Bittensor and Native Join Forces to Launch a $25 Million Onchain Insurance Program for AI Protocol Users
In a groundbreaking collaboration, Bittensor, a decentralized artificial intelligence (AI) protocol, and Native, a digital asset insurer, have announced the launch of a $25 million onchain insurance program designed to safeguard the assets of Bittensor network users. This partnership marks a significant step forward in the integration of decentralized finance (DeFi) and insurance, providing an added layer of security for those participating in the rapidly growing AI sector.
About Bittensor
Bittensor is an open-source AI protocol that utilizes a decentralized network of computers to train AI models and sell the resulting predictions as a service. By harnessing the collective computing power of its user base, Bittensor aims to democratize AI and create a more accessible and equitable ecosystem. This innovative approach has gained traction in the industry, attracting a growing community of users and developers.
The Native Insurance Partnership
Native, a leading digital asset insurer, has recognized the potential of the Bittensor platform and the need for insurance coverage in the DeFi space. The $25 million onchain insurance program will provide protection against smart contract risks, ensuring that users’ assets are secure as they engage in AI model training and prediction market activities on the Bittensor network.
Benefits for Users
For individual users, this partnership offers peace of mind as they participate in the Bittensor ecosystem. The insurance coverage will mitigate the risks associated with smart contract interactions, ensuring that users’ assets are protected against potential losses due to bugs, exploits, or other unforeseen circumstances.
Impact on the DeFi and AI Industries
This collaboration between Bittensor and Native is expected to have a ripple effect on the DeFi and AI industries. By integrating insurance coverage into decentralized platforms, the risk profile of participating in DeFi and AI projects is significantly reduced. This, in turn, may attract more users and investors to these emerging markets, driving growth and innovation.
Additional Insights
According to a recent report by Deloitte, the global AI market is projected to reach $190 billion by 2025. With the increasing adoption of AI technologies and the growth of the DeFi sector, the need for robust insurance solutions becomes increasingly important. The Bittensor-Native partnership is a significant step in addressing this need and demonstrates the potential for collaboration between traditional insurers and decentralized platforms.
Conclusion
The partnership between Bittensor and Native represents a major milestone in the integration of decentralized finance and insurance, providing an added layer of security for users participating in the AI sector. This collaboration not only benefits individual users but also has the potential to drive growth and innovation in the DeFi and AI industries as a whole. As the adoption of decentralized technologies continues to gain momentum, we can expect to see more collaborations between traditional industries and decentralized platforms, paving the way for a more secure and accessible future.
- Bittensor is a decentralized AI protocol that utilizes a decentralized network of computers to train AI models and sell the resulting predictions as a service.
- Native is a digital asset insurer that has partnered with Bittensor to launch a $25 million onchain insurance program for network users.
- The insurance program provides protection against smart contract risks, ensuring that users’ assets are secure as they engage in AI model training and prediction market activities on the Bittensor network.
- This collaboration is expected to have a ripple effect on the DeFi and AI industries, driving growth and innovation by reducing the risks associated with participating in decentralized projects.
