[Coincheck] Matrix AI Network
An Overview About Matrix AI Network
AI technology is starting to make a giant change and is the recent trend amongst most ICOs. And one of the projects that might lead the future in the AI department is Matrix AI Network in our opinion. With its use of artificial intelligence and blockchain technology, the project aims to make developing easier for all users by 2020.
So in this quick Coincheck Review, we’ll discuss the problems MATRIX intends to solve and more in-depth knowledge of the team behind the project. As a crypto investor, it’s up to you to decide whether this project is worth your time and money.
“Designed to be the next generation blockchain, MATRIX uses the latest AI technology to resolve today’s challenges.” So Matrix chain is planning to solve the current problems with today’s blockchain frameworks by making it easier for users to deploy smart contracts.
Let’s think about Ethereum’s blockchain. Solidity is the main coding language that’s used to make smart contracts within its platform. However, most developers are forced to learn Solidity instead of using their natural coding language to create the contracts.
In fact, this also is a problem for international coders who have a different native language. Thanks to Matrix AI Network, the company has decided to create solutions to help the needs of every developer and using AI to help them write cleaner code.
Here are the solutions that Matrix AI Network presents. With these solutions, their project aims to make smart contract deployment easier for developers and first-time coders to get involved with.
Natural Language Smart Contracts
MATRIX is creating a software that allows developers to make their own smart contracts in their preferred coding language. That’s right – there’s no difficult programming needed to deploy the smart contracts. Just simple contract deployment in English, Spanish, Chinese and a multitude of other languages.
The development team makes this possible by making tools that can convert their natural language into a functional programming language. Users can state their project intention in their language and then translate it into a smart contract.
Matrix AI Network plans to use AI for two reasons:
First, it wants to create a secure blockchain network and help users make smart contracts with the AI making automated security audits. Through this system, its AI will automatically find the errors in the smart contracts. This feature complements the natural smart contract development because there are a lot of errors and issues that are to be expected within the feature.
And, the AI is used to optimize the platform, which makes it self-optimizing. Its AI algorithm will look for methods to upgrade the platform, making it very flexible. This replaces a lot of inefficient models that other blockchains use to help improve their platforms. Due to its AI optimization, Matrix AI’s platform will continue to evolve and never become forked.
Matrix’s team states that their blockchain can produce 50,000 transactions per second. Thus, making it one of the fastest blockchain networks at the moment. Their development team’s goal is to create over 1 million transactions per second on its platform. We can only find Matrix’s true transaction speed at once its main net or public test net is launched.
Interoperable Private and Public Chains
MATRIX’s protocol allows for both private and public chains to operate on its platform. And, both of the chains are completely interoperable. Companies can obtain permission to a private network and can link public networks on the blockchain.
One thing that sets Matrix AI Technology apart is the quality of their partnerships. Matrix AI has an exclusive relationship with the trillion dollars, One Belt One Road Project. This is a high profile Chinese project that aims to increase the connectivity between Russia, Asia, Northern Africa, and Europe.
The project entails a road and a marine way that stretches from China to Europe. This large project was developed due to the fact that Chinese government is expanding the government for international trade and is trying to become a major player in the globalization industry.
MATRIX’s Senior Vice President became appointed as the head facilitator of the AI initiatives and blockchain for One Belt One Road’s Projects. And MATRIX’s team has multiple cooperation projects with the project that will stay confidential until the main net is fully launched.
Once this occurs, Matrix will deploy multiple applications to support this large project.
This project’s future plans and long-term goals sound too good to be true. Matrix AI Network is run by a strong team that has received multiple awards in this area. MATRIX is backed by its CEO Owen Tao. He has a strong background in leading high-end startups and has years of experience in managing product development.
Bill Li, MATRIX’s lead Network Architect, is a leading expert in IC design and communication. He is a strong contributor to the 3G, 4G, and 5G systems in China and was the leading architect in China’s Wi-Fi transceiver.
Professor Steve Deng is the Head AI Scientist behind the project and has a longtime record in data analytics, computer architecture, and machine learning. He has over 50 published peer-reviewed papers. And he’s created a book on AI that’s accepted within the higher educational spheres.
Besides this all-star team, the team has a supportive group of advisors and 25 developers that have experience with large multinational companies such as Facebook, Huawei, Microsoft, and Alibaba. In their recent conference, the team stated that they will have new PhD students ready to finish the project, this brings academic backing to Steve Deng and his group of ex-students he hired.
MATRIX’s Roadmap and Status
Unlike other blockchain projects that are late in delivering their projects, Matrix AI Network is actually ahead of their schedule. As of now, they created the AI’s neural network’s architecture, the consensus algorithm, the MATRIX’s main net algorithm, and the AI mining machine prototype. Also, MATRIX’s team possesses an AI platform, which is the main reason why their products are being deployed so quickly.
The team member also indicated that the team has to finish deploying these features to blockchain’s network development. This states that MATRIX’s team has concentrated on the project’s functionalities and are now working on making the blockchain infrastructure. Seeing as though both of these technologies are already made, it can be stated that the team already completed the hardest part.
Matrix AI Network plans on deploying the main net in Q3 2018. By March 2019, the team will fully release its platform to the public. In the meantime, beta versions and demos of the services are running on Ethereum’s blockchain.
For now, Matrix’s token, MAN, is an ERC-20 token. But once the development team launches its main net, MATRIX will have a native cryptocurrency. The token will be distributed to miners and node owners for using their AI services and running applications.
Based on CoinMarketCap, Matrix AI Network is now ranked at 110. Even though its still in development, it’s current ranking already shows that it has more space to grow within the cryptomarket.
Speaking of its market, they have a $133.93 million dollar market cap. We suspect they gained this trust due to the is high-quality AI protocol and their ability to complete their project’s features. As it continues to grow, we expect its market cap to become higher as a result.
For people that are interested in investing in Matrix AI Network, it’s now valued at $.892852. Even though it has lost over 16.26% so far in the bear markets, this project might correct itself and potentially gain more once it launches their complete main net and the bulls return.
Social Networks To Follow If You Like Matrix AI Network
- 5708 Reddit Readers – Visit Matrix on Reddit
- 3421 Facebook Likes – Visit Matrix on Facebook
- 21 Github Repositories – Visit Matrix on Github
- 19603 Telegram Members – Visit Matrix on Telegram
- 142000 Twitter Followers – Visit Matrix on Twitter
Basically, Matrix AI Network hopes to solve the problems that are in today’s blockchain networks. If successful, the project has the ability to help developers make better dApps and use AI to make faster transactions than Ethereum’s blockchain. With the experience of the team and the quality of its product, we think the Matrix AI Network will become a great asset once it’s fully launched – but as always DYOR and nothing is secure until the MVP has launched and proven itself.