⬜EVM Token Standards for Bittensor
BTS-20 chain with TAO as Gas
As we pave the way for a seamless integration of decentralized finance (DeFi) and artificial intelligence (AI), understanding the role of EVM Token Standards in this innovative convergence is crucial.
Introduction to EVM Standards on Bittensor
The Ethereum Virtual Machine (EVM) Token Standards are a set of criteria and technical specifications designed to ensure compatibility and functionality of tokens within the Ethereum ecosystem. By adopting these standards, HotKey enables the deployment, swapping, and bridging of tokens akin to operations on traditional EVM chains, but with a unique twist — leveraging the power of Bittensor decentralized AI.
Bittensor EVM - BTS-20 - chain with $TAO as Gas (Native token).
What is Bittensor?
Introduction to BittensorHotKey Bittensor SubNet
HotKeySwap's operation of a subnet within the Bittensor network is a strategic endeavor to bring the wealth of technologies of Bittensor collective CPU/GPU directly to our users. This initiative ensures that HotKeySwap users benefit from the collective advancements and innovations across the Bittensor ecosystem, from AI-enhanced trading insights to the latest in decentralized applications. By integrating these technologies, HotKeySwap not only enriches its DeFi platform but also fosters a dynamic environment where users can access and leverage the best of what the decentralized world has to offer, all in one place.
HotKey's Subnet on BittensorBTS-20: The Bittensor Standard
HotKey introduces its own token standard, the BTS-20, drawing inspiration from the well-known ERC-20 standard of Ethereum. This adaptation ensures that tokens within the BTS-20 network adhere to a recognized framework, facilitating:
Interoperability: Seamless interaction and exchange of tokens across different platforms and applications within the Bittensor ecosystem.
Consistency: A uniform token standard ensures predictability in token behavior, enhancing user confidence and system reliability.
Decentralized Intelligence Integration: BTS-20 tokens are uniquely positioned to integrate with Bittensor's decentralized AI network, enriching the tokens with AI-driven functionalities and applications.
Leveraging TAO as Gas
In the Bittensor network, TAO serves as the primary gas, akin to ETH on the Ethereum network. This mechanism ensures that transactions are processed efficiently, maintaining the network's integrity while incentivizing participation and contribution within the ecosystem.
Advantages of EVM Compatibility
Broadened Access: EVM compatibility opens up Bittensor to a wider audience familiar with Ethereum's operations, lowering the barrier to entry.
Enhanced Functionality: Developers can create more complex and functional dApps, leveraging the robust features of EVM standards combined with Bittensor's AI capabilities.
Streamlined Development: The use of established standards simplifies the development process, allowing creators to focus on innovation rather than basic token functionalities.
The adoption of EVM Token Standards to Bittensor introduced by HotKey marks a significant milestone in bridging the worlds of DeFi and AI. Through the BTS-20 standard and the use of TAO as gas, HotKey is set to offer a DeFi set of platforms that are not only efficient and scalable but also integrated with the cutting-edge capabilities of decentralized artificial intelligence.
Join us as we explore the limitless possibilities at the intersection of blockchain technology, AI and EVM standard within the HotKey ecosystem powered by Bittensor.
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