Subnet 48: Quantum Compute — The Open Marketplace for Quantum Computing

By: Keik

Subnet 48 is Bittensor’s next leap: a marketplace for quantum computing will be available this Fall. It complements SN63 (Quantum Innovate), which acts as the R&D lab, by turning quantum research into a practical, usable platform. Operated by Qbittensor Labs and OpenQuantum, SN48 allows students, researchers, and corporate engineers to run real quantum circuits on commercial quantum computers or simulators. While SN63 focuses on testing and refining algorithms, SN48 brings those experiments to life in a marketplace, connecting users with compute resources in a decentralized ecosystem.

How it works?

Users access SN48 via OpenQuantum, a web interface that hides blockchain complexity. You choose a quantum provider, IonQ, ARIA2, or others, upload your circuit (CHASM file), and run it. The network routes these jobs to miners, who execute the circuits on simulators or quantum hardware. A free public plan is available, and a paid private option ensures speed, privacy, and data protection. This setup makes quantum computing accessible to anyone without owning expensive hardware, while miners earn rewards for providing compute resources.

Who are their customers?

SN48 serves three core groups:

• Quantum researchers & students → Run experiments and test algorithms without hardware limitations.
• Corporate engineers & enterprises → Access quantum computing for R&D projects.
• The Bittensor ecosystem & alpha holders → Benefit from network activity and ecosystem growth, bridging research with real-world utility.

How alpha holders benefit?

Alpha holders in SN48 gain from both usage and adoption. As more circuits run on the subnet, miners receive higher emission rewards, creating a virtuous cycle that increases token value. Staking in SN48 can give holders marketplace credits, providing early access to quantum computing resources. Essentially, SN48 transforms staking from passive yield into direct utility, allowing early participants to engage with the quantum marketplace and its emerging opportunities.

The investment case

The core thesis for Alpha in SN48 is simple: access and scarcity. Alpha is more than a passive staking token. It unlocks premium tiers of the subnet, giving holders priority access, speed, and privacy when running quantum circuits. As quantum demand grows among researchers, startups, and enterprises, Alpha becomes the ticket to scarce resources in the marketplace.

This dynamic creates a feedback loop:

More usage → higher need for premium access → stronger Alpha demand

Staking → credits and rewards → deeper holder engagement

Adoption → emission rewards → token scarcity → potential price appreciation

For investors, the question becomes: will enough users need private, reliable quantum compute to justify Alpha demand? If yes, then Alpha is positioned as both a utility asset and a speculative play on the rise of decentralized quantum computing.

The interplay with SN63

SN48 and SN63 form a complementary duo. SN63 drives innovation, hosting challenges that test the limits of quantum algorithms. SN48 then takes those solutions and deploys them in a usable marketplace. Together, they form a full-stack approach to decentralized quantum computing: one subnet experiments, the other commercializes. This ensures that breakthroughs in research immediately translate into real-world utility, benefiting users, miners, and alpha holders alike.

The takeaway

Subnet 48 isn’t just a marketplace; it’s where quantum research meets real-world application. By bridging the innovation of SN63 with usable compute resources, SN48 allows the Bittensor ecosystem to turn frontier experiments into practical quantum tools.

For TAO holders, staking or participating in SN48 is an early ticket into the quantum era, giving exposure to both the cutting-edge science of SN63 and the operational marketplace that brings it to life. The future of Bittensor will not just be neural networks, but quantum networks, and SN48 is the gateway.