Coin Metrics is thrilled to introduce Precog (Subnet #55), a cutting-edge subnet built on the Bittensor network in collaboration with Yuma, a subsidiary of DCG, dedicated to supporting startups building decentralized intelligence projects on Bittensor. This ambitious endeavor aims to transform the landscape of cryptoasset price forecasting through decentralized machine learning and collaborative innovation.
What is Precog?
Precog is a specialized subnet designed to produce high-frequency Bitcoin price forecasts. Every five minutes, the Precog subnet produces a forecast for Bitcoin’s price one hour into the future. This rapid, high-precision capability showcases the transformative potential of decentralized machine learning in financial markets.
What is a Subnet?
A subnet on the Bittensor network is a smaller, independent network operating within the larger blockchain ecosystem. Each subnet functions like a specialized working group, solving specific problems or creating new features within the AI and machine learning tech stack. Subnets can focus on tasks such as creating datasets, developing compute infrastructure, training AI models, coding, inferencing, and more.
Subnets are structured to have three key participants:
- Subnet Owners: Define the business goals and incentive mechanisms of the subnet and support the ecosystem.
- Subnet Miners: Perform the AI-related tasks and compete to produce the best outputs.
- Subnet Validators: Evaluate the quality of miners’ outputs and ensure the integrity of the network.
The decentralized nature of subnets enables collaborative innovation, ensuring that advancements in AI are open and accessible to the global community. Subnets are incentivized through $TAO rewards, which are distributed based on performance and contribution to the network.
Why Precog Matters
Traditional financial markets lack the infrastructure to achieve short-term, high-frequency price forecasting. Precog bridges this gap by harnessing decentralized AI, ensuring diverse perspectives, and reducing noise in predictive models. This initiative represents a unique fusion of advanced machine learning, robust data resources, and the collaborative ethos of decentralized technology.
Built on Bittensor
Bittensor’s decentralized AI lab and blockchain network provide the ideal platform for Precog. With its innovative “network of networks” architecture, Bittensor empowers subnets like Precog to operate as independent AI working groups, driving innovation and solving specialized problems.
Through Bittensor’s Yuma consensus mechanism, subnet validators and miners collaborate to deliver the most accurate outputs, incentivized by the network’s unique $TAO tokenomics. By joining Precog, participants contribute to a decentralized ecosystem that rewards transparency, collaboration, and innovation.
“Precog marks an exciting milestone for decentralized AI and the Bittensor network. With Coin Metrics bringing their trusted, industry-leading price data into this innovative subnet, we’re seeing a new benchmark for quality and collaboration in the ecosystem. By empowering miners with unparalleled data and unlocking the potential for new financial products, Precog represents a bold step forward. Yuma is proud to have partnered with Coin Metrics, an established leader in crypto, from the beginning to help realize this vision on Bittensor.” – Evan Malanga, Chief Revenue Officer
Powered by Coin Metrics
Precog is underpinned by Coin Metrics’ comprehensive and trusted network and market datasets. Our data, renowned for its accuracy and reliability, provides the foundation for machine learning models within the Precog ecosystem, ensuring that all forecasts are rooted in high-quality inputs.
“Precog is a testament to the power of collaboration and open-source innovation. By combining Coin Metrics’ trusted data with Bittensor’s decentralized AI, we’re enabling a community-driven approach to market data forecasting. This endeavor with Yuma underscores our commitment to building a transparent, collaborative ecosystem that empowers all participants.” – Tim Rice, Coin Metrics CEO
Why Join Precog?
- Prognostic Insights: Contribute to generating Bitcoin price forecasts with unmatched speed and precision.
- Access Premium Data: Build your models using Coin Metrics’ industry-leading datasets.
- Decentralized Collaboration: Participate in a community-driven effort to redefine financial intelligence.
- Open Source Innovation: Share and benefit from open knowledge, fostering collective progress.
By participating in Precog, you’re not just mining—you’re shaping the future of decentralized finance and crypto market intelligence. Join us in building a more transparent and collaborative crypto ecosystem.
How to Get Involved
Interested in becoming a Precog miner or validator? Visit coinmetrics.io/precog to find the resources you need to get started!
About Coin Metrics
Coin Metrics is the leading provider of crypto financial intelligence, offering network data, market data, indexes and network risk solutions to the most prestigious institutions touching cryptoassets. The company was founded in 2017 as an open-source project to determine the economic significance of public blockchains. Today, we expand on that original purpose to empower people and institutions to make informed crypto financial decisions. We aim to usher the world’s premier financial institutions into crypto with the most trusted data and insights. For more information, visit www.coinmetrics.io.
About Yuma
Yuma invests in, builds, and incubates computational infrastructure in the Bittensor ecosystem. We are an accelerator for research teams and entrepreneurs seeking a competitive alternative to closed artificial intelligence systems and a trusted partner to institutions exploring Bittensor. Our mission is to create positive economic and societal change by connecting transformative ideas to decentralized intelligence. Yuma is a subsidiary of DCG, a global investor, builder, and incubator. For more information, visit www.yumaai.com
