TAOHashPrice

(SN14)

TAOHash (SN14) is a Bittensor subnet specifically designed to decentralize Proof-of-Work (PoW) mining, primarily for Bitcoin. Its core mission is to establish a truly transparent and equitable mining environment, addressing issues of centralization often found in traditional mining pools. By leveraging Bittensor's incentive mechanisms, TAOHash strives to create a system where miners can contribute their computational power and receive fair, auditable rewards, fostering a more distributed and accessible mining ecosystem for Bitcoin.

Miners on TAOHash benefit from a dual reward system. Firstly, they earn direct Bitcoin (BTC) through the innovative TIDES protocol, proportional to the work they contribute when a block is successfully found. Secondly, for those registered as miners on Bittensor, they receive Alpha tokens. These Alpha tokens are valued based on their hashrate contribution, specifically at 5% of the hashpower provided. This dual incentive approach allows miners to accumulate value from both Bitcoin earnings and their participation within the Bittensor ecosystem.

The TIDES protocol is a foundational component of TAOHash, hailed as one of the fairest Proof-of-Work mining systems available. Its primary function is to ensure auditable rewards for miners directly through the blockchain. When a block is discovered, miners receive Bitcoin (BTC) based precisely on the proportion of work they contributed within the designated TIDES window. This mechanism promotes transparency by making the reward distribution verifiable on-chain and enhances fairness by directly correlating a miner's earnings with their actual computational effort.

Miners in the TAOHash network enjoy several significant advantages. Foremost is the opportunity for dual earnings, allowing them to stack value by receiving both direct Bitcoin (BTC) and Alpha tokens. The system offers fair pooled mining, ensuring that contributions are accurately recognized and rewarded without bias. Furthermore, TAOHash promotes transparent operations, granting clear visibility into the mining process and reward distribution. Its permissionless access, free from sign-ups or KYC, makes it highly accessible for anyone globally looking to engage in decentralized Bitcoin mining.

The long-term vision for TAOHash extends beyond its current decentralized mining operations. The project aims to evolve into a comprehensive public marketplace for hashrate, underpinned by smart contracts. This ambitious goal suggests a future where computational power can be traded and utilized with enhanced security and efficiency on-chain. Additionally, there are discussions within the community regarding the potential distribution of some of the Bitcoin pool fees directly to token holders in the future, further aligning the interests of the community with the project's success and growth.

TAOHash functions as a dedicated subnet within the expansive Bittensor ecosystem, which is crucial for its operation and stability. It significantly leverages Bittensor's infrastructure for various core functionalities. This includes utilizing Bittensor incentives to reward miners and validators, ensuring efficient subnet synchronization, managing hotkey registrations for participants, and facilitating on-chain weight management. This deep integration allows TAOHash to benefit from Bittensor's established blockchain capabilities, providing a secure and decentralized foundation for its specialized Bitcoin mining operations.