Matrix AI : The intelligent blockchain & fastest blockchain — Season 2

MATRIX AI — the fastest and intelligent blockchain

Ever since the Bitcoin blockchain has been introduced, the new era of decentralized peer to peer payment system has started and developed at the steady pace. Ethereum network brought new concepts of executing the electronic transactions on the decentralized network with the introduction of smart contracts and dApps. These were the primary blockchains that played the vital role in the advancement of decentralized transactions. Both Ethereum and Bitcoin blockchain being the revolutionary technology, both of them are subjected to the primary issue of scaling because of their transaction confirmation speed & higher value of their native cryptocurrency. But one of the most important metrics of transaction per second speed is the one that impacts the scalability the most. Indeed, transaction speed is at the center of concerns about the scalability of blockchains like Bitcoin and Ethereum.

Other reasons behind the importance of transaction per second speed are the blockchain mass adoption and P2P decentralized payment promotion. For instance, the slower the transaction speed of the blockchain the more consumers and merchants will have to wait for their transactions to be completed. Which can be frustrating & painstaking resulting in the increasing dependence on the fiat currency. While degrading the cryptocurrency utilization in daily life. Though, MATRIX AI has brought the perfect solution to the issues of transaction speed and scalability of decentralized platforms which is discussed later on. Let us first have look at the transaction per second speed of popular central and P2P platforms.

Transaction per second — TPS

The transaction speed is actually the time taken by an individual transaction to be confirmed. Many people often confuse it with block timing which is time taken by the block to be added to the public ledger. Block time depends on the size of the block, which is 1MB for Bitcoin blockchain and always takes about 10 minutes to be mined & for Ethereum, the block size is around 20–30kb & always takes about 10–20 seconds to be mined. Block mining is the stable mechanism and it also plays the vital role to exceed the transaction time. The more efficient the consensus mechanism (such as PoW and PoS) the greater transaction speed can be achieved. There is hardly any decentralized platform that allows 1000 transactions per second but the Matrix network is exceptional as it can perform more than half million transactions per second. Let’s compare the TPS speed of some well-known decentralized and centralized platform to get the better insight of Matrix (MAN) network.

TPS of various decentralized and centralized platforms Vs MATRIX AI blockchain

Bitcoin blockchain

Bitcoin blockchain can process an average of 7 transactions per second which make it one of the sluggish blockchain compared to cryptocurrency platforms like Ethereum, Ripple, and LTC (56TPS) & centralized platforms such as PayPal and Visa. It takes about 60 minutes for the transactions to be confirmed.

Ethereum blockchain

Ethereum blockchain can perform up to 12–20 transactions per second which is pretty slow compared to Ripple, LTC, BCH, PayPal and Visa and it takes up to 6 minutes an individual transaction to be confirmed.

Ripple

Ripple is the only crypto platform which can process up to 1500 transaction per second with 4 second confirmation time, which is way greater than BTC, ETH, and LTC. Ripple is far ahead of the curve in proven transactions speeds as XRP dev team claims that it can reach up to 50,000tps.

PayPal and Visa

The most popular centralized platform Visa and PayPal can process 24000 (56000 max TPS) and 193 (450 Max TPS) transactions per second respectively. Visa is currently the most advanced and fastest platform that can handle the greatest number of transactions per second.

MATRIX AI blockchain

Compared above-mentioned platform, the AI based MATRIX platform has an ability to process more than 50,000 transactions per second which clearly outperforms the number scored by Visa, PayPal, ETH, XRP, and LTC or simply any other cryptocurrency and traditional platform. According to the recent public demonstration of MATRIX network, it has achieved the tremendous speed of confirming the transactions which is more than fifty thousand per second. The lighting fast transaction speed actually solves the previously mentioned issue of blockchain scalability and mass adoption. The consumers and merchants will not have to wait for hours anymore for the transactions to be completed. All credit goes to the fusion of powerful artificial intelligence and hybrid consensus (PoW + PoS) mechanism of MATRIX blockchain. unlike Bitcoin and Ethereum, Matrix also saves the operating cost while benefiting the users by saving the transaction fees. When it comes to mining on MATRIX AI, the hybrid mechanism saves put an end to high energy consumption while securing the blockchain from attacks like a 51% attack.

The intelligent blockchain & fastest blockchain — MATRIX AI

MATRIX is a new generation blockchain (intelligent blockchain) which is the perfect blend of the most powerful blockchain technology and evergreen AI tech. MATRIX is a platform which incorporates blockchain and AI to enable the realization of the Intelligent Blockchain. The hybrid mechanism of MATRIX AI permits it ultimate performance & efficiency while the use of AI allows innovations such as natural-language smart contracts (Intelligent Contracts), continual network optimization, formal contract security verification, and more. The native cryptocurrency of the MATRIX blockchain called MAN will support faster transaction speed, vast adoption, rock-solid security and flexibility for implementing new concepts. Above all of that, being an open source public network, the MATRIX will also allow the large business organization the seamless integration between other private and public blockchain. In summary, Matrix AI is one of the fastest and the most efficient blockchain with numerous utilities built with an aim to revolutionize the first generation blockchain technology.