Matrix AI is another blockbuster blockchain project coming out of China with huge partnerships including the Chinese Government OBOR network and more… but first what is Matrix AI?
Matrix AI is designed to be an open-source platform that supports smart contracts and machine learning services – (Matrix AI Team)
Matrix AI is an open-source public blockchain AI platform aiming to bring a suite of benefits to the Blockchain Industry including – the ability for everyone to programme Smart Contracts (without specific expertise e.g Solidarity on Ethereum), providing more robust security measures, a faster output aiming at 1M TPS and lastly providing cross-chain abilities.
To add to this, Matrix has another unique point of difference stated by the team – that Matrix can build “AI-enabled autonomous and self optimising blockchain networks” which can process and transact at a very high output.
Lets take a deeper look…
TITLE/TICKER : Matrix AI/$MAN
COMPANY ORIGIN : Hong Kong
PLATFORM : ERC-20 then their own blockchain
PURPOSE : Extremely High-output Blockchain / AI platform
POINT OF DIFFERENCE : 1M TPS projected, Chinese Government Contract
MAJOR PARTNERS : Chinese Government (PBoC) – OBOR Network
WEBSITE : Matrix AI Website
TECHNICAL WHITE PAPER : Matrix AI Technical Whitepaper
COMMERCIAL WHITEPAPER : Matrix AI Commercial/Business Whitepaper
WORKING PRODUCT? Initial public chain integration with Ethereum is due Mid- 2018.
TOKEN ALLOCATION :
What Problems is Matrix AI looking to solve?
Matrix AI is looking to tackle some of the major issue’s plaguing blockchains in 2018 including speed, efficiency, barriers to entry (programming) and more.
Lowering the barrier to executing Smart Contracts
First of all Matrix AI is lowering the barrier to executing smart contracts on their platform, greatly widening their potential developer audience. Secondly, AI’s techniques are the true power play of Matrix which propels them ahead of many other projects including the AI technique where smart contracts are upgraded and new contracts are generated autonomously from previous concepts, historical data or prototypes.
Matrix AI – a safer blockchain?
Matrix AI uses AI to protect, build and maintain their strict security systems to protect all digital assets. Matrix understands the problems the industry has had historically e.g DAO attack / Parity Flaw and others. Matrix AI is building security features such as a ‘verification toolkit’ which proves and validates security properties of any smart contract in conjunction with a “detection engine” which verifies security measures.
Matrix AI – a faster blockchain?
Currently, user-experience is greatly affected by slow blockchains with low outputs (transactions per second) and this is highlighted during major events on networks that cannot handle or process sufficiently e.g Ethereum / Crypto Kitties etc. Matrix AI understands that this is one of the greatest flaws and one that has be to solved in order for blockchains for be viable for many use-cases which require a very high output / transactions per second. Matrix AI is positioning itself for large scale commercial demand and a 1 Million TPS rate has been thrown out as a projection (currently 50k TPS on their testnet).
Matrix AI – a more flexible blockchain?
Flexibility when talking about blockchains relates to Forks. It is almost inevitable that a blockchain will fork at some point in order to improve its features or in the case of a governance/direction/leadership issue which we have seen with Bitcoin/Bitcoin Cash & Ethereum/Ethereum Classic etc. Matrix AI is tackling this issue with its blockchain design. Matrix AI is able to “adjust parameters as needed” and as the market demands. Matrix AI also offers cross-chain flexibility in terms of how enterprises wish to display their data e.g a company can choose to run a private chain while sending data to their public-facing chain.
Matrix AI use-cases
According to Matrix AI – there are three major target audiences and use-cases;
- Computing Facilities (Heart of Matrix AI – deploy computing power and get rewarded
- Application Providers (providing services to customers including – AI Big Data, Complex Smart Contracts, Regular Smart Contract Enforcing
- Customers (four types – renting computing power to renting power for AI services/apps)
Matrix AI and the OBOR Network/Contract
There have been rumours/evidence that Matrix AI has confirmed its partnership with the Chinese Government with the OBOR (Silk Road Initiative).
This photo was also taken with John Zhu (Matrix Head of Business Expansion/Partnerships) with Chinese Government officials discussing a key transport hub of China – Luzhou with relation to the ‘One Belt One Road’ (OBOR) programme.
Matrix AI Roadmap
Matrix AI Team
Alongside its capital investors and strategic partners, Matrix AI has established something quite remarkable and something that westerners have not picked up on – a Chinese Government Partnership, specifically with the OBOR network as discussed. The only other project to achieve a partnership on this level in China (announced publicly to date) is Ve Chain with their Smart City partnership.
Matrix AI Competitors
In terms of competitors in the AI space, Deepbrain Chain ($DBC) one of NEO’s projects seems to be developing in China. The likes of ICON is also incorporating AI into their blockchain and many more will follow. However Matrix AI is serving a particular market and purpose not to mention the partners already established gives Matrix AI early mover advantage. In addition to this the space is very young and the market size is only growing, there will be space for multiple players serving different niches.
Where can you purchase Matrix AI tokens?
How to protect & store your Matrix AI tokens?
Outlook for Matrix AI
Matrix AI is one of the most exciting and promising projects to date. With huge partners, a very strong team and a already proving test-net – Matrix AI is shaping to be the real deal.
China is also a interesting market to navigate, where the central government is vital to your success as a private company, Matrix AI is on-board here.
The OBOR network looks to be the real deal, this would be monumental and would set Matrix AI into the future.
Reach out if you want to learn more about Matrix AI or any other project/topic.
Disclaimer : The Author is currently holding Matrix AI ($MAN) at the time of writing this article. All content is research, opinions and personal view points from our Analysts. This is not financial advice and should not be treated as such. If you have any queries please contact [email protected]