Competitors and Market Analysis

AI has driven growth in the stock markets since early 2023, with NVidia being the ‘flagship’ of AI-driven growth. Although not directly an AI company, NVidia’s chips are being used to train AI and LLM across the board, and everyone wants in on the action. ARM, AMD, and other chip-producing competitors have also seen dramatic growth in the past 15 months due to AI developments and the hype behind them. The market size for AI products is predicted to be $594bn by 2032, just eight years from now.

At the same time that this is occurring, sentiment is returning to the blockchain industry. At the time of writing this, Bitcoin is sitting at $66000 - only 4% away from it's all-time high in 2021. With AI and blockchain positioned to take off, Tenesereum is ideally placed to be a leader in the distributed AI space.

Tensereum is not alone in building a product that intertwines blockchain and AI. A few others are doing (or attempting to do) either similar things as direct competitors or different things as protocols Tenesereum could work with symbiotically. Let’s look at some of the projects in the same or similar space.

Bittensor is the protocol attempting to do the most similar to Tensereum through its distributed subnets. Although an interesting project, Bittensor, and its token TAO come with some significant flaws and difficulties. The documentation that the project has published is extremely difficult to comprehend fully. Although it uses a lot of buzzwords to ensure investors stay interested, it does seem to have created an extremely convoluted system for its distributed AI network. It is also non-EVM compatible, which means users familiar with the Ethereum and L2 ecosystem will not be able to use their favorite EVM wallet, such as Metamask, to use the network. The final issue with TAO is the fees. Even with relatively low network adoption, the gas fees for making a transaction easily exceed $50 - this creates a large barrier to entry, leaving access only to those with large amounts of disposable income.

Render is another project working similarly in space. Like Bittensor it is sitting in the top 50 of all cryptocurrencies by market cap. Render and its token RNDR are not direct competitors to Tensereum as they offer a slightly different service. Render could be summed up as a distributed GPU farm. Users with spare GPUs can earn money by allowing them to utilize their graphics cards on the Render network. GPU can be used for a huge number of things other than AI, including rendering videos and graphics, which is where the name has been chosen. Render is a project that can run successfully simultaneously with Tensereum without being a risk to the project's growth.

Others are entering the space - or at least trying to. Fetch, Qubit, ArgoCoin, and AI Power Grid are just a few examples of projects that have been released recently - and there are many more, too. A lot of the projects that are coming out are simply tokens at this point in time and do not yet have a working product. Some do not even seem to have documentation or a plan for a working product and are possibly just using the AI hype to make money from current consumer sentiment. Render is the only one with a fully working product, and their product is not a direct competitor. Tensereum sets itself apart with its EVM mining. With its PoAI consensus and by simplifying a complex distributed network in a way that means users don’t have to learn how to interact with something utterly new due to EVM compatibility, Tensereum is set to take over the distributed AI market and contribute to the paradigm shift that is distributed AI technology.

Competitors and Market Analysis

AI has driven growth in the stock markets since early 2023, with NVidia being the ‘flagship’ of AI-driven growth. Although not directly an AI company, NVidia’s chips are being used to train AI and LLM across the board, and everyone wants in on the action. ARM, AMD, and other chip-producing competitors have also seen dramatic growth in the past 15 months due to AI developments and the hype behind them. The market size for AI products is predicted to be $594bn by 2032, just eight years from now.

At the same time that this is occurring, sentiment is returning to the blockchain industry. At the time of writing this, Bitcoin is sitting at $66000 - only 4% away from it's all-time high in 2021. With AI and blockchain positioned to take off, Tenesereum is ideally placed to be a leader in the distributed AI space.

Tensereum is not alone in building a product that intertwines blockchain and AI. A few others are doing (or attempting to do) either similar things as direct competitors or different things as protocols Tenesereum could work with symbiotically. Let’s look at some of the projects in the same or similar space.

Bittensor is the protocol attempting to do the most similar to Tensereum through its distributed subnets. Although an interesting project, Bittensor, and its token TAO come with some significant flaws and difficulties. The documentation that the project has published is extremely difficult to comprehend fully. Although it uses a lot of buzzwords to ensure investors stay interested, it does seem to have created an extremely convoluted system for its distributed AI network. It is also non-EVM compatible, which means users familiar with the Ethereum and L2 ecosystem will not be able to use their favorite EVM wallet, such as Metamask, to use the network. The final issue with TAO is the fees. Even with relatively low network adoption, the gas fees for making a transaction easily exceed $50 - this creates a large barrier to entry, leaving access only to those with large amounts of disposable income.

Render is another project working similarly in space. Like Bittensor it is sitting in the top 50 of all cryptocurrencies by market cap. Render and its token RNDR are not direct competitors to Tensereum as they offer a slightly different service. Render could be summed up as a distributed GPU farm. Users with spare GPUs can earn money by allowing them to utilize their graphics cards on the Render network. GPU can be used for a huge number of things other than AI, including rendering videos and graphics, which is where the name has been chosen. Render is a project that can run successfully simultaneously with Tensereum without being a risk to the project's growth.

Others are entering the space - or at least trying to. Fetch, Qubit, ArgoCoin, and AI Power Grid are just a few examples of projects that have been released recently - and there are many more, too. A lot of the projects that are coming out are simply tokens at this point in time and do not yet have a working product. Some do not even seem to have documentation or a plan for a working product and are possibly just using the AI hype to make money from current consumer sentiment. Render is the only one with a fully working product, and their product is not a direct competitor. Tensereum sets itself apart with its EVM mining. With its PoAI consensus and by simplifying a complex distributed network in a way that means users don’t have to learn how to interact with something utterly new due to EVM compatibility, Tensereum is set to take over the distributed AI market and contribute to the paradigm shift that is distributed AI technology.