Matrix AI Network: Mainnet Launch, the MBC Project and Partnership with LITEX
Biweekly update 21st February -7th March
This is not financial advice.
During the last two weeks Matrix AI Network illustrated high social activity. To start with, the Matrix AI Network Mainnet was launched on February, 28. The Matrix AI Network team has built a high performance blockchain that addresses the issues of speed, safety, performance, functionality and interoperability that have consistently plagued blockchain’s first two generations. To continue, the MBC platform, the world’s only international shipping intelligent trading platform, will be developed by the Matrix AI Network. It will exist as a sidechain in the Matrix ecosystem. Development includes a Payment Settlement System, Financial Service System and Transaction Matching System. Finally Matrix announced about its partnership with LITEX to enable interoperability with other public chains with an eye towards enabling easy transfers between the MAN token and other currencies via atomic swaps. LITEX’s layer-2 technology will enable the Matrix AI Network to reach even greater system throughput speeds.
To sum up, Matrix AI Network moves in the right direction. No doubt that successful Matrix Mainnet launch and beneficial partnerships will increase the number of users of its blockchain platform.
The Matrix AI Network consists of a series of gears and mechanisms, each with a role and all working in concert. Core components include a Mining Network, a Verification Network, a Distributed Storage Network, a Compute Network, and Sidechains.
The Mining and Verification Networks are jointly responsible for maintaining normal blockchain operational tasks such as packaging and verifying transactions.
The Distributed Storage Network, based on IPFS technology, supports large-scale data storage and provides users the ability to upload, store, and transfer multimedia content such as videos and pictures through the Matrix AI Network — the type of content that is vital to Matrix’s world-class AI services.
Matrix’s multichain architecture allows for different organizations to customize their operations and services while continuing to interact seamlessly with the rest of the Matrix AI Network ecosystem.
Sidechains can have their own data format, consensus mechanism, and validation protocols while still interacting with and sending transactions to other chains through secured gateways.
The Matrix AI Network uses a hybrid PoS/PoW consensus mechanism — dubbed HPoW — to enable high system throughput speeds. By using a stochastic clustering algorithm, a dynamic delegate network is generated every election cycle to ensure high concurrency throughout the network without sacrificing the notion of decentralization that sparked the blockchain revolution. This is also what allows the Matrix AI Network to exceed 5000 TPS in the early goings. Users’ stakes ensure that participants are invested in the health of the Matrix AI Network ecosystem, while the stochastic clustering algorithm makes collusion untenable and limits the impact of any single participant.
After months of development and hippology research, the Matrix team unveiled Horse Saga, a Dapp launching on the Matrix AI Network Mainnet.
Breeding, raising and racing horses is a lifetime commitment requiring time, patience, and deep pockets. It is not a life to enter into lightly as horses need ample training regimens, comfortable stalls, outdoor shelter, plenty of grass and hay, occasional grains and treats, unlimited access to water as well as routine maintenance including hoof trimming, dental care, vaccination and grooming. All things considered, horses can easily cost tens of thousands of dollars per year.
Participating in the closed beta also comes with several opportunities to receive MAN tokens and other rewards. For example:
- Earn 50 MAN tokens each time your feedback regarding optimization and interface issues is implemented
- Earn 100 MAN tokens each time you submit a major confirmed bug
Participants will also be rewarded on a case-by-case basis for submitted blogpost-style articles depending on the quality and scope of the content. Full details to follow.
As a final note, please understand that Horse Saga is still an unfinished product. Those who have never played an unfinished game may be caught off-guard. The Horse Saga team hopes to create a viable and fun blockchain gaming DAPP and looks forward to the Matrix AI Network community’s help and support.
- Justin Sun vs Vitalik, Ethereum vs Bitcoin, Digitex Futures, Matrix AI Network — Crypto News. Crypto organization @Altcoinbuzzio features Matrix Mainnet in its latest video. Matrix AI Network Mainnet Launch — 9:24.
- Why is the Matrix #Mainnet safer than others？
- Matrix AI Network weekly update video
· Gaming Dapp will soon be available for testing
· Development of the world’s first intelligent shipping platform (MBC project) progresses
· Big News! Matrix Mainnet launches February 28
· Answers to your masternode testing questions
The Matrix AI Network Mainnet: Matrix Chief AI Scientist Professor Steven Deng introduces the Matrix AI Network and provides updates on several key features.
· Matrix Mainnet is live!
· CEO Owen Tao Reddit AMA, March 7th
· Bitgrit and Matrix cooperation
· Korea expansion
· Chief AI Scientist @SteveDeng_AI is on Twitter
· What is “MAX TPS”? and answers to other questions
The Matrix AI Network token swap is occuring without any set time frame so there is no hurry as token holders have ample time to convert their tokens. Even though there has not been any new developments regarding the token swap it can be expected that a new details will be emerging soon with more announcements as to which exchanges will be supporting the token swap.
Real Time Mainnet Status
Community members will have the ability to view real time stats on the Main net via the Matrix Blockchain Browser. This will display several data such as the current block height, block time, transactions, max TPS as well as the last mined blocks.
Since the inital nodes deployed on the Matrix main net will be ran by the Matrix team there is an issue regarding the blocks rewards generated during the initial mining period. Matrix will be returning all the block rewards earned during this initial period back to the community through the form of the following airdrops and token burns.
- Mainnet Airdrop: Matrix will be randomly distributing 1,000,000 MAN tokens to every person who completes their token swap once mining and verification masternodes are open to the public.
- Early Mining Masternode Incentive: Matrix will distribute 200,000 MAN tokens between the first 200 people to partcipate in running a node which remains online for a cumulative 100,000 blocks.
- Early Verification Masternode Incentive: Matrix will distribute 200,000 MAN tokens between first 100 people to stake verification masternodes that remain online for 100,000 blocks.
- Testnet Participation Appreciations: 300,000 MAN token will be distributed among everyone who applied to run a Matrix testnet before February 22nd 2019, this equates to around 500 MAN tokens per person.
- Token Burn: The matrix team will be burning 2,000,000 MAN tokens. Matrix will be putting any remaining token block rewards towards further development of the ecosystem through the likes of AI research projects, dAPP development etc.
- Horse Racing Saga: As part of Matrix’s foray into blockchain games, they have developed their first gaming dAPP. This game is a horse racing game and a beta will be released soon through an invitation code the community can apply for. Beta participants are likely to be receiving various rewards for their participation.
2. MBC Project: The MBC Project is the only international shipping intelligent trading platform servicing the dry bulk market. The MBC platform combines the bulk market international shipping with internet services while also using artificial intelligence and blockchain to optimism shipping practices. Petro china, one of china’s largest oil and gas company with an annual revenue of over 300 Billion Dollars, and the MBC project have reached a cooperation agreement to use the platform once its live.
Partnerships and team members
The MBC platform, the world’s only international shipping intelligent trading platform, will be developed by the Matrix AI Network. It will exist in the Matrix ecosystem as a sidechain. Development will include a Payment Settlement System, Financial Service System and Transaction Matching System. Leveraging the Matrix AI Network’s expertise in both blockchain and AI, shipping industry bottlenecks will be shattered.
The MBC Project is committed to solving problems that have plagued the industry for over a century. The MBC platform integrates traditional dry bulk market international shipping with internet services, while combining artificial intelligence and the latest in blockchain technology to optimize incumbent shipping practices, open new financial channels and reduce shipping costs while increasing success metrics for all global shipping participants.
Payment Settlement System
Because the international shipping industry crosses several borders, funds are required to flow between several banks in several countries. As a result, many payment settlement issues plague the industry; for example, untimely settlement, high settlement costs and multilateral currency exchange fees. A blockchain-based payment system presents an effective and fitting solution to these problems.
The MBC platform uses a dual token system; the MTT and the MCoin. The first is the MTT. It circulates within the MBC platform ecosystem and is anchored to a basket of currencies. It serves as a settlement token to address the need for cross-border funds. Relationships with banks will be leveraged to open legal currency channels and minimize the exchange rate risk present in multilateral currency exchanges. This will also save on the high costs of interbank settlement.
The second token is the MCoin. This token encourages platform participation by offering rewards to platform users. It can be exchanged with the MTT using a real-time exchange rate. The MCoin will be sent to select registered users of the MBC platform during the initial promotion phase. Additionally, the MBC platform will distribute MCoin to platform users who have reached certain set volumes of transaction.
Financial Service System
The data transparency enabled by blockchain technology, combined with Matrix’s technical proficiency, allows the MBC platform to implement an AI-backed credit assessment framework and use a dual credit risk scoring mechanism. Additionally, the MBC Project will work with Matrix to create an AI-backed financial service system that includes investment and financing services, shipping insurance and related legal compliance consultation.
Transaction Matching System
The MBC platform enables consensus across the vast network of ships populating the international shipping industry through the Transaction Matching System; all while supporting multiple flexible customized services. Based on Matrix’s AI technology and the MBC Project’s massive database of shipping industry customer data, goods and carriers can be matched while still allowing for third-party generated and managed intelligent contracts. Using AI to collect, match and analyze data enables the generated information relating to cargo dynamics, ship and dock information to be shared widely. This encourages the identification of real customer needs. Additionally, the MBC platform will provide a number of additional services such as route optimization, contract verification, smart ports, etc. These additional services will be opened one-by-one following the construction of the platform.
Matrix is working with LITEX @litex_io to develop its layer-2 technology, a tech solution that improves throughput speeds of public chains far beyond native capabilities.
Matrix, using a stochastic clustering algorithm and a hybrid PoS-PoW consensus mechanism called HPoW, has spent the last several months demonstrating that it is possible to achieve high system throughput speed without sacrificing decentralization.
LITEX, for its part, has achieved several technical milestones. By upgrading the original Lightning Network stack, LITEX has enabled partial withdrawals, channel expansion and cross-chain (BTC and ERC20, to start) atomic swaps since releasing V.02 of its testnet in October 2018. Realizing how important system throughput speed is to mainstream adoption, LITEX has spent the last couple months testing their Layer-2 solutions on public chains. By first processing transactions off-chain before reintegrating the data on to the main chain, LITEX is able to help public chains achieve off-chain system throughput speeds far beyond their native capabilities. LITEX’s layer-2 technology, when combined with a technologically superior public chain like the Matrix AI Network, will enable the Matrix AI Network to reach even greater system throughput speeds.
With the Mainnet launched, Matrix’s focus turns to the development of applications that promote mainstream and enterprise adoption. To this end, Matrix already has several applications in the works across multiple industries.
In the medical field, Matrix is actively working with several prominent hospitals including the Beijing Cancer Hospital and the 302 Hospital, to develop AI-assisted cancer early-diagnostic systems. In the supply chain industry, Matrix is working on the MBC Project, the world’s first and only international shipping intelligent trading platform aimed at the dry bulk market.
To this end, LITEX is also making great strides. Last December, at the Alchemy Worldwide Developer Conference, LITEX publicly demoed the world’s first commercial-grade layer-2 application — a coin-throwing DApp built on Rinkeby.
Those in attendance were able to get hands-on time with this application. Starting with a single Rinkeby-ETH, people furiously competed for 100 seconds to outperform one another and accumulate as much Rinkeby-ETH as possible. The winner of the competition earned over 17 Rinkeby-ETH. A demo of this application will be released shortly.
Alongside blockchain DApps, layer-2 technology has a prominent role in the mainstream adoption blockchain solutions by greatly improving the performance of public chains. LITEX, as part of the collaboration with the Matrix AI Network, will continue to refine and improve layer-2 technology using Matrix’s AI expertise. Matrix, as part of the collaboration with LITEX, will continue to improve interoperability with other public chains and push the limits of system throughput speed.
These kinds of relationships are incredibly important to the development of the blockchain industry. In order to promote the commercial usefulness of blockchain solutions, the Matrix AI Network will continue to cooperate with other like-minded projects while remaining steadfast in improving network speed, security and usability.
Smart City projects
Computational power and Matrix AI’s place in the rapidly emerging power
Options for token swap
AI Medical Demo
Social media metrics
The charts above illustrate a slight decline in the number of Telegram followers. In general, Matrix AI Network experiences average level of social activity.
- Twitter (Matrix AI Network) — official announcement channel. Recent publications — about the Matrix Mainnet and new partnerships (100–400 likes per publication).
- Facebook — official announcement channel — duplicates news from Twitter (10–20 likes per publication).
- Reddit — news about projects and blockchain, links to interviews, podcasts, upcoming events. The longest thread has 181 comments (I’m Matrix CEO Owen Tao. Ask Me Anything on Thursday, March 7th at 10am China Time!)
The graph above shows the dynamics of changes in the number of Matrix AI Network Reddit subscribers, Twitter followers and Facebook likes.