I already briefly mentioned MATRIX (MAN) in my last post. Back then the ICO wasn't over yet and I wanted to give my (very few) readers the chance to get in. Anyways, it is still very early as Coinmarketcap hasn't even listed them yet and they are only traded on decentralised exchanges.
In the following I will first just list a short summary of their approach to blockchain and give my opinion on it afterwards
What is MATRIX
MATRIX (MAN) is an open-source blockchain which supports smart contracts and utilises machine learning services to outpower the concurrency.
They divide their innovational approaches into four branches.
Intelligent Contract
Matrix will come with an originally integrated UI which allows to transform language into code. Meaning, you can just type the conditions of your smart contract and the AI will write the code for you, in realtime, no programming skills needed.
Aegis
In addition the AI will also help to protect your assets as I will constantly look out for shiffing holes and stuff them. You can basically imagine this as an integrated anti spying software which keeps your holdings and contracts safe. This security feature will consist of four different components:
- a rule-based semantic and syntactic analysis engine for smart contracts
- a formal verification toolkit to prove the security properties of smart contracts
- an AI-based detection engine for transaction model identification and security checking
- a deep learning based platform for dynamic security verification and enhancement.
Wormhole Network
MATRIX claims that their blockchain network will scale up to 1 million transactions per second, making it even faster than Visa. They aim to enable high-speed transactions by dynamically generating a hierarchy in the blockchain network. A distributed clustering algorithm is devised to cluster nodes into disparate groups and a delegate is voted in each group with an evaluation function considering both fairness and randomness.
Darwinian Revolution
A proactive optimization engine is embedded in the bottom protocol layer of MATRIX so that blockchain parameters are dynamically updated according to external conditions. In addition to maintaining the efficiency and applicability, the dynamic optimization scheme prevents the risk of hard fork in each software release and parameter update.
Every node in the MATRIX blockchain is associated with one control chain and at least one data chain. Both chains are coordinated by a distributed consensus scheme. The control chain is equipped with a rich set of AI models and behavioral specifications for data chains. The data chain performs data operations and collaborates with other chains and routers under the administration of the control chain. The introduction of the control chain enables MATRIX to exchange data and executes contracts with other blockchains.
MATRIX will work on a hybrid PoW & PoS consensus based on stochastic network contraction to not only prevent latency problems and provide more guarantee and safety than the private channels of a lightning network, but it will also allow the mining power to serve it's AI based big data applications.
In fact the first application will be a diagnosis system for use in hospitals which uses AI to assist in cancer diagnoses. It is already under development together with the Beijing Cancer Hospital and other large hospitals in the area. This might illustrate future the government blessing and support.
The Team behind MATRIX
- Owen Tao (CEO): Double majored in Economics/Physics. Supervised the development of China’s 3D virtual community. He also led the development of China’s first cross border e-commerce platform, which had 20 million users worldwide. Has successfully been the CEO of multiple startup companies that have touted millions of users.
- Steve Deng (Chief AI Scientist): An associate professor at Tsinghua University, and earned his P.H.D from Carnegie Mellon University. Steve was the principal architect for artificial intelligence behind China’s high speed railway early warning system. His work in deep learning based image detection was ranked number 1 in top academic challenges, including the PASCAL 2 AI competition and the Nvidia partnership professor award. So far he has published over 50 papers.
- Tim Chi (Chief Chip Scientist: Former Principal System Architect of AMD and also responsible for the technology partnership of AMD with companies and universities in greater china. Worked also for Synopsys and ARM and was with Samsung Semiconductor as a senior chip design engineer.
- John Zhu (Senior VP): Has over 20 years of experience in management, marketing, and government relations. Supervised the construction of a multi-satellite ground station for the Moon Discovery Project.
- Bill Li (Chief Network Architect)i: Lead the design of China’s first WiFi transceiver. Also designed the communications command and control system for China’s first aircraft carrier. His book “Communication IC Design” is a best seller and used by many prestigious universities.
- Dr. Donglin Wang(Advisor): Director of the National ASIC Design Center, the Institute of Automation, and also Chinese Academy of Sciences. Voted as the Expert with Outstanding Contributions to China’s Defense Science and Technology.
- Tony Surtees (Advisor): CEO of Hyperlocalizer Pty Ltd, a cloud based content management platform. He’s held strategic roles at companies in Australia, Asia, and the US. Tony is responsible for the launch of Yahoo shopping.
On a side note: in 2017 the Team was able to beat both Microsoft and Intel in an AI competition.
The most mentionable partners of Matrix so far are Hyperledger, Smartmesh and the Chine Association for Artificial Intellegence.
Matrix is also able to count the CTO of Alibaba Group’s F&H Fund Management is an one of their angel investor..
Why I like MATRIX
To be honest with you, I am no developer and I don't understand the parts of the white paper that explain the code solutions for the problems that MATRIX tries to solve.. but what I do understand is that MATRIX has the most professional team I have seen in blockchain so far. Don't get me wrong here, I am impressed by kid geniuses like Vitalik, Amrit (Zilliqa), etc. and their projects have/will prove anyone that their young age is no disadvantage and that they use their intellect to make up for a potential lack of business experience. Yet Matrix comes with a team has both the geniuses and the experience in the real business world.
(I do not say MATRIX will overcome Ethereum nor Zilliqa, there is enough space for all those chains, hear me out).
I also like MATRIX' approach to a broader and less technical audience. The integration of AI to allow anyone to write smart contracts is amazing and will most-likely enable a big step for adoption.
(Just like me) They also understand that there will be different use cases for each blockchain and therefore plan to integrate cross-chain interoperability early on.
Overall their claims and aims are far beyond the capabilities of the current generations of blockchain, with a team like theirs it might be possible to make this come true though.
For further information, please go to their website:
This is no financial advice as I am no financial advisor.
Please DYOR.
This is not part of any bounty program and I am not getting paid for this article (unless you up vote me :P)