# Decentralisation Day

Every proof-of-work project starts as a codebase and a lot of skepticism: why
would we ever need another coin? Only the project team and a few believers are
willing to back it. Then the magic happens — a mix of curiosity and low
difficulty attracts other people; they look at the codebase, see the value, and
take the time and effort to deploy resources.

This is, and continues to be, the TensorCash story. But this feels like the
right moment to take stock, say a big thank you, and look forward to an
exciting future.

Thank you to all the pools that integrated so quickly, patiently and
transparently: Aria, Boblabs, LuckyPool, Suprnova, Tiger. Thank you to the solo
miners. Thank you to everyone who read the code and came back with questions
and feedback. And a preemptive thank you to those who are and will be
integrating TensorCash.

At this point we are comfortable saying the project is as much in your hands as
it is the dev team's — decentralisation in action. Around 850 distinct
addresses have earned mining rewards over the last four weeks. Competing pool
offerings exist, and a healthy ecosystem is developing around them. Roughly a fifth of all coins ever mined now sit with
addresses that never mined them — exchanged over-the-counter and peer-to-peer.
And within a week of a first CEX listing, volume equal to more than 8% of all
mined coins had already crossed its order book.

Liquidity always begs the question of who is buying and who is selling. Early
miners who discovered and bet on the project are starting to see the results of
their effort; people discovering the project today can weigh a purchase against
mining; and a healthy mix of views is what makes price discovery work. One
thing should be obvious: those who wrote the code and stabilised the network
are not going anywhere. The statement below will bear the genesis key's own
signature — take the same comfort from that as holders of our more famous
siblings do.

Before looking at what's next — and there is a lot — it is worth celebrating
how smooth and operationally sound the journey has been. This is no ordinary
fork. You have seen the TensorCash magic — inference in the block — and you
have not seen stalls, forks or instability. That is despite the chain
overcoming a number of non-trivial operational conundrums. To name a few:

- **Floating-point non-determinism.** Inference is fuzzy and nothing can change
  that — normally fork-festival territory. We solved it.
- **Proof of time against DDoS and reorgs.** Our proof travels in the block
  body, so we made time and ticks travel with the header — frustrating
  malicious reorgs and spam alike.
- **Liveness protection.** Nakamoto miners can leave and join at will — but why
  not use the people who stick around to further protect the network?
- **Diffusion vs. verification.** Full verification takes time and should not
  hold back block propagation. We made the two not mutually exclusive.
- **Local vs. delegated verification.** A codebase external to the core node
  runs asynchronous verification — and can be delegated by light clients.

No one is resting here. This is just the very beginning. Here is what's next:

- **New models.** Pools are building images and running the benchmarks;
  registration is 100 blocks away from there.
- **AI revenues.** Harnesses that turn your computational power into revenue —
  sold to the best offer or consumed privately.
- **Compute-fi markets.**
- **Institutional stakeholders.**
- **Liquidity bridges, derivatives and a DEX.**

We want to call this Decentralisation Day. And, for posterity, we will put a
receipt behind it: when block 24,000 is mined, its hash will pick four
addresses at random from the first 2,000 blocks of this chain — named now,
before the block exists, so nobody, including us, can choose them. Those four
addresses will co-sign this statement together with the genesis key, whose
public half has been on-chain since block zero, and the statement's hash will
be committed on-chain — permanently timestamped, independently verifiable.
This text is frozen today; the draw, the signatures and the commitment will be
published below once block 24,000 is in.

Don't trust — verify.

— Imosuke Takakuni