📣 Official Bittensor Update (2023-10-09T21:02:28.514000+00:00)

Hey @everyone

Last week, we went into Revolution’s launch carefully by selecting hyper-parameters for things like the max number of subnets and their lock cost to reduce churn and increase stability. Thankfully everything was a success and so we are confident about reducing limitations on subnet creation going forward this week. We’ve also shored up some hyper parameters based on feedback from the community. Here are the updates:

1. Increased Subnet Limit from 12 to 32, this will increase the upper bound on the number of active subnets.
2. Decreased Subnet lock reduction interval from 14 days to 2, this will reduce subnet creation cost dramatically.
3. Turned off POW for all newly created subnets as well as POW for all previously created subnets for consistency.
4. Reduced subnet tempo from 1000 to 360 blocks to speed up network update time.
5. Reduced subnet adjustment interval from 500 to 360 to speed up burn update.
6. Reduced subnet lock min cost from 1000 to 100 TAO.

To follow how these updates play out in the following 24 hours, see https://taostats.io/

Happy mining,
– const