FAQ of MATRIX AI Network
(as of 12 April, 2022)
This FAQ contains the basic information about MATRIX AI Network, and common questions from communities at different channel. It is a working document and will be updated from time to time.
1. Why does MATRIX exist?
The development of blockchain is held back by three obstacles:
a) Slowness: Take Bitcoin for example. An average transaction takes over an hour to verify. This is a hurdle to the promotion of blockchain;
b) Security issues: Whether it’s the DAO attack on Ethereum or the many security issues plaguing DeFi projects, tens of thousands of dollars could be at stake. If security should be an issue for crypto assets, then there is no point investing in them.
c) Impact on environment: Take Bitcoin for example. PoW of Bitcoin is nothing but meaningless hash computing that creates no real value for society. According to statistics, 70% of the world’s computing power is consumed to mine cryptos, which is a million times Google’s computing power. Bitcoin mining also consumed more power each year than 260 countries of the world, creating a huge waste.
2. What is the vision and mission of Matrix?
Vision: To build a decentralized auto-functioning AI economy
Stage One: Highly efficient blockchain platform
Stage Two: Decentralized cloud computing platform
Stage Three: Digital asset authentication platform/Digital asset trading platform
3. What are main features of MATRIX?
Thanks to fast-growing AI technologies, MATRIX offers unique features as follows.
SAFER: Making blockchains more robust under malicious attacks.
FASTER: Enabling faster transactions and higher processing throughput.
MORE FLEXIBLE: Seamless integration of public and private chains with the capability of adaptive optimization.
4. How is MATRIX different?
• Matrix Mainnet has a top speed of TPS 12499 beating BTC and ETH by a wide margin.
• Profit from computing: Matrix’s core PoW algorithms include AI algorithms, which means the PoW mining process creates value for society. Secondly, Matrix adopts an election-based PoW mechanism so that the unelected miners of each mining cycle may lease out their spare computing power for profit.
• Distributed storage: Ahead of its competitors, Matrix has integrated IPFS storage protocol into its network. Besides decentralized information exchange and bookkeeping, decentralized storage is also crucial for developing DApps. Matrix is committed to protecting user privacy, giving developing DApps on Matrix a natural advantage.
• Custom functions: Transfer to multiple accounts, pay other people’s bills, and many more custom functions to come.
5. What exactly does MATRIX do?
Matrix is an AI-empowered high-performance blockchain. In Stage One, we use AI to solve problems plaguing traditional blockchain technologies. When the performance and usability of blockchain are brought to the next level, we can build a complete and expandable ecosystem of high-performance AI blockchain.
Matrix is building a multifunctional AI service platform featuring computing power leasing, authentication and transaction of data, algorithm models and digital assets, AI services, et
6. What is Matrix's consensus mechanism?
MATRIX adopts a unique hybrid PoS + PoW consensus mechanism. The PoW is performed in a significantly smaller network of delegates, which are selected with a random distributed voting algorithm. The probability of a node to be selected is proportional to its PoS. The “winner” delegate shares the PoW reward with other nodes in its cluster. This mechanism eliminates the latency issues associated with scaling commonly faced by other blockchains.
7. What problems does the matrix solve?
With a very secure, easy to use, fast blockchain and decentralized artificial intelligence supported platforms built on this blockchain;
• Waste of energy
• Waste of computing power
• Data Security concerns
• Recover from large volume, single size and low quality data
• High computing power price
• Problems created by a central structure
8. What makes The Matrix different? Why is it better?
• It has a new generation blockchain powered by high performance AI, which is secure, fast and flexible.
• It has created a decentralized AI ecosystem based on an efficient blockchain and platforms that are useful for everyone.
• The Matrix is building a truly decentralized network.
• Since DPoS+PoW has a consensus mechanism, it is more advantageous than many consensus mechanisms with the AI algorithms it uses in DPoS.
• Hybrid PoW/PoS design is both secure and environmentally friendly, as it significantly increases the cost of attacking the network.
• It is better at collecting the spare computing power of ordinary users and companies.
• Better for time-insensitive tasks that require a high level of privacy.
• Its decentralized nature makes computing power more affordable.
• Matrix is not limited to computing power, but also aims to build a trading platform with a data platform, an algorithm and service platform.• Matrix is not limited to computing power, but also aims to build a trading platform with a data platform, an algorithm and service platform.
• Focuses on building new technologies and platforms, developing features.
• Provides API and SDK to anyone with customer resources or a business enterprise experience to build their own AI cloud computing/AI service platform using their own AI cloud computing/AI service platform.
• High-quality source materials (computing power and data) for algorithm scientists; provides.
• With AutoML, AI algorithm provides fewer barriers to creation, thus providing better and more diverse services.
• Creates an open platform with endless possibilities.
9. Can the Matrix be hacked?
The MATRIX AI Network team takes cybersecurity very seriously and uses all means necessary to prevent attacks. With the help of Artificial Intelligence, the cybersecurity feature of the MATRIX AI Network identifies potential loopholes and malware and intents, while at the same time providing security even under high-intensity attack using a generative competitive network. Additionally, MATRIX AI uses simulated attacks over the encounter network for enhanced network security. And, an AI-powered GAN security system and a fair consensus mechanism also help counter these attacks.
While it is always important to be mindful of the realities of cybercriminal activity, at the same time, as blockchain features evolve, existing security measures will also be put in place to protect you or your business.
MATRIX AI Network is at the forefront of this with the added benefit of complex AI mechanisms.
10. Is the old team still alive? How many people work in the team?
It is common people come and go. But the key person of the project stays, including Chief AI Scientist Steve Deng, CEO Owen TAO, Product Director Ethan Tian, Dev Director Huawei Yuan, Marketing Director Ken MA, CMTO Eric CHOY, and also Network Maintenance Manager, KaiXuan.
Currently 6 AI teams, 3 Blockchain R&D and maintenance, 3 Smart contracts, 2 website developers, 4 community managers, 1 product, 1 operation and maintenance, 2 to B business development team and some other financial and other about 25 people, including some and administrative managers. This issue is being updated.Currently, Matrix is recruiting globally. Please refer to
11. What is the ticker?
What is the coin used for?
In the Matrix AI Network, MAN coins are used for rewarding, payment and digital asset authentication.
Block-generating miners, transaction validators, and participants in the MATRIX ecosystem have the privilege to earn MAN tokens as a reward
From leasing spare computing power to purchasing AI services, on MATRIX AI Network everything is paid in MAN.
DIGITAL ASSET AUTHENTICATION
The process of converting computing power, algorithmic models, or AI artworks into digital assets involves burning a required number of MAN in the forging of NFTs.
12. Where can I buy MAN coins?
It can be purchased from exchanges that support the Matrix Mainnet;
Contracts for Bep20MAN: 0x772aD4f727aD96eAcab5c5c255576813B680C1D1
Exchanges Supporting the Matrix Network:
Exchanges Supporting BSC Network for Bep20MAN;
Exchanges Supporting Ethereum Network for Erc20MAN;
13. When we look at BSCscan, we see that all coins are kept in a single wallet. Is this true ?
First of all, Matrix has its own Mainnet. The list of wallet holders, their distribution, and the owner of the wallets can be viewed on the blockchain.
Matrix Blockchain: www.tom.matrix.io
Matrix Holders: www.tom.matrix.io/accounts
14. What is the token economy of Matrix? What is the total supply of MAN?
Its accuracy can be verified from Coinmarketcap.
There can be 1,000,000,000 MAN ever. 15% of the maximum supply was sold in ICO, and 10% is with the foundation for business and community development and will not go directly to market. 25% of tokens are created currently. The rest, 75%, is broken down as 40% is for mining and 35% is for community, hardware development, team. It will take decades for the max amount of tokens to reach circulation. There is a lock period of 2 years on the team tokens.
Reserved for Mining Rewards: 400.000.000
Additional Token Sale (Locked): 200,000,000
Initial Coin Offering ICO(Sold) 150,000,000
15. Is MAN still an erc20 token? Where can I store MAN?
Man is a coin with its own blockchain. There are 3 methods you can hide;
In a web wallet that supports its own blockchain (https://wallet.matrix.io)
How to create a Matrix Wallet ?
In this wallet, you can both store it safely and stake if you want.
How can I stake?
Users can store their assets in wallets that support the BSC network from the Wormhole tool, which provides cross-chain asset transfer on the Matrix Mainnet, where they can transfer their assets between Matrix Mainnet and other blockchain platforms. (For example; Metamask, Trustwallet )
How can I send my Man tokens to Metamask?
It supports Ledger Matrix Mainnet. Ledger can also be stored. The team provides a guide where you can move them manually.
How can I move my man coins to Ledger?
16. My man tokens are still an erc20, how do I revert them to mainnet coins?
There are two methods for this.
• The first method; It is easy and fast. Selling your Erc20MAN tokens on the exchange (Huobi) and buying them from exchanges with Mainnet support. (Exchanges like Kucoin and Gate)
• The second method is; Participating in the manual swap process that the Matrix team completes on the 5th of each month. Manual-swap guide as below :
17. Will there be a halving for MAN as in Bitcoin?
There are 400 million MAN tokens in total in the pool of Matrix AI Network. By the time the 3 millionth block is generated (estimated to happen in mid-May), the output will be reduced, and mining profits are expected to drop to 85% percent of the original. Like with Bitcoin and other cryptocurrencies featuring PoW mining, MAN output is designed to gradually decrease in order to bring up production cost and the value of MAN. This will also help boost MAN’s circulation in the market. Meanwhile, compared with Bitcoin, Matrix has adopted a smoother reduction curve and a rising price model for MAN.
18. From which accounts can I follow Matrix?
19. What are your platforms and projects based on Artificial Intelligence?
MANTA – MAN Training Assistant
MANTA is an auto-machine learning platform built on MATRIX Mainnet. It enables anyone with no technical knowledge in AI to perform machine learning on a MATRIX node and get the AI models they need.
MANAS - MAN AI Service
MANAS is a distributed AI Service Platform built on MATRIX Mainnet. Its functions include AI model training, AI algorithmic model authentication, algorithmic model transaction, paid access to algorithmic models through API, etc. We aim to build a distributed AI network where everyone can build, share, and profit from AI services.
MANART—MATRIX NFT Marketplace (aka AIRTIST)
MANART is a platform dedicated to AI-related NFT asset generation and authentication. It has two key elements: 1. the “Big Threes” of AI (Computing Power, Data, and Algorithmic Models), and 2. AI art.
MANITO – MAN Industry Tech Open-Platform
MANITO is an industrial network service platform built on MATRIX leveraging the high-performance blockchain. By incorporating AI, Big Data, IoT and blockchain technologies, it will be a powerful tool for implementing Industry 4.0.
20. How can I contact you for more questions?
You can email us at email@example.com or join the Matrix Official Global Telegram group.
21. What specs you using for Matrix node?
It is recommended to have a machine with at least:
• 8-core CPU (or more)
• 16 GB of RAM (or more)
• Approximately 500 GB of disk space per Masternode (anticipating large storage space as it keeps increasing with time)
• At least 1MB/s internet bandwidth per MasterNode
a) To launch a Mining Masternode, you must stake at least 10,000 MAN.
b) To launch a Validation Masternode (used for pools), you must stake at least 100,000 MAN.
c) Each Masternode must have 2 Wallets A and B associated with it (which you will therefore need to create).
d) Wallet B will be configured on the machine and will serve as a secure bridge to wallet A where your staking will be located and where you will also receive your MAN rewards.
e) There are two types of rewards generated:
- Staking rewards
- Mining rewards
Both types of rewards will be sent to Wallet A of each node. However the staking rewards will remain locked as long as the staking is also locked, while mining rewards will be available and transferable at all times.
f) Synchronizations with the blockchain are particularly long. We will use a file called snapshot so that we don’t have to synchronize everything from scratch.
22. What makes Matrix different from other artificial intelligence projects and companies?
a) A high-performance, high-performance AI-enhanced blockchain.
b) It is a blockchain that is quite secure, fast, can reach 50k transaction speeds per second with AI technology, and offers ease of use, preventing large energy waste. In general, it can reach 14K TPS.
c) With the increase of computing power, it prevents large energy waste and excessive cost with the Hybrid POW+POS consensus mechanism with AI.
d) Building a decentralized network.
e) It facilitates the exchange of decentralized data, computing power and algorithms in combination with AI technology.
f) MANTA provides scientists with cost-effective computing power; and helps scientists validate their work with MANIA
g) It helps AI scientists improve the efficiency of their workflows, creating more and better algorithms and services for the same cost.
h) It provides high-quality source materials, namely computing power and data for algorithm scientists.
i) With AutoML, it offers fewer barriers, better and more diverse services for AI algorithm creation.
j) It has open platforms with endless possibilities.
k) Decentralized AI maintains the ownership of data by aiming to transform the data it owns into users' personal assets with its platforms, and has a computing power distribution platform to provide affordable computing power as well as provide high-quality large data to businesses.
l) It provides an API and SDK to enterprises to build their own decentralized AI cloud computing/AI service platform using AI service platform.
m) Unlike many projects, it has a Decentralized distributed storage system.
n) In addition to these, there are many projects as the reason for preference.
o) So with a recently growing MATRIX network, it's quite possible to see the ecosystem."
23. What is the Matrix Bio-Wallet?
Bio-wallets are devices that use biometric information as identifiers. The Matrix BioWallet is a hardware wallet that revolves around finger vein recognition. It supports the unlocking of your wallet as well as the signing of transactions using one’s finger vein, thus saving people from the stress of having to remember a password/PIN, and more. In theory, you would never lose access to the Bio-Wallet by forgetting your password.
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