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 randomly 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.
Due to the random nature of MCMC computations, the mining computing of MATRIX is better supported by dedicated stochastic hardware. The first generation of mining machine, a Bayesian reasoning machine, was already designed and prototyped. The prototyping design will be integrated as a single IC chip in the timeframe of two years.
Major challenges include:
(1) Programming Barrier
(2) Security Vulnerabilities
(3) Lack of Flexibility
(4) Wasteful Mining
(5) Subpar Speed
MATRIX is a public chain but allows integration with one or more private chains.
There will be a maximum of one billion MAN tokens within the Matrix AI Network platform.
Holders can directly trade MAN tokens on exchanges that support MAN tokens or directly with other MAN token holders. Several leading exchanges including Bitfinex and Huobi Global provide convenient access to MAN tokens.
The total pool capacity of the MATRIX AI Network is 250 million MAN tokens during the post-ICO/pre-mainnet period. After the launch of the MATRIX AI Network mainnet, more tokens can be mined.
The digital currencies raised by MATRIX will be used as specified in the table below.
|R&D of blockchain technologies||15%|
|R&D of AI technologies||15%|
|R&D of the 1st generation of ASIC and mining machine (Bayesian computer)||20%|
|Initial deployment of computing power on the blockchain||20%|
|Marketing and development of ecosystems||15%|
|R&D of applications||10%|
|Investment on related R&D activities and projects||5%|
Yes, MATRIX adopts a hybrid PoS + PoW consensus mechanism called HPoW. HPoW requires mining. The MATRIX AI Network HPoW consensus mechanism doesn’t use common Hash algorithms in mining as Hash algorithms have no real-world use or value. Instead, MATRIX uses an innovative Bayesian mining mechanism to run Markov-Chain Monte Carlo (MCMC) algorithms. Markov Chain Monte Carlo (MCMC) algorithms have widespread real-world applications in science and industry.
Since the MATRIX mainnet is not yet launched, MATRIX’s MAN tokens are distributed as ERC20 tokens on the Ethereum network. All MAN token will be swapped, 1-for-1, at a later date.
MATRIX project is governed and supervised by the MATRIX Foundation. Registered in Hong Kong, the Foundation has separate departments to manage various aspects of the development and operations of the MATRIX AI Network.
MATRIX leverages the latest artificial intelligence (AI) technology to deliver on the promise of blockchain. Key innovations include:
|Auto-Coding Smart Contracts||MATRIX Smart Contracts use Natural Language Programming and adaptive deep learning-based templates to auto-code. English and Chinese supported. Additional languages supported later.|
|AI-powered Cybersecurity||AI-powered Secure Virtual Machine identifies potential loopholes and malicious intentions while ensuring robustness under high-intensity attack using a generative adversarial network. Dark Guardian uncovers malware and other illegal activities.|
|Adaptive Blockchain Parameters||Seamless integration of public and private chains with the capability for multi-chain collaboration. Support for adaptive self-optimization and the ability to tweak certain blockchain parameters without creating a hard fork. Ability to evolve alongside users. Suitable to support enterprise and government ecosystems.|
|Value-Added Green Mining||Innovative mining mechanism uses vast computing resources to run Markov-Chain Monte Carlo (MCMC) algorithms. MCMC algorithms have valuable real-world applications. Currently being used in collaboration with Beijing Cancer Research Hospital to improve speed and accuracy of cancer diagnosis.|
|Dynamic Delegation Network||Proprietary network hierarchy created with a distributed random clustering process without centralized control enables hybrid PoS + PoW consensus mechanism – dubbed HPoW or Hyper PoW – and reduces transaction latency.|
Among the 1,000,000,000 MAN Tokens, a total of 150,000,000 were sold in the Initial Token Sale. The remaining 850,000,000 tokens are reserved for the following purposes.
(1) 100,000,000 are retained by the Foundation for founders, directors, advisors, early backers, management and community initiatives. These will be distributed in different phases after the initial ICO.
According to the development roadmap, the MATRIX mainnet will launch by the end of 2018. After the launch of the mainnet, the original 250,000,000 ERC20 MAN tokens will be swapped on a one-to-one basis for new MAN tokens.
(2) 200,000,000 tokens will be issued for one or more subsequent sale(s) to the public on later dates as Additional Token Sales (“ATS”). Proceeds from ATS will be dedicated to system scale up and production development.
(3) 400,000,000 are reserved as rewards for miners who contributed to the Proof of Work activities once the MATRIX AI Network mainnet is launched.
(4) 150,000,000 are allocated to the Foundation as management and sales incentives, grants and scholarships to support R&D, administration, marketing and community development activities in service of the MATRIX AI Network blockchain.
MATRIX AI Network is an intelligent, open-source, new generation blockchain that aims to solve major challenges currently stifling the development and adoption of blockchain technology. MATRIX leverages the latest artificial intelligence (AI) technology to deliver on the promise of blockchain.