Really great piece by the supremely talented @mcjkula, founder of @learnbittensor and resident “bot” of the Bittensor community.
Covering @taohash — Bittensor subnet 14. The founder of this subnet is none other than @KibibyteMe, the core open source maintainer of Bittensor and co-founder of @latentholdings. Cameron (aka Vune) discovered (invented!) a new category of incentive mechanism for mining other incentive mechanisms — using deeply more powerful and expressive incentive weights.
Bittensor itself is a neural network … to run subnets that mine other subnets or incentives (even other chains …!) is like running AI models that learn from other AI models at inference time! 🔥
⛏️ TAOHash (SN14): Community-Owned Mining Pool
Miners on subnet 14 have built a community-owned Bitcoin mining pool that peaked at 5 EH/s shortly after launch, representing 0.55% of Bitcoin's total network hashrate.
Unlike traditional pools where operators keep all fees, ALPHA holders "will" own the pool. The 2% pool fee is claimable by ALPHA holders, creating shared ownership instead of corporate control.
Miners compete based on share value rather than raw hashrate, earning both BTC rewards and ALPHA tokens that represent pool ownership stakes.
Learn how community-owned mining works on TAOHash:
Next up: Smart contracts for automated BTC rewards to miners and pool revenue distribution to ALPHA holders, and a hashrate rental marketplace.
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