@dknoller
I'm currently a developer on one of the bittensor subnets, so will give a slightly more specific breakdown here:
1. Bittensor, at its core, is a Polkadot Subtrate based L1 with a unique token emission schedule
2. Within bittensor exist a currently fixed number of subnetworks, or subnets. Every block (roughly 12s), the TAO token is printed and sent across all subnets (simplified)
3. The token emission for each subnet is broken down into three destinations: validators (akin to stakers), miners, and subnet operators
4. For each subnet, the subnet operator decides what the mechanism for validation should be, and how the miner distribution is calculated.
5. This emission control is what allows bittensor subnets to deliver projects based on AI, trading, and any other platform that could benefit from this token emission model
There is a lot more to what I summarized above, but hope this helps anyone looking for a TL;DR of bittensor !
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