Bittensor Launches $25M On-Chain Coverage for Network Security

Bittensor, a decentralized AI network, has announced the introduction of a $25 million on-chain coverage program to safeguard its network participants. This innovative initiative aims to provide comprehensive protection against potential risks and vulnerabilities, further enhancing the security and stability of the Bittensor network.

The on-chain coverage program is designed to cover a wide range of potential risks, including smart contract vulnerabilities, oracle manipulation, and other security threats. By providing this coverage, Bittensor seeks to foster a more secure and resilient ecosystem for its network participants, encouraging greater adoption and engagement within the community.

The $25 million fund will be allocated to cover potential losses incurred by network participants in the event of a security breach or other unforeseen incidents. This coverage will be provided through a decentralized insurance pool, which will be managed and governed by the Bittensor community. The insurance pool will be funded through a combination of network fees and a portion of the block rewards generated by the Bittensor network.

Bittensor's on-chain coverage program is a significant step forward in the development of decentralized AI networks. By prioritizing the security and stability of its network, Bittensor is setting a new standard for the industry and demonstrating its commitment to the long-term success of its community.

The introduction of the on-chain coverage program comes at a time when the cryptocurrency industry is facing increasing scrutiny and regulation. As the industry continues to grow and evolve, it is crucial for projects like Bittensor to prioritize the security and stability of their networks. By doing so, Bittensor is not only protecting its own network but also contributing to the broader development and adoption of decentralized AI technologies.