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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Mode launches the subnet Synth on Bittensor to build a DecentralizationAI for predicting Cryptocurrency prices
PANews reported on January 27 that, according to The Block, the ETH Layer 2 project Mode launched a new subnet called Synth on Bittensor, which will use Bittensor's Decentralization architecture and develop AI functions to simulate the Fluctuation of asset prices. Synth involves "Miner" generating simulated price paths, which subnet validators evaluate based on historical data to ensure that they accurately reflect real-world price dynamics and fluctuation. Initially, Synth will have Miner generate 100 BTC simulated price paths every five minutes. Miners will be evaluated and rewarded based on their accuracy in modeling future price probability distributions and their ability to generalize real-world price dynamics.