Bittensor is the internet of digital commodities. It is an open source platform where you can produce competitive digital commodities, such as machine intelligence, storage space, compute power, protein folding, financial markets prediction, and many more.
Each category of the digital commodity is produced in a distinct subnet. Applications that are digital commodity-specific are built on these specific subnets. End-users of these applications would be served by these applications.
Subnets are off-chain competitions where only the best producers are rewarded. A subnet consists of off-chain subnet validators who initiate the competition for a specific digital commodity, and off-chain subnet miners who compete and respond by producing the best quality digital commodity. Scores are assigned to top subnet miners and subnet validators. The on-chain Yuma Consensus determines the TAO rewards for these top performers.