Key facts:
TAO has seen an 80% surge in the last 7 days.
Within the top 100 by market capitalization, it is the cryptocurrency with the greatest rise.
Bittensor (TAO), the native cryptocurrency of the machine learning protocol of the same name, is leading the weekly rise within the top 100 of the ranking of digital assets with the highest market capitalization. Its price soared after announcing updates to its network.
As announced by the Opentensor Foundation, Smart contracts and compatibility with the Ethereum Virtual Machine (EVM)“We are pushing Ethereum contracts to the network. We will be able to have contracts on the Bittensor network very soon, which will be really positive for trustless cross-chain bridges, also for more hierarchical designs at the top of subnets,” they said. through a video which was published on September 15th
As CriptoNoticias reported, the EVM is a computing engine that allows the execution of programs inside and outside the ecosystem created by Vitalik Buterin. Several chains have their own virtual machines to execute contracts, although most are based on the Ethereum “computer.”
Following the announcement, the price of TAO skyrocketed from $297 to $576 in the past seven days, which represents an increase of more than 80%.
At the time of publication of this note, the price of the digital asset is 542 dollars.
Bittensor It is one of the artificial intelligence protocols based on open source principles and currently has a market capitalization of over $3 billion.
It is a decentralized layer 1 network made up of different subnets, allowing the creation of content with artificial intelligence such as images, music or the automatic extraction of data from web pages in a matter of hours.
Due to its constant expansion, it is also The altcoin that rose the most in price in the last 90 daysas seen in the following image:
Finally, it is worth remembering that on August 9, Grayscale, a digital asset management firm, announced the launch of an investment product focused on TAO.
At the time, Rayhaneh Sharif-Askary, head of product and research at Grayscale, said: “We are very excited to add Bittensor to our product suite. We believe that Bittensor is at the heart of the growth of decentralized AI.”
