從 7,200 減少到 3,600，引入了類似於比特幣的稀缺動態。這種供應緊縮恰逢機構的巨大興趣，灰度申請將其 TAO 信託轉換為在美國上市的現貨 ETF 就凸顯了這一點。到 2026 年初，Bittensor 似乎正處於一個關鍵的拐點，從投機狂熱轉向基礎設施增長。大量資本流入、積極的技術動力以及對像 Chutes 這樣的子網的實際經濟產出的明顯需求標誌著成熟階段。

Enhanced Transparency and Developer Tools

增強的透明度和開發人員工具

Community-driven dashboards saw notable enhancements by November 2025, offering at-a-glance metrics such as block time, staking APR, and active subnet counts, making previously opaque data accessible. The Bittensor SDK and CLI also received substantial updates, boosting resilience, query speed (up to 8–10 times faster), and developer flexibility. Such advancements are crucial for fostering a vibrant and accessible ecosystem.

到 2025 年 11 月，社區驅動的儀表板得到了顯著增強，提供了一目了然的指標，例如區塊時間、質押年利率和活動子網計數，使以前不透明的數據變得可訪問。 Bittensor SDK 和 CLI 也獲得了重大更新，提高了彈性、查詢速度（最多快 8-10 倍）和開發人員靈活性。這些進步對於培育充滿活力且可訪問的生態系統至關重要。

Decentralized AI's Growing Credibility

去中心化人工智能的可信度不斷提高

The credibility of decentralized AI is on the rise. Notably, Jack Clark, co-founder of Anthropic, identified Templar (SN3) as the largest active decentralized training network, underscoring the increasing recognition of this model. Community sentiment turned increasingly bullish, with December 2025 being described as a "perfect storm" of year-end tax harvesting and supply shock, setting the stage for institutional accumulation in 2026. The growth of subnets, driven by micro-economies and the delivery of real-world services like inference and synthetic data, highlights Bittensor's unique value proposition, extending beyond mere user engagement.

去中心化人工智能的可信度正在上升。值得注意的是，Anthropic 聯合創始人 Jack Clark 認為 Templar (SN3) 是最大的主動去中心化訓練網絡，突顯了該模型的認可度不斷提高。社區情緒變得越來越樂觀，2025 年 12 月被描述為年終稅收和供應衝擊的“完美風暴”，為 2026 年的機構積累奠定了基礎。在微觀經濟以及推理和合成數據等現實世界服務的交付的推動下，子網的增長凸顯了 Bittensor 獨特的價值主張，而不僅僅是用戶參與。

Consensus, Governance, and Future Outlook

共識、治理和未來展望

Clarifications emerged regarding Bittensor's consensus model. While the root chain currently utilizes Proof-of-Authority (PoA) pending the launch of Network Proof-of-Stake (NPoS) governance in spring, subnets enforce Proof-of-Intelligence (PoI) among participants. Roadmaps from late 2025 projected bullish scenarios, with price targets ranging from $700 to $1,100 post-halving, though tempered by macro risks and potential governance challenges. Institutional integration, exemplified by NextGen Digital Platforms' plans to deploy validators and launch subnets, demonstrates how commercial entities are viewing Bittensor's infrastructure as both a platform and an asset.

關於 Bittensor 共識模型的澄清出現了。雖然根鏈目前使用權威證明 (PoA)，等待春季推出網絡權益證明 (NPoS) 治理，但子網在參與者之間強制執行情報證明 (PoI)。 2025 年底的路線圖預計看漲情景，減半後的價格目標範圍為 700 美元至 1,100 美元，但受到宏觀風險和潛在治理挑戰的影響。機構整合，例如 NextGen Digital Platforms 計劃部署驗證器和啟動子網，展示了商業實體如何將 Bittensor 的基礎設施視為平台和資產。

The "Neural Internet" Vision

“神經互聯網”願景

Bittensor is increasingly framed as a decentralized alternative to Big Tech's AI monopolies. It envisions a peer-to-peer network where AI models compete, collaborate, and are rewarded based on utility and novelty—a "neural internet" powered by Yuma Consensus and open governance. This modular subnet architecture and merit-based reward system offer a transparent, censorship-resistant alternative to centralized AI platforms. Despite emerging rival projects, Bittensor's built-in subnet competition and proof-of-intelligence framework set it apart. Financial data shows price volatility, but the arrival of structured products has boosted total value locked (TVL) and investor interest.

Bittensor 越來越多地被視為大型科技公司人工智能壟斷的去中心化替代品。它設想了一個點對點網絡，人工智能模型可以在其中競爭、協作，並根據實用性和新穎性獲得獎勵——一個由尤馬共識和開放治理驅動的“神經互聯網”。這種模塊化子網架構和基於績效的獎勵系統為集中式人工智能平台提供了透明、抗審查的替代方案。儘管出現了競爭項目，但 Bittensor 的內置子網競爭和情報證明框架使其脫穎而出。財務數據顯示價格波動，但結構性產品的到來提高了總鎖定價值（TVL）和投資者的興趣。

Conclusion: A Maturing Infrastructure

結論：成熟的基礎設施

Bittensor's evolution is demonstrably real and, in true human fashion, has its share of bumps. From expanding subnets and upgrading tokenomics to experiencing halving-induced scarcity and opening institutional gateways, the network is rapidly maturing into its infrastructure phase. It is transitioning from an idealistic experiment to a fully operational ecosystem. The coming months in spring 2026 will be crucial, with anticipated ETF approvals, subnet performance reports, and governance rollouts. The real test will be whether this decentralized AI promise solidifies beyond the hype, as everyday users and adopters watch where emissions flow and which subnets truly flourish.

Bittensor 的進化顯然是真實的，並且以真正的人類方式，也有其坎坷。從擴展子網和升級代幣經濟，到經歷減半引起的稀缺性和開放機構網關，該網絡正在迅速成熟到基礎設施階段。它正在從一個理想主義的實驗轉變為一個全面運作的生態系統。 2026 年春季的未來幾個月將至關重要，預計 ETF 會獲得批准、子網性能報告和治理會推出。真正的考驗將是，隨著日常用戶和採用者關注排放流向以及哪些子網真正蓬勃發展，這種去中心化人工智能的承諾是否會超越炒作。

It's an exciting time in the world of decentralized AI and blockchain – let's see where this rocket ship lands!

這是去中心化人工智能和區塊鏈世​​界中激動人心的時刻——讓我們看看這艘火箭飛船降落在哪裡！