DCG Launches Yuma to Accelerate Decentralized AI with Bittensor

Wednesday, November 20, 2024 12:00 AM
41

Barry Silbert, the CEO of Digital Currency Group (DCG), has expressed his belief that Bittensor could be as transformative as Bitcoin. To support this vision, DCG has launched a new company named Yuma, which will act as an accelerator for startups interested in exploring the Bittensor ecosystem. Bittensor itself is a decentralized network that incentivizes contributions of data and computing power for various AI tasks, ranging from text translation to complex protein structure prediction. Silbert likens Bittensor to the World Wide Web of AI, highlighting its potential to democratize AI technology and reduce the dominance of major tech corporations.

Yuma aims to incubate and build businesses that utilize decentralized AI, with plans to support startups and enterprises in launching their own subnets within the Bittensor framework. Silbert will take on the role of CEO at Yuma, which is expected to start with around 25 employees. The company operates under a model similar to Y Combinator, providing resources and support for both accelerator and incubator partnerships. Currently, Yuma has five active subnets, with additional projects in development, showcasing a diverse range of applications including bot detection, time series predictions, and AI research.

The interest in decentralized AI is not a recent development for DCG, as they made their first investment in Bittensor back in 2021. With the addition of funds dedicated to AI through Grayscale, DCG is positioning itself at the forefront of this emerging technology. The native cryptocurrency of Bittensor, $TAO, plays a crucial role in incentivizing decentralized workers, whether they are miners providing computing services or validators ensuring quality contributions. As Yuma continues to grow, it aims to foster innovation and collaboration within the Bittensor ecosystem, paving the way for a new era of decentralized AI applications.

Related News

Top Cryptocurrency Contenders for December 2024: A Focus on BlockDAG and More cover
21 hours ago
Top Cryptocurrency Contenders for December 2024: A Focus on BlockDAG and More
As December 2024 approaches, the cryptocurrency market is witnessing a surge of innovation and competition among several prominent projects. Notable contenders such as Sui (SUI), Sei (SEI), Bitcoin Cash (BCH), Injective (INJ), and BlockDAG (BDAG) are each carving out their niches in areas like decentralization, scalability, and practical adoption. This article explores the unique attributes of these cryptocurrencies, including their current prices, future potential, and technological frameworks, to identify which may be the most advantageous investment as the year draws to a close. BlockDAG has made headlines with its impressive presale, surpassing $158 million and selling over 16.9 billion coins. Currently priced at $0.0234, this represents a staggering 2240% increase from its initial offering. The ecosystem is thriving, with over 270,000 users engaging through its X1 Miner App, which simplifies crypto mining. Additionally, the TG Tap Miner game has attracted over 71,000 participants, further enhancing user engagement. Analysts predict a potential 30,000x return on initial investments, highlighting BlockDAG's transformative potential in the blockchain space. Meanwhile, SUI has seen a remarkable 97.10% increase in just 30 days, driven by a robust DeFi ecosystem that peaked at a total value locked (TVL) of $1.75 billion. Sei is also gaining traction due to its low latency and high-speed transactions, with analysts forecasting a potential price surge to $2 or even $10. Bitcoin Cash continues to thrive as a decentralized payment method, recently trading at $505, while Injective is making strides with its AI-enhanced DeFi solutions. Overall, while all these projects show promise, BlockDAG stands out as a leading candidate for investment in December 2024 due to its exceptional growth and innovative approach.
Aethir, Beam Foundation, and MetaStreet Launch $40 Million Tactical Compute Initiative cover
2 days ago
Aethir, Beam Foundation, and MetaStreet Launch $40 Million Tactical Compute Initiative
Aethir, Beam Foundation, and MetaStreet have joined forces to unveil Tactical Compute, a significant $40 million initiative aimed at addressing the surging demand for computing power in both artificial intelligence and blockchain sectors. This collaboration harnesses Aethir's decentralized GPU network, Beam's investment strategies, and MetaStreet's decentralized finance (DeFi) infrastructure to create new avenues for monetizing compute resources. Tactical Compute will function under Tactical Compute Holding Limited, focusing on various compute-related opportunities such as hardware financing, private yield arbitrage, and network bootstrapping, as outlined in a recent Beam Medium post. The initiative is designed to tackle the increasing demand for computing resources while seamlessly integrating crypto-based innovations. Tactical Compute aims to identify profitable opportunities within the compute market, including a unique approach to “farming” Aethir tokens. This process resembles earning credits for utilizing Aethir's GPUs, similar to how Microsoft offers Azure credits for its cloud services. By leveraging these strategies, Tactical Compute seeks to balance the supply and demand dynamics in the computing landscape, ultimately benefiting both the AI and blockchain communities. The Beam Foundation is committing $5 million to this venture, supported by prominent backers like the Sophon Foundation. Daniel Wang, CEO of Aethir, expressed that this partnership is set to unlock new opportunities in the monetization of compute resources and foster innovation in scalable AI and decentralized technologies. Meanwhile, MetaStreet, through its development arm Permian Labs, is contributing its expertise in DeFi tools to finance GPU-powered nodes. Co-founder David Choi emphasized that Tactical Compute builds on their existing foundation, addressing the escalating demand for compute infrastructure and catalyzing innovation at the intersection of cryptocurrency, AI, and infrastructure.
Helium (HNT) Price Surges to New Nine-Month High Amid Bullish Sentiment cover
2 days ago
Helium (HNT) Price Surges to New Nine-Month High Amid Bullish Sentiment
The Helium (HNT) token has recently experienced a significant price surge, recording an impressive 8.36% increase within a 24-hour period, reaching a new nine-month high. This upward momentum is accompanied by a trading volume of $59.31 million, reflecting a robust interest in the altcoin. Over the past week, HNT has surged by 35.17%, and a remarkable 42.76% over the last 30 days, indicating a strong bullish trend. Currently, Helium maintains its value above the $8.5 mark, with a Year-to-Date (YTD) return of 27.59%, positioning it at the 85th spot in the cryptocurrency market with a market capitalization of $1.503 billion. Technical indicators suggest that the bullish sentiment surrounding HNT could continue, with price targets set at $9.510 and $11.070. The Relative Strength Index (RSI) is nearing the overbought territory, while the 50-day and 200-day Exponential Moving Averages (EMA) show a consistent uptrend. This technical analysis hints at a potential continuation of the bullish price action throughout the week. However, market volatility remains a concern, and traders are left wondering whether HNT can maintain this momentum and reach a new 52-week high or if a correction is on the horizon. Looking ahead, if bullish sentiment prevails, HNT may retest its resistance level of $9.510. Conversely, should bearish trends emerge, the price could drop to its support level of $8.010, with further declines potentially reaching a low of $6.525. The all-time high for Helium stands at $55.22, recorded on November 13, 2021, raising questions about the long-term price prospects of the token. As traders and investors monitor these developments, the future of HNT remains a topic of keen interest in the cryptocurrency community.
JasmyCoin Surges to New Heights Amid Bitcoin Rally and Strategic Partnership cover
2 days ago
JasmyCoin Surges to New Heights Amid Bitcoin Rally and Strategic Partnership
This week, JasmyCoin has experienced a remarkable surge, reaching its highest price since 2022, trading at $0.052. This impressive increase of 1,000% from its lowest point this year is largely attributed to the recent rally of Bitcoin, which hit a record high of $104,000. The rise in Bitcoin's value has positively impacted other cryptocurrencies, including Litecoin, Bitcoin Cash, and Ravencoin, all of which have seen significant gains. Additionally, JasmyCoin's popularity is reflected in its growing number of holders, which has increased to nearly 80,000 from 76,300 just a month ago, according to CoinCarp. In addition to the Bitcoin rally, JasmyCoin's partnership with IoTeX, a prominent player in the Internet of Things (IoT) sector, has further fueled its growth. This collaboration is expected to drive DePIN (Decentralized Physical Infrastructure Networks) innovation in Japan, a key market for the cryptocurrency industry. Major partnership announcements often lead to price rallies in the crypto space, and JasmyCoin is no exception. With a market capitalization now reaching $2 billion, JasmyCoin has gained significant traction among investors. Technical analysis of JasmyCoin reveals a strong performance throughout the year, characterized by the formation of a golden cross, where the 50-day and 200-day moving averages intersect. Furthermore, the coin has completed a cup and handle pattern, indicating a potential continuation of its upward trend. Analysts suggest that if JasmyCoin maintains its momentum, it could rise to $0.075, representing a 50% increase from its current level. However, this bullish outlook could be jeopardized if the price falls below the critical pivot level of $0.03662.
Matchain Partners with io.net to Enhance AI Development in Web 3 cover
3 days ago
Matchain Partners with io.net to Enhance AI Development in Web 3
Decentralized GPU compute provider io.net has announced a strategic partnership with Matchain, a decentralized AI identity layer for Web 3. This collaboration aims to enhance AI application development within the Matchain ecosystem by leveraging io.net's GPU infrastructure. The partnership is designed to streamline the development process for Matchain developers, allowing them to focus on creating innovative applications without the complexities of managing infrastructure. Matchain, known for its AI-driven identity solutions, will utilize io.net's decentralized computing resources to support various applications, ultimately fostering advancements in AI integrations and innovations. The integration of io.net's GPU infrastructure will provide Matchain users with scalable and cost-effective computing resources. By utilizing io.net's GPU clusters, which are priced significantly lower than traditional cloud services, Matchain aims to deliver high-performance computing capabilities to its users. This partnership not only reduces costs but also enhances the speed and efficiency of AI application development. Jessie Xiao, Chief Commercial Officer of Matchain, emphasized that this collaboration empowers developers with the necessary tools to build next-generation applications while advancing the mission of AI-driven innovation in decentralized ecosystems. Furthermore, the partnership aligns with Matchain's goals to leverage blockchain technology for AI research. By integrating io.net's decentralized computing model, Matchain users will benefit from on-demand GPU resources and faster payment solutions via the Solana blockchain. This collaboration is expected to provide 1.1 million users with access to advanced tools for creating innovative AI identity-based applications, including identity and data management solutions. Both companies view this partnership as a significant step forward in the AI and blockchain landscape, offering practical solutions for the advancement of decentralized AI applications.
Empowering Content Creators with iExec's DataProtector Tool cover
3 days ago
Empowering Content Creators with iExec's DataProtector Tool
In the evolving landscape of content creation, creators often grapple with significant challenges such as ownership issues, unfair monetization models, and censorship. iExec aims to address these concerns by empowering developers with the 'DataProtector Monetize Version' development tool. This innovative tool enables developers to create applications that help content creators regain control over their work, monetize it fairly, and protect their creative freedom. The Content Creator Demo App serves as a prime example, providing a template for developers to build solutions that tackle the pressing issues faced by content creators today. One of the most pressing challenges for content creators is the lack of ownership over their creations. In the traditional Web2 environment, platforms often retain control over the content, which can lead to arbitrary removals and restrictions. iExec's DataProtector module allows developers to create decentralized applications (dApps) that ensure creators maintain true ownership of their work. By encrypting content and recording ownership on the blockchain, creators can secure their digital assets, grant or revoke access as needed, and protect their work from unauthorized alterations. This shift not only empowers creators but also ensures they can monetize their content without the fear of losing control. Moreover, the monetization landscape for content creators is often skewed in favor of platforms, leaving creators with minimal earnings despite their hard work. iExec's DataProtector tool facilitates the development of applications that enable creators to rent, sell, or offer subscriptions for their content, utilizing blockchain technology to ensure fair compensation through smart contracts. The Content Creator Demo App exemplifies how developers can build solutions that bypass traditional platform constraints, allowing creators to express themselves freely and monetize their work directly. As developers harness the capabilities of the DataProtector tool, they can significantly contribute to a more equitable and decentralized creator economy.