Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. With this mission in mind, we are proud to share our January edition of Movers and Shakers, the monthly resource aiming to bring more transparency and credibility to the rapidly evolving crypto space.
As new assets reach a certain degree of accessibility to investors, specifically as they achieve alignment with our Market Selection Framework and the Trusted Volume Framework, Coin Metrics uses its crypto expertise to describe the assets’ context of use. The following assets are expected to reach alignment this month:
Bittensor (TAO) is a compute & private storage network supporting decentralized AI services or other intelligence tasks. Developers can build and operate subnets hosted by Bittensor which allows users (consumers of AI services) to interact with a decentralized AI protocol. Subnets provide a target for miners (subnet participants that produce the target service or data) to achieve. This goal can range from creating a user-requested visual output to predicting Bitcoin’s price in the next hour. Miners are rewarded by validators (subnet participants who rank miners’ targets) who evaluate the outputs based on the subnet’s predetermined standards. These rewards in TAO tokens incentivize miners to continuously improve their accuracy of desired outputs. TAO tokens are distributed to each subnet, validator, and miner based on their relative performance. TAO is used to bid for a slot to operate a new subnet, staked with validators to increase voting power and direct rewards, and can be deposited in liquidity pools to earn the individual subnet ‘alpha’ tokens to further align with project development.
DoubleZero (2Z) is a network scaling solution providing hardware improvements to increase the bandwidth and reduce latency of Solana (SOL). DoubleZero connects to independently-owned fiber optic cables through which network validators connect and send transactions. Instead of sharing cables with public internet activity, Solana activity is prioritized and can be filtered for spam and other malicious events. These private channels minimize the distance to send transactions and reduce packet loss, improving the success rate of network activity. Validators pay fees denominated in SOL to support the network infrastructure. The 2Z token can be used to pay network fees, staked with network contributors for performance guarantees, and are rewarded to network contributors.
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