The MATRIX is a new generation blockchain and essentially serves as the version 3.0 decentralized blockchain which is programmed to resolve a large number of present-day issues, such as:
- Slower transaction speed across the current network
- An existing programming barrier which essentially lacks the credentials to support “smart contracts”
- Significant lack in the arena of ensuring the security of payments and transactions, thus failing to maintain the anonymity of the user.
- Issues surrounding maintenance and updating of existing blockchain servers.
The timeline of MATRIX
The MATRIX is designed to function as a mechanized network and saw its inception in September 2016, when the project was officially launched.
Across January and May of 2017, the blockchain designed to be integrated into the MATRIX was successfully sculptured. The testing of this first edition AI took place in July of 2017. The first ever MATRIX system application was deemed online in December of 2017.
The development of the MATRIX is expected to be completed by June of 2018 with the first testable version being introduced in the market around March of the same year. The company expects to begin with the commercial application setup of the MATRIX by September of 2018. The company plans on establishing the “initial coin offering” (ICO) by the end of January 2018.
Key aspects of the MATRIX
The MATRIX enables the edifice of an “autonomous AI enabled blockchain network” which is integrated with the ability to collaborate multiple chain networks across a single unified platform.
In simpler terms, the MATRIX can be identified as an easier, safer, faster and more flexible blockchain network integrated with AI technology.
One of the most important aspects of MATRIX as an easier blockchain tends to be the fact that the user does not need to possess any form of expert programming knowledge to design their smart contracts.
The integration of smart contracts on this network can be brought about using conventional skills based on natural language.
When compared to the Ethereum, the MATRIX is able to compensate for the non-programming proportion which comprises almost 99.6% of the Cryptocurrency network. This is a testament to the fact that programming essentials are present across only 0.3% of the total crypto-currency user network.
What makes MATRIX easier, safer and more flexible?
At the company, we have been successful at integrating the MATRIX AI with a “text recognition feature” which is seemingly the first of its kind. This brings forth the concept of “Automatic Code Generation”.
The input of the contract is brought forth in the natural language which is then incorporated into the “convolutional neural network”. The Neural Network primarily features “text recognition” which is the basic element of “code generation”. The code generation is an automated process which is initiated by the 3rd generation AI of the MATRIX ensuring that everyone can have easier access to the blockchain network.
Security is among the first priorities of the MATRIX Network. The security framework of MATRIX has been integrated with 4 major components that differentiate it from the existing blockchain technologies.
- A “Semantic and syntactic” analysis engine which is designed for the smart contracts.
- An integrated “formal verification toolkit” which enables the system to prove the security properties of the smart contract.
- An “AI-based detection engine” which is associated with the aspects of identifying the transaction model and also the security protocols.
- MATRIX is based on a platform which initiates “dynamic security verification protocols” systematically designed to suit various parameters which address any missing link, bug or vulnerabilities in the smart contract.
The MATRIX integrates a lot of features which help to significantly enhance the network security. There are a certain set of features which also makes MATRIX more flexible.
The integration of public and private chains along the MATRIX network is structured on AI coordination. The system is based on the credentials of the intelligent AI network and extensively easier to use.
The blockchain parameters in the MATRIX network are updated in a dynamic manner with reference to the external conditions. Therefore, the risk of “hard fork” is significantly decreased with the release of each software update and parameter update.
The Ecosystem of the MATRIX thus can be essentially envisioned as a network which is flexible and fast. It helps to maintain user anonymity while at the same time ensuring enhanced security levels with special stress upon privacy and usage transparency.
The MATRIX ecosystem allows the user to buy MATRIX tokens, sell MATRIX tokens, payment for AI services by virtue of the MATRIX token and reaping the benefits of application services on the network by virtue of MATRIX tokens.
The Research and Development Team
The MATRIX is headed by chief AI scientist Prof. Yangdong Deng. The aspects of blockchain R&D happens to be under the supervision of Qinghua Li and Ethan Tian. The hardware team is headed by Dr. Tim Shi who is the chief hardware scientist at MATRIX.
The company business is headed by the CEO, Owen Tao and Senior Vice –President of MATRIX, John Zhu. The advisory team consists of Dr. Donglin Wang, the Chief Advisor of the MATRIX AI network and Tony Surtees.
This is a press release. Trustnodes has not undertaken any verification of any of the above statements and any statement contained therein is not necessarily endorsed by Trustnodes. Readers are strongly advised to do your own research.