#减半机制 Halving这个词，在encryption世界里从来都不是小事。

The first Halving of Bittensor is approaching on December 14th, which reminds me of the early stories of Bitcoin—supply halved, scarcity instantly upgraded. The daily production of TAO drops from 7200 to 3600, which sounds like a cold number, but the logic behind it shines brightly: when the circulating chips are compressed by another 50% from an already scarce state, the market will inevitably face a repricing.

What's more interesting is that Bittensor is not just hyping scarcity - it is building a real decentralized AI infrastructure. With 129 subnets, ranging from serverless computing to AI agent development, each is competing for the incentive pool. When the Halving arrives, this competition will become more brutal, inefficient projects will be eliminated, and models with real utility will stand out. This is not merely a supply shock, but a watershed moment for the network transitioning from speculation to practical application.

The influx of institutional funds speaks volumes—Polychain, DCG, and Europe's TAO ETP are opening compliant channels. Computing power is being redefined as an asset of the new era, and TAO is anchoring this concept with a Bitcoin-like scarcity mechanism.

At this moment, what we see is not just a technological event, but also proof of decentralized AI moving from concept to reality.