Bittensor、区块链和人工智能网络革命：去中心化智能的新时代

Bittensor 从结构升级到机构采用的动态演变正在重塑区块链和人工智能格局。探索关键见解和未来趋势。

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.

纽约州纽约——区块链和人工智能的融合正在加速，Bittensor 率先创建了一个去中心化的人工智能网络，该网络有望重新定义智能系统的构建和部署方式。最近的发展表明从理论概念到强大基础设施的重大转变，这对于开发人员、投资者和更广泛的人工智能社区来说标志着一个关键时刻。

Ecosystem Expansion and Tokenomic Innovation

生态系统扩展和代币经济创新

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 经历了戏剧性的扩张，到 9 月份已增至 128 个子网。这些子网提供多种功能，从欺诈检测和设备上人工智能到合成身份生成和城市视频众包。关键的升级动态 TAO (dTAO) 在 2025 年 2 月重塑了代币发行，根据子网性能而不是固定排放来优先考虑奖励。这种动态方法可以激励效用并培育更具竞争力、差异化的生态系统。子网现在可以发行自己的代币并实施量身定制的激励结构，从而有效地成为独立的迷你经济体。结构性改革也有助于管理网络混乱，导致修剪不活跃的子网并引入排放上限等治理控制措施。

Institutional Momentum and Scarcity Dynamics

制度动力和稀缺动态

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 日的减半事件将每日 TAO 排放量从 7,200 减少到 3,600，引入了类似于比特币的稀缺动态。这种供应紧缩恰逢机构的巨大兴趣，灰度申请将其 TAO 信托转换为在美国上市的现货 ETF 就凸显了这一点。到 2026 年初，Bittensor 似乎正处于一个关键的拐点，从投机狂热转向基础设施增长。大量资本流入、积极的技术动力以及对像 Chutes 这样的子网的实际经济产出的明显需求标志着成熟阶段。

Enhanced Transparency and Developer Tools

增强的透明度和开发人员工具

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，社区驱动的仪表板得到了显着增强，提供了一目了然的指标，例如区块时间、质押年利率和活动子网计数，使以前不透明的数据变得可访问。 Bittensor SDK 和 CLI 也获得了重大更新，提高了弹性、查询速度（最多快 8-10 倍）和开发人员灵活性。这些进步对于培育充满活力且可访问的生态系统至关重要。

Decentralized AI's Growing Credibility

去中心化人工智能的可信度不断提高

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 联合创始人 Jack Clark 认为 Templar (SN3) 是最大的主动去中心化训练网络，突显了该模型的认可度不断提高。社区情绪变得越来越乐观，2025 年 12 月被描述为年终税收和供应冲击的“完美风暴”，为 2026 年的机构积累奠定了基础。在微观经济以及推理和合成数据等现实世界服务的交付的推动下，子网的增长凸显了 Bittensor 独特的价值主张，而不仅仅是用户参与。

Consensus, Governance, and Future Outlook

共识、治理和未来展望

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.

关于 Bittensor 共识模型的澄清出现了。虽然根链目前使用权威证明 (PoA)，等待春季推出网络权益证明 (NPoS) 治理，但子网在参与者之间强制执行情报证明 (PoI)。 2025 年底的路线图预计看涨情景，减半后的价格目标范围为 700 美元至 1,100 美元，但受到宏观风险和潜在治理挑战的影响。机构整合，例如 NextGen Digital Platforms 计划部署验证器和启动子网，展示了商业实体如何将 Bittensor 的基础设施视为平台和资产。

The "Neural Internet" Vision

“神经互联网”愿景

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 越来越多地被视为大型科技公司人工智能垄断的去中心化替代品。它设想了一个点对点网络，人工智能模型可以在其中竞争、协作，并根据实用性和新颖性获得奖励——一个由尤马共识和开放治理驱动的“神经互联网”。这种模块化子网架构和基于绩效的奖励系统为集中式人工智能平台提供了透明、抗审查的替代方案。尽管出现了竞争项目，但 Bittensor 的内置子网竞争和情报证明框架使其脱颖而出。财务数据显示价格波动，但结构性产品的到来提高了总锁定价值（TVL）和投资者的兴趣。

Conclusion: A Maturing Infrastructure

结论：成熟的基础设施

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 的进化显然是真实的，并且以真正的人类方式，也有其坎坷。从扩展子网和升级代币经济，到经历减半引起的稀缺性和开放机构网关，该网络正在迅速成熟到基础设施阶段。它正在从一个理想主义的实验转变为一个全面运作的生态系统。 2026 年春季的未来几个月将至关重要，预计 ETF 会获得批准、子网性能报告和治理会推出。真正的考验将是，随着日常用户和采用者关注排放流向以及哪些子网真正蓬勃发展，这种去中心化人工智能的承诺是否会超越炒作。

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

这是去中心化人工智能和区块链世​​界中激动人心的时刻——让我们看看这艘火箭飞船降落在哪里！