Updated: Matrix AI Network (MAN)
China blockchain projects are experiencing an interesting transition. While China clamps down on ICOs and trading, some blockchain projects are thriving. Remember, China dislikes cryptocurrency, but loves blockchain.
China, for all the crypto industry woes it caused, was smart to clamp down. China plays to win and China is very patient. They focus on the future and winning in the long term.
It is true China shut down trading because they want to protect consumers from ponzi schemes and scams, but they also did it so they could reign in all the scam ICOs and figure out how to make their premier blockchain projects rise to the surface. They will not let the outside world own blockchain. Remember that.
The most promising projects in China are the likes of IoT Chain, Nebulas, Arckblock, CPChain, and others. Notice that we didn’t mention NEO. NEO is the crypto world’s darling right now and for good reason. NEO has tremendous momentum and a killer platform, but the folks that we have spoken to within China think NEO is a Western manufactured superstar. That doesn’t mean that they don’t think the technology is great… they just don’t feel like its China’s alone. They prefer truly homegrown top tier technologies where they can hang their prideful hats on.
That brings us to Matrix AI Network. Matrix has some 3.0 (argue 4.0) features that really address a lot of the pain points that current day and even forward thinking platforms can only dream about.
Price at moment of writing
Medium risk, high reward
A. REAL LIFE VALUE OF PROJECT (90/100)
MATRIX is an open-source blockchain that supports smart contracts and machine learning services. With its infrastructure 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 continuous adaptive self-optimization and multi-chain collaboration and transaction. In addition to refactoring the blockchain with AI, MATRIX also allows its mining power to be used AI based big data applications (gene regulatory networks, clinical diagnoses, video analytics and more) by solving complex AI algorithms. This takes the large amounts of energy consumed by typical proof of work calculations and allows them to directly add value to the world, and to the applications that will run on the MATRIX chain.
B. DISRUPTIVENESS OF PROJECT (100/100)
Features of MATRIX — — Intelligent Blockchain
EASIER — Intelligent Contracts allow everybody to design smart contracts without explicitly programming. Only 20 million out of the world’s 7 billion people can program, but for smart contracts to truly reach their full potential, they should be able to be deployed by anyone. MATRIX’s AI allows anyone to deploy smart contracts using their natural language as long as they input the purpose of the contract and the launch conditions, in addition to programmers being able to write contracts as they normally would. This opens up smart contracts to 350x more people than Ethereum does. This is not just conceptual, the Chinese natural language implementation is already complete. Even thinking beyond the scope of the real world, just think on Reddit, everyone will be able to write their own smart contract bets, forced hodl contracts, anything..
SAFER — Making blockchains more robust under malicious attacks. MATRIX’s AI goes through a formal verification process before each smart contract before it’s deployed to ensure there are no bugs or vulnerabilities present.
FASTER — Enabling faster applications and transactions. MATRIX have engineered an ingenious solution to scaling: clusters and hierarchy. The network is continuously split into random clusters and a so-called delegate node within each cluster carries out the PoW calculation. The chance of becoming a delegate node is determined by a PoS calculation amongst other things. This solution eliminates the issue of latency and having to broadcast all transactions to the entire node network which is the main hurdle for scaling. Matrix’s goal of 1,000,000 TPS on-chain is a jaw dropper.
FLEXIBLE — Integrating public and private chains with the capability of adaptive optimizing. MATRIX private chains will use the same token as the public chains, and they will be able to transact across chains. Businesses will be able to choose which data they want to and which data they deem to be commercially sensitive. In addition, AI being in the base layer of the platform means that it is continuously optimizing — no guessing whether increasing block size is better or not, it will be proven via AI if it’s necessary.
To give a real-world example: let’s take a look at internal business reporting. When data analysis first started becoming important it was usually driven by IT departments creating data warehouses and building reports for the business. This was fine for standard reports that didn’t change, but what happens when a business owner wants a custom report? Insert a ticket, prioritize the ticket, development builds it, and the wait begins for the next build. This became unacceptable (rightly so) to the business so tool companies built easy-to-use end user reporting tools that allowed the business to tap into the data warehouse without IT intervention.
Now think about that analogy with smart contracts. Very few developers know solidity (Ethereum’s SC programming language) or any of the proprietary languages for smart contracts which has led to a shortage of SC developers. NEO was smart to allow widely used languages on their platform, BUT this still requires developers.
Now think about how companies who do contract execution work today. If a business analyst wants to create a contract with a vendor they don’t call IT. They create the contract, the contract terms are agreed upon, and the contract is executed. The problem with smart contracts is they require additional resources that are already at a premium. This creates added cost, time, and layers.
Matrix allows the business to design and execute the contracts in natural language. This is the game changing feature that many businesses will embrace. We can’t overstate how significant this one feature is. This will increase adoption for Matrix at a much faster pace which then creates the desired holy grail network effect.
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C. TEAM AND ADVISORY BOARD (80/100)
Matrix has an all-star team. AI wise and the best of the best (in China) having won competitions for their work. Given how hot blockchain is and how big this project is a lot of top tier developers will easily gravitate to projects like this.. They are ex Google, Facebook, Microsoft. The CEO double majored in Economics/Physics and has already been the CEO of a number of start up companies and has grown them to multi-million user bases. In 2016, their head of AI was principle architect for the AI behind China’s high speed railway early warning system. He has been project lead for numerous National Chinese research projects. Some of his work lead the MATRIX team to win 2017’s PASCAL 2 AI competition (entered as Tsinghua University), beating out teams from places like UC Berkeley, Intel and Microsoft, despite developing the tech in 2016. His book Structural VLSI Design and High Level Synthesis was recognized by China’s Department of Education as the official graduate level digital systems design textbook. He has his own page in the Chinese wikipedia. He is responsible for the machine learning algorithms and hardware architecture for Matrix.
Their head of network infrastructure/joint blockchain team lead designed China’s first WiFi chip. He also designed the communications command and control system for China’s first aircraft carrier. He has written the bestselling university textbook for IC Communications in China. The other blockchain lead formerly worked as a senior developer at Microsoft and has experience building blockchains and their related services.
D. COMPETITORS (70/100)
Ethereum an existing and open blockchain that is the fundament of a lot of ICO's. The Ethereum platform offers technology where developers can build on.
NEO is in a brief, like Ethereum, founded in China. The main difference of NEO is that developers can use common code-languages.
VeChain VeChain is a blockchain for businesses. VeChain is more focussing on ready-to-go Blockchain solutions that they adjust to a specific business, instead of giving businesses the opportunity to develop on top of the blockchain.
E. THE STAGE OF THE PROJECT (50/100)
At this point Matrix is a white paper project and temporally ERC-20 token. Matrix main net will be partially up in September 2018, with the full system online in spring 2019.
Recently, Matrix project company and Cybernaut Investment Group signed an agreement, Support Matrix to carry out blockchain and artificial intelligence research and related product development, application and promotion. As one of the leaders of China's private equity funds, CyberLink is an investment group that adheres to the spirit of innovation and entrepreneurship and provides integrated services to the development of emerging industries in the region through technology, capital and internationalization.
Cybernaut is hughe in China http://www.cybernaut.com.cn/ " As one of the leaders of private equity funds in China, Cyberlog focuses on emerging industries with strong potential for integration and platform value."
- 2017 China's most influential investment institutions
- Top 100 Venture Capital Institutions in China in 2016 (No. 15)
- 2015 Forbes China Best Venture Institution
- 2014 Forbes China Best Venture Institution
- 2014 Top 50 Venture Capital Institutions in China
- 2013 Top 5 Venture Capital Institutions in China (Foreign Investment) 9th
- In 2013, China focused on the top 10 venture capital investment institutions
- 2013 Top 10 Investment Institutions in Cleantech in China
- 2013 Top 10 Investment Institutions in China's Advanced Manufacturing Industry
F. CONCLUSION (85/100)
We have done many hours of study on Matrix and other chinese blockchain projects. This is the one that we think touches real-world use cases more than some others projects. Of all the industries that we have been in, we can honestly say each one of them would have benefited from a platform like Matrix. Kudos to the team for the solid forward thinking and addressing real-world business processes.
We cannot wait what the future will bring us. Exiting times are a head.
Can Matrix out preform NEO? Time will tell…
Remember, crypto is still very young and projects like this need time to mature. This is definitely a long game and there is a lot of risk so just be aware and due your own diligence.