MATRIX AI Network (MAN) is a global open-source, public, intelligent blockchain-based distributed computing platform and operating system that combines artificial intelligence (AI) and blockchain. MATRIX AI Network was created to make blockchains faster, more flexible, more secure, and more intelligent.
“We are building a blockchain that people will actually be able to use,” explains MATRIX AI Network CEO Owen Tao, “While the entire blockchain industry should be thankful to Ethereum for popularizing the concept, Ethereum smart contracts are, quite simply, not smart enough.”
MATRIX AI Network solves the key challenges currently facing blockchain and cryptocurrency development. These include (1) slow transaction speed; (2) programming barrier of smart contracts; (3) lack of security in smart contracts; and (4) inflexibilities in managing and updating blockchains.
What Are The Features of MATRIX?
What does MATRIX AI Network offer that is different from the normal blockchain? MATRIX AI Network differentiates itself from previous blockchains by offering breakthrough technologies in building AI-enabled autonomous and self-optimizing blockchain networks, which feature multi-chain collaboration and decoupling of data and control blocks.
Let’s see some of the key features of MATRIX AI Network:
1. It’s Easier
Here’s a fun fact: only about 20 million of the world’s population can actually program. This is not good news for the widespread adoption of blockchain technology. MATRIX AI Network allows smart contracts to be used by anyone. The user simply types or speaks the smart contract features that they want to include and MATRIX AI Network’s Intelligent Contract automatically handles the coding. This is possible because the MATRIX AI Network team performed extensive semantic analysis of countless open source smart contracts to develop a proprietary deep learning model. This deep learning model allows the MATRIX Semantic Analysis Engine to perform semantic analysis on Intelligent Contracts. MATRIX’s unique approach is to use natural language to automatically convert user intent into a smart contract code.
2. It’s Safer
MATRIX AI Network offers a powerful AI-based security framework consisting of four major components, 1) a rule-based semantic and syntactic analysis engine for smart contracts, 2) a formal verification toolkit to prove the security properties of smart contracts, 3) an AI-based detection engine for transaction model identification and security checking, and 4) a deep learning-based platform for dynamic security verification and enhancement.
3. It’s Faster
MATRIX AI NETWORK has come up with an ingenious solution for speed, adopting a Hybrid PoS + PoW consensus mechanism, instead of the traditional PoW Hash computations. Its unique and dynamic hierarchy generation enables superior transaction speeds. Since slow transaction speeds have a direct negative impact on the user experience and limits mainstream blockchain technology adoption, the team at MATRIX AI Network created a dynamic delegation network using a distributed clustering algorithm to exchange transaction information and perform Proof of Work (PoW) computations resulting in throughput speeds exceeding 50,000 transactions per second (TPS) in its most recent tests. This is much faster than Bitcoin, Ethereum and EOS – even surpassing the TPS of PayPal and Visa.
4. It’s Flexible
Hard forks are a common occurrence in any cryptocurrency, splitting the community that later leads to the devaluation of the digital asset. But the MATRIX AI Network uses AI-based coordination to avoid triggering it. The MATRIX AI Network adapts to changes by adjusting its parameters accordingly. The optimization paradigm utilized by MATRIX AI Network ensures dynamic updating of parameters for near-optimal performance without the risk of incurring a hard fork.
Who Will Use MATRIX AI NETWORK?
There are three major groups of users for the MATRIX AI Network. Computing Facilities will look to MATRIX AI Network to provide an infrastructure for providing AI services, smart contract execution, application release, and transaction processing. Application Providers will look to MATRIX AI Network to perform high-end AI applications such as industry data analytics and large-scale learning tasks; autonomous execution of highly complex smart contracts that require no human intervention; and enforcing regular smart contracts to ordinary tasks. Finally, Customers who own or use excess computing power, application providers and users who purchase goods or services on the blockchain will rely on MATRIX AI Network’s advanced technology.
In 2018, MATRIX AI Network announced that it was the only blockchain project to secure a strategic partnership with China’s trillion-dollar One Belt One Road (OBOR) initiative. MATRIX AI Network is assisting with training and consultation in both AI and blockchain related fields and act as the primary application platform for the center. In addition, all OBOR contracts relating to blockchain will go through MATRIX AI Network.
This past May, MATRIX AI Network announced its second partnership related to OBOR, this time with the International Digital Asset Company (IDA). IDA is an asset digitization and tracking company that primarily focuses on OBOR ventures. As of today, IDA holds approximately 3 billion USD worth of assets in the form of natural resources. The partnership between IDA and MATRIX AI Network will allow these natural resources to be further digitized using the MATRIX AI Network blockchain. This will allow assets to be more easily and efficiently tracked and the ability to transfer value quicker and easier. IDA will also be among one of the first dApps to launch on the MATRIX AI Network blockchain.
MATRIX AI Network is working with Bit.Game and the Global Blockchain Games League for tokenized online games.
MATRIX AI Network is working with Beijing Cancer Hospital on an image based medical diagnosis system. The goal is to use the MATRIX AI engine to quickly diagnose and recommend treatment solutions for diseases.
The MATRIX AI Network has moved far beyond theory and initial token sale marketing to testnet as a prelude to the scheduled launch of its Main Network on December 30, 2018.
The company’s open-source public blockchain, optimized through artificial intelligence technology, is poised to revolutionize medical diagnosis, finance and credit, gaming, video analytics, digital asset tracking, transportation, image recognition, neuroscience and, decentralized exchange. “Ordinary users can use MATRIX AI Network to manage their assets easily and securely. Developers can use MATRIX AI Network to build batter DApps. Large companies can use MATRIX AI Network to launch private chains,” explains Tao, “I honestly believe we have the best vision and team in the blockchain space.”
If you are interested in even more business-related articles and information from us here at Bit Rebels then we have a lot to choose from.
COMMENTS