WHAT IS MATRIX?
MATRIX is an open-source blockchain platform that supports smart contracts and machine learning services. With its infrastructure re-built with artificial intelligence (AI) techniques, MATRIX revolutionizes the user experience of executing smart contracts by making the whole process faster, easier, and safer. MATRIX offers breakthrough technologies in building highly flexible blockchain networks, which support adaptive self-optimization and multi-chain collaboration. In addition to refactoring the blockchain with AI, MATRIX also allows its mining power to serve its AI based big data applications.
What are main features of MATRIX?
Thanks to the fast-growing AI technologies, MATRIX offers unique features as follows.
1. EASIER: Allowing everybody to design smart contracts without explicit programming skills.
2. SAFER: Making blockchains more robust under malicious attacks.
3. FASTER: Enabling faster transactions and higher processing throughput.
4. MORE FLEXIBLE: Seamless integration of public and private chains with the capability of adaptive optimization.
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 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.
Does MATRIX have a mining machine?
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.
MATRIX a public or private chain?
MATRIX is a public chain but allows integration with one or more private chains.
Is the MATRIX platform open source?
What problems of current blockchain technology can be addressed by MATRIX?
(1) slow transaction speed; (2) programming barrier of smart contracts; (3) lack of security in smart contracts; and (4) inflexibilities in managing and updating blockchains.
What is the total number of MATRIX tokens?
MATRIX has its token designated as MATRIX AI Network, or MAN in short. There will be a maximum of one billion MANs in total within the Matrix Platform.
Does MATRIX (MAN) have a lock period?
The MAN in this Token Sale does not have any lock period.
How long can ICO participants receive MANs?
Within two weeks after the end of ICO.
How are MANs to be traded?
Holders can directly trade MANs on the exchanges that support the MAN tokens or between other MAN token holders.
What is the MATRIX pool capacity?
The total pool of MATRIX may reach a maximum of 250 million MAN tokens after the ICO and before the launch of a new Matrix Blockchain around March 2019. After the launch of this blockchain, more tokens will be issued.
How will the raised digital currency be used by MATRIX?
The digital currencies raised by MATRIX will be used as specified in the table below.
Does MATRIX need mining?
Yes, MATRIX adopts a hybrid PoS + PoW consensus mechanism and requires mining for the PoW part. The mining computing of MATRIX is not the commonly used Hash functions, which do not have added values outside the scope of cryptocurrency. Instead, MATRIX adopts the Markov Chain Monte Carlo (MCMC), a Bayesian computing pattern, as the mining function. Since MCMC has wide applications in scientific and industry domains, the PoW computing can be treated as crowdsourcing for such applications. The mining mechanism provides a better bridge between the fortunes in virtual and physical worlds. Meanwhile, we are also collaborating with various teams of mining machines to make MATRIX accessible to different platforms.
Why are MANs distributed on the Ethereum?
Since the MATRIX's mainchain has not yet been developed in the beginning, MATRIX will release a number of demo and beta applications on Ethereum Square. MATRIX will distribute the ERC-20 tokens called MAN on Ethereum Square to all participants of the project at the end of the ICO. All holders of the MAN tokens can later exchange to MAN tokens on the new MATRIX blockchain on a one-to-one basis.
What is the governance structure of MATRIX?
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 MATRIX. The law firm, ReedSmith Richards Butler is the legal advisor to the Foundation on this ICO.
What is the issuing price of MAN?
The official price of each MAN token is USD 0.36 and the exchange rate of MATRIX will be determined on the day before the start of the ICO based on the price of ETH quoted on a leading exchange selected by the Foundation.
How can I participate in the MATRIX ICO?
Please visit the website of the MATRIX Project at www.matrix.space or the Foundation website www.matrixchain.io for official ICO. Locate the entrance to the ICO channel and get through the KYC certification to participate in the MATRIX ICO. We only accept Ethereum for the token purchase.
MATRIX product development schedule?
MATRIX will use the best efforts to follow the product development schedule below.
2018.9: Initialization and deployment of the basic infrastructure
2018.12: Deployment of a high speed network
AI-enabled PoS + PoW consensus
Random generation of delegates nodes
Evolutionary parameter optimization
2019.3: Deployment AI-secured intelligent contracts
AI based proactive protection
AI created autonomous constitution
2019.12: Deployment of mining facilities and big data Applications
Big data applications
How are MATRIX tokens distributed?
Among the 1,000,000,000 MAN Tokens, a total of 150,000,000 are to be 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, a new and separate Matrix blockchain will be created and deployed before March 2019. After the launch of this new blockchain, the original 250,000,000 MAN tokens will be swapped on a one-to-one basis into new MAN tokens in the new blockchain. Afterwards, the Foundation will plan for additional issue of new tokens on the Matrix Blockchain as follows:
(2) 200,000,000 tokens will be issued for one or more subsequent sale(s) to the public on later dates as Additional Token Sale (“ATS”), the proceeds of which will be deployed on system scale up and production developments.
(3) 400,000,000 are reserved as rewards for miners who contributed to the Proof of Work consensus when a complete MATRIX blockchain has been developed and deployed.
(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 construction activities of the MATRIX Blockchain.