The Matrix AI Network is what you can call the next-generation blockchain technology. Just when everyone thought the blockchain technology has reached its heights, Matrix brought into the picture the dimension of Artificial Intelligence making blockchain more revolutionized.
What is the Matrix AI Network?
Launched by the name of MatrixChain, the network has been among the most anticipated projects of 2018. Matrix has been designed to become the new-generation blockchain by employing the most advanced Artificial Intelligence technology to rebuild the entire existing structure of blockchain. It is an open-source blockchain platform built to support machine learning services and smart contracts.
It aims to make the execution of smart contracts safer, faster, and easier by using AI techniques. By offering path-breaking technologies in building AI-controlled autonomous blockchain networks, Matrix aims to go on to become the next best thing in the blockchain landscape.
Blockchains built on the MatrixChain platform would be self-optimizing that is to say the majority of maintenance will be done via AI. These blockchains will also have the capability to communicate cross-chain and use control blocks.
Features of Matrix
The MatrixChain is being positioned as the Intelligent Blockchain primarily owing to the following key features:
- A Faster Blockchain: Matrix aims to work on a fresh dynamic hierarchy which will enable faster transaction speed. The team objective here is to outperform the presently leading payments and deliver a record of at least 1M transactions each second.
Matrix aims to achieve this through the process of generating a dynamic hierarchy in the blockchain network where a distributed clustering algorithm will be devised to cluster nodes into different groups. Each group of nodes will vote a delegate node which will form a temporary P2P network for exchanging transaction information and proof-of-work calculations. This proof-of-work reward will then be shared with all the other nodes in the cluster.
- An Easier Blockchain: Blockchain developed on Matrix will be easier to operate since it requires zero expertise for designing smart contracts. The Matrix platform will allow you to use natural language to implement a smart contract.
The Matrix team believes it is essential to have such a system since most people who can write or speak a language cannot perform a programming operation. Therefore, Matrix aims at expanding the depths of blockchain applications by making the generation of contracts automatic.
- A more Flexible Blockchain: Since Matrix allows the use of natural languages for implementing smart contracts, it offers a blockchain that is much flexible than the ones already existing. Flexibility here is to be understood as how dynamically Matrix will be able to accommodate the varying parameters to adjust to the needs of the market.
- A Safer Blockchain: Similar to most blockchain platforms, Matrix wants to protect the users’ digital assets against malicious attacks. The difference lies in the fact that Matrix employs AI to accomplish this task.
The network will offer a wholesome security framework built-up of four major components:
- A syntactic and semantic analysis engine for smart contracts.
- A verification toolkit to verify the security properties of those contracts.
- An Artificial-Intelligence-based engine to detect and identify the transaction model
- A learning-based platform for dynamic security checking and improvement.
Objectives of Matrix—Features summarized.
With a dramatic development in the blockchain technology, Matrix aims at achieving the following objectives:
- Automatic generation of smart contracts,
- Secured smart contracts
- High-speed transactions
- Flexible blockchain management
- Value-added mining, where Matrix introduces the concept of a new mining mechanism—the MCMC Computation—which helps in connecting the values in the physical and the virtual worlds easily.
MatrixChain has partnered with SmartMesh, Hyperledger, and Blockchain Expo and is expected to launch in March 2019.
From the total number of 1 billion MAN (official token of the platform), 150 million tokens have been distributed in the presale of which 100 million belong to the Matrix Foundation. 200 million tokens have been reserved for upcoming public sale and another 150 million have been kept reserved for the management, directors, staff incentives, and the final 400 million will be used as POW miners’ rewards.
The Bottom Line
With the aim of offering a blockchain technology that is faster, more reliable, safer, and most of all, more flexible, the Matrix AI Network appears to be a project that is bound to break the records of the blockchain technology. It would be interesting to see how its public sale performs since Artificial Intelligence and computation are areas that hold the interest of the majority of ambitious technologists.
With its proprietary distributed clustering algorithm and the generation of a hierarchy within the network, Matrix sure can take blockchain transactions to the next level. At present, it can perform 1000 transactions per second—100 times the number performed by Ethereum—and with its target of performing 1M per second, it holds the potential to chart new landscapes in the blockchain technology.