Bittensor TAO Crypto to $1,000?! Here’s Why It Could 10x SOON!

Summary

Bensa is a rising cryptocurrency in the AI niche, co-founded by Jacob Robert Steves, who has ties to DARPA and Google. Despite its rapid growth, many remain unclear about its functionality. Bensa offers decentralized computing for AI through a unique consensus mechanism and has significant investor backing. However, it faces challenges such as a lack of clear communication, limited adoption, and inflation concerns due to high token mining rates. Upcoming features like EVM-style smart contracts could enhance its utility, making it an intriguing project in the evolving crypto landscape.

Takeaways

• 🚀 Bensa is a leading cryptocurrency in the AI niche, having gained traction despite limited understanding of its functionality.
• 🛠️ The project was co-founded by Jacob Robert Steves and Allah Shabana, with roots tracing back to DARPA, indicating a significant technological foundation.
• 💰 Major early investors include Polychain Capital and Digital Currency Group, who allocated substantial funding prior to Bensa's official launch.
• 📊 Bensa operates on a unique consensus mechanism called Yuma Consensus, which assesses miner performance to allocate rewards across multiple active subnets.
• 🌐 The platform currently supports 52 subnets, each dedicated to various AI use cases, though few applications are actively utilizing its technology.
• 📈 Despite high inflation of its native token, To, which is set at 7,200 tokens per day until 2025, the price remains surprisingly resilient.
• 💼 Institutional investment appears to be a driving factor in Bensa's market performance, linked to its military origins and the rising demand for AI computational power.
• ❓ Communication and clarity around Bensa's offerings pose significant challenges, limiting user adoption and understanding.
• 🔍 Concerns regarding tokenomics persist, particularly with a large amount of tokens held by early investors that could impact market dynamics if sold.
• 🌟 The upcoming introduction of EVM-style smart contracts could enhance the utility of Bensa’s subnets and potentially broaden its appeal in the market.

Q & A

What is Bensa and what niche does it occupy?

Bensa is a relatively new cryptocurrency that has emerged as the largest in the AI niche, despite many people not fully understanding its functionality or operational mechanisms.

Who are the co-founders of Bensa?

Bensa was co-founded by Jacob Robert Steves and Allah Shabana. Jacob previously worked with the Defense Advanced Research Projects Agency (DARPA) and Google, while Allah is an AI researcher who joined Bensa in 2019.

How was Bensa initially funded?

Bensa claims to have had a fair launch with no early investors, but it was initially funded through the sale of its tokens (Tow) to early miners, which suggests some level of pre-launch investment.

What is the significance of the investment from Polychain Capital and others?

Polychain Capital and other venture capital firms invested in Bensa prior to its launch, securing substantial allocations of Tow tokens, indicating institutional interest in the project.

How does Bensa's blockchain technology function?

Bensa's blockchain is built using the Substrate framework and operates using a novel consensus mechanism called Yuma consensus, which helps determine rewards for miners based on performance across various subnets.

What are the use cases for Bensa's subnets?

Bensa's subnets support various AI use cases, ranging from text prompts to image generation, but currently, there are limited applications actively leveraging this technology.

What challenges does Bensa face regarding adoption and utility?

Bensa faces challenges related to adoption, as there are currently no significant apps built on its platform, and its use cases are not widely recognized or easily accessible to regular users.

What potential does the future hold for the price of Tow?

The price of Tow could potentially increase significantly, possibly up to 10 times, driven by speculation and upcoming milestones like the introduction of EVM-style smart contracts.

Why is decentralization important for Bensa?

Decentralization is crucial for Bensa to potentially classify Tow as a commodity rather than an unregistered security, thus allowing it to be listed on US exchanges and ensuring greater operational independence.

What is the expected inflation rate for Tow, and what does it imply?

Tow has a high inflation rate, with 7,200 Tow being mined daily until the first halving in November 2025, which could exert downward pressure on its price unless balanced by increased demand.