On January 27, according to The Block, Mode, a Layer 2 project on Ethereum blockchain, announced the launch of a subnet called Synth on Bittensor, aimed at developing an AI-based encryption asset price prediction system. As a member of the Optimism Superchain ecosystem, Mode will provide infrastructure for AI-driven financial modeling through this subnet.
Mode co-founder James Ross said that Synth will use Bittensor’s decentralized architecture to model asset price volatility. In the system design, ‘miners’ will generate 100 simulated price paths for Bitcoin every 5 minutes, and subnet validators will evaluate their accuracy based on historical data and reward miners with TAO tokens for outstanding performance.
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