Barry Silbert and Yuma: Pioneering Decentralized AI Projects

user avatar

by Giorgi Kostiuk

2 years ago

Barry Silbert of Digital Currency Group has announced the launch of Yuma, a new subsidiary aimed at fostering decentralized AI projects using the Bittensor infrastructure.

Yuma as an Accelerator and Incubator for Startups

Crypto mogul Barry Silbert likens the potential of Yuma to the early days of Bitcoin, which introduced a new era of financial transparency. He mentioned that Bittensor's features could spur groundbreaking developments, positioning Yuma as both an accelerator and an incubator to support startups. Currently, the company operates five active subnets and has nine others under development, focusing on areas like sports prediction, bot detection, and academic research.

Rewards for Users in TAO

Bittensor, a decentralized AI platform, enables users to create, train, and access machine learning models. The native cryptocurrency TAO is used to reward contributors to the network. Silbert highlighted that TAO could challenge existing models dominated by tech giants like Microsoft and Google.

Fair Compensation for Contributors

Bittensor can be likened to a sort of 'World Wide Web' of intelligence. Contributors receive fair and accurate compensation in TAO for their contributions. This system allows users to freely share ideas and benefit from equitable distribution. The platform employs the Yuma Consensus mechanism for fair reward allocation.

With Yuma's expansion and support for decentralized tech startups, Barry Silbert promotes DCG's long-term strategy of leveraging emerging technologies to innovate traditional finance.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.