Crypto M - Crypto News

🚀 Bittensor Co-Founder Addresses Covenant AI Incident and Future Plans On April 12, Bittensor co-founder Jacob Robert Steeves responded to the Covenant AI incident, expressing his shock over recent developments. According to BlockBeats, Steeves accused Covenant AI founder Samuel Dare of actions that severely harmed the protocol and community, betraying the trust of investors and users. He apologized to those affected by the incident. Steeves stated that Bittensor was designed to combat greed and selfishness by enabling collective ownership of AI through a permissionless mechanism. He acknowledged that the incident exposed vulnerabilities in the system but also highlighted the opportunity to strengthen the protocol and community's resilience. Looking ahead, Steeves proposed advancing a "Locked Stake" mechanism, introducing a "time + stake" commitment dimension at the protocol level to enhance transparency and investor protection, thereby reducing similar risks. He noted that this plan was initially designed with Samuel Dare's involvement. Furthermore, Steeves mentioned that the development of subnets 3, 39, and 81 will continue under community leadership, with no changes to their overall functionality and vision. He emphasized that Bittensor remains one of the most decentralized AI protocols and will continue to promote open AI development, with plans to advance towards training larger-scale models, including a trillion-parameter model in the future. #Bittensor#CovenantAI#JacobRobertSteeves#SamuelDare#AI#Blockchain#DecentralizedAI#InvestorProtection#LockedStake#AIProtocol#CommunityLeadership#OpenAI#FuturePlans#TrillionParameterModel#TAO

🚀 Bittensor Experiences Significant Market Value Loss Following Covenant AI Departure Bittensor's market value dropped by nearly $900 million after Covenant AI announced its departure from the network. According to NS3.AI, CryptoSlate data revealed that TAO, Bittensor's native token, fell 27% from $338 to $285 within approximately two hours before slightly recovering to $294. CoinGlass data indicated that the event led to $11 million in long liquidations. The split has highlighted a governance dispute between Covenant AI founder Sam Dare and Bittensor co-founder Jacob Steeves. #Bittensor#MarketValueLoss#CovenantAI#TAO#Crypto#NS3AI#CryptoSlate#CoinGlass#Liquidations#GovernanceDispute#SamDare#JacobSteeves

🚀 Bitcoin Leads in Social Dominance with Ethereum and XRP Following Bitcoin has emerged as the leader in social dominance, capturing 33.55% of the market, according to NS3.AI. Ethereum follows with an 11.85% share, while XRP holds 2.6%. In terms of AI search volume, both Solana Foundation and Ethereum recorded 11%, surpassing Aave, Polygon, and Bittensor. #Bitcoin#Ethereum#XRP#Solana#Aave#Polygon#Bittensor#Cryptocurrency#AI#MarketShare#SocialDominance#BTC#ETH

🚀 Monero and Zcash Expected to Launch on Mainnet Soon Monero (XMR) is anticipated to go live on the mainnet within one to two months, according to Foresight News. The chain client pull request has successfully passed simulation testing. To address privacy observation issues with XMR, THORChain plans to create a dedicated Asgard vault composed of all validator nodes. In parallel, Bittensor (TAO) is being developed alongside Monero, aiming for a simultaneous launch. Additionally, Zcash (ZEC) is expected to launch on the mainnet by the end of April. #Monero#XMR#Zcash#ZEC#Mainnet#Blockchain#Cryptocurrency#THORChain#Bittensor#PrivacyCoins#TAO