Updates on BitTensor and Future Developments

Key Updates and Announcements

BitTensor Network Update: Bedtime Story Validators v1.2.0

Shiba started by announcing the latest update to the Bedtime Story validators, upgrading them to version 1.2.0. This update includes security improvements and performance enhancements, notably the integration of the new BTLM model. This addition aims to solve some persistent issues like hallucinations and off-topic responses within the network.

The community can expect ongoing tuning as needed, ensuring the network functions optimally. These types of updates are part of the continual efforts to refine the system and improve its overall reliability and performance.

Sponsorship at Hack MIT

One of the most exciting announcements was that BitTensor will be an official sponsor of Hack MIT this year. Carol, a team member from BitTensor, will attend the event to showcase how the technology can be applied to real-world problems during the hackathon. By engaging with young, talented developers, BitTensor aims to increase awareness of AI technology and attract new machine learning experts to the network. This event is an important opportunity to introduce the concept of decentralized neural networks to the next generation of tech professionals.

Introduction of James to the BitTensor Community

James, with a background in investment banking from GSR, was officially introduced as the new team lead for growth efforts at the Open Tensor Foundation. James emphasized his enthusiasm for joining the project, noting that BitTensor's approach is unique in the crypto space. He expressed his belief that the project has the potential to address significant challenges in AI and machine intelligence. James is committed to working with the community to drive BitTensor’s mission forward.

The State of Subnets and Future Development

James and Shiba answered questions about subnets, one of the most discussed aspects of the AMA. Subnets are in the final stages of testing, with plans to launch in September. The upcoming release promises to be smoother than previous launches, as the team has learned valuable lessons from the Subnet 1 release. By the end of the year, the goal is to have between three and six active subnets, with more under development.

The decentralization provided by subnets allows users to move between networks, enhancing BitTensor’s robustness. This move is essential to addressing concerns about centralization, and the team is committed to bringing in more AI developers to foster competition and reduce centralization.

Addressing Concerns about Decentralization

Decentralization is a core principle of BitTensor, and Shiba and James addressed the community’s concerns on this front. With subnets playing a significant role in the network's decentralization, more developers are being recruited through events like Hack MIT. The introduction of decentralized governance will also give users more control over subnets, allowing them to create their own networks with specific governance models.

Shiba noted that while the potential for creating rogue subnets exists, validators and miners can refuse to support subnets with bad intentions. The open-source nature of the project aims to promote responsible development and community-driven decision-making.

Concerns about the Consensus Model and Model Deregistration

The community raised questions about the consensus model, especially in regard to model weights being lost during deregistration. Shiba addressed this by explaining that models not performing well are removed from the system, as they aren’t contributing valuable data. The current subnet operates in interest mode, where model weights are primarily kept to themselves and not heavily relied upon by the network. The team is open to collaboration and feedback from community members, particularly Professor Khan, who has voiced concerns about the model deregistration process.

Shiba assured the community that they would reach out to Professor Khan to better understand his concerns and see if there are improvements that can be made to enhance the model consensus system.

Ensuring Security and Trust in a Decentralized System

A significant topic during the AMA was the question of network security. Shiba and James discussed the potential for rogue actors using the network for harmful purposes like CP, bio-weapons, or terrorism. They highlighted how the network’s structure allows miners to blacklist validators who spread harmful datasets. Validators who don’t align with the consensus will lose trust within the network and will eventually be removed. Additionally, the system already has NSFW filters in place to block the spread of dangerous or inappropriate data.

Decentralization does pose risks, but the free-market system at the heart of BitTensor enables people’s actions and incentives to drive the direction of the project. Validators and miners play a key role in determining which datasets and subnets are trustworthy.

Regulation and Compliance: Setting Industry Standards

In terms of regulation, James emphasized BitTensor's responsible approach in the crypto and AI space. The OpenTensor Foundation has taken proactive steps to ensure compliance with industry regulations, working with legal experts, including former members of SCP, to navigate the complex landscape. This responsible approach is setting a new industry standard, making BitTensor an exemplary project in both AI and crypto sectors.

The team is actively avoiding speculative crypto behaviors such as airdrops and is focused on building a long-term sustainable project. This careful handling of the project could become a case study for how crypto and AI projects navigate regulatory challenges in the future.

Increasing BitTensor's Total Intelligence

Looking forward, increasing BitTensor's total intelligence is a primary focus for the team. James outlined several factors that contribute to this goal, including output quality, diversity, and reward model performance. Subnet 1, in particular, requires ongoing work to measure and improve performance. To assist with this, new dashboards will be introduced to the community, allowing them to track network performance and diversity metrics.

Recruiting AI developers and fostering engagement is also a crucial part of increasing the network’s intelligence. BitTensor is actively hiring for a Developer Relations role to bring in more talent. By increasing engagement from AI experts, the network can continue to evolve and expand its capabilities.

Growing Awareness and Expanding the Network

Although BitTensor has grown to an impressive $300 million valuation with no formal marketing, the team is focusing on increasing awareness to attract more developers and users. Hackathons like MIT Hack play an essential role in this strategy, as do continued outreach efforts to the AI community.

The goal is to build a system where incentives align, and the community drives the project forward. While it isn’t perfect, the decentralized nature of BitTensor provides a better alternative to centralized solutions, where a few individuals control the direction of the project. The team remains passionate about this mission and is committed to creating a system that benefits everyone involved.

Conclusion

The AMA offered insightful updates on BitTensor's ongoing developments, including security enhancements, decentralization efforts, and upcoming events like Hack MIT. James and Shiba provided clarity on many concerns, especially around the network’s growth, decentralization, and regulation. BitTensor continues to be an exciting and evolving project, positioning itself as a leader in the AI and decentralized neural network space. Stay tuned for more exciting developments as the community grows and the network expands its capabilities.

Source : @The Bittensor Hub.