Paradigm
Published in

Paradigm

Matrix Ai Network: Matrix Web Wallet Manual, Network participation incentives update and 300,000 MAN ($37 853) to Give Away

Biweekly update 18th April — 2nd May

Development

Github metrics
Developer activity (from Coinlib.io)

The Matrix Web Wallet enables several functions including native MAN token transactions, Masternode staking, AI transactions and Mainnet smart contracts. However, before engaging with these core features, you first need to create your own Matrix wallet address.

How to create and use a Matrix wallet address

Before engaging with Matrix Web Wallet, you should first download and the Matrix Web Wallet Manual from the Matrix website and create a Matrix wallet address. Creating a new wallet address is simply — you simply need to click “Create a wallet” on the wallet’s homepage.

How to back up the Matrix wallet address

After creating a new Matrix wallet address, you can back up your wallet by exporting a keystore, private key and/or a mnemonic. As the Matrix AI Network is compatible with several other chains, you can use your Ethereum wallet’s keystore or private key to open a Matrix wallet should you choose to do so. However, please note that you should only use the Matrix Web Wallet’s mnemonic login to open native MAN wallets.

How to use the Matrix web wallet

As mentioned, the Matrix Web Wallet enables several functions including native MAN token transactions, Masternode staking, AI transactions and Mainnet smart contracts.

MAN token transactions

After logging into your Matrix wallet address, you can transfer native MAN tokens in the “My Wallet” tab of the Matrix Web Wallet. Detailed instructions outlining how to transfer tokens are included in the Matrix Web Wallet Manual.

Masternode staking

In order to run a Matrix Masternode, you must first stake tokens. Please refer to the Matrix Node Deployment Guide available for download on the Matrix website

AI transactions

The first batch of AI transactions are currently publicly online and available include Lung cancer diagnosis, pose detection and object detection. All are accessible in the web wallet’s “AI Application” tab. Please note that while pose detection and object detection services support simple images, the Lung cancer diagnosis function requires CT scans.

Mainnet smart contracts

Individuals can currently write smart contracts that will run on the Matrix AI Network in the wallet’s “Contracts” tab. These are not to be confused with auto-coding intelligent contracts.

How to secure your wallet

In order to protect your assets, the Matrix Web Wallet supports both online and offline modes. Whether in online or offline mode, the wallet functions remain the same. However, a significant difference occurs at the moment then a transaction is signed. Signing transactions while offline requires you to disconnect your network. While disconnected, your device signs the transaction using your private key. Once the transaction signature is complete, your device goes online and synchronizes the signature information.

A Smart City’s Foundation — the IoT Cloud Platform

Matrix’s IoT Cloud Platform consists of four technical layers: IoT hardware, IoT intelligent gateway, IoT cloud system and AI/tracking applications.

The IoT hardware layer includes, amongst other things, temperature sensors, humidity sensors, accelerometers, GPS, NB-IoT/GPRS wireless modules, and RFID tags. These all help the IoT Cloud Platform collect valuable necessary data and form an indispensable part of the platform.

The IoT intelligent gateway layer includes a universal gateway for collecting package location, tag and delivery documentation information. This layer also collects environmental data, video, images and sound. It also contains a device gateway to serve logistics and warehousing.

The IoT cloud system layer includes the Matrix AI Network’s AI Server, blockchain technology, cloud storage and an information push engine.

These layers combine to enable the IoT Cloud Platform applications to serve and upgrade retail operations, information verification, logistics and tracking.

On the road to Intelligent Logistics

At its core, intelligent logistics does not differ drastically from traditional logistics. The general workflow of both is the same. Differences lie in an increase in efficiency and a reduction in error through intelligent automation. Intelligent logistics relies heavily on information collection and management. As such, each package is given a unique ID when it is put into inventory. This ID is displayed using a QR code to facilitate querying. When taken out of storage, the package is scanned and tracked with on-chain data. The package is again scanned and tracked when loaded and removed from the delivery vehicle. During transportation, the vehicle is tracked. If the package arrives safely, the process is complete and confirmed. If an accident occurs during transportation or delivery — whether the package is lost, damaged or otherwise — an alarm is automatically triggered, and the position and direction of the package are confirmed via blockchain data.

6 for 6: An Intelligent Warehouse Solution

Matrix’s Intelligent Warehouse Solution comprises six systems including power monitoring, fire detection, dangerous object detection, security monitoring, AI data analysis and an intelligent cloud platform. These systems incorporate a number of core technologies including industrial big data, artificial intelligence and blockchain to create an Intelligent Warehouse aimed at realizing six primary objectives: data verification for AI models, production safety, warehouse management, early warning, regulatory compliance and task tracking.

Function and Form… there’s an APP for that!

The ubiquity of smartphones means it is no longer necessary to conduct the operations and management of industrial systems in centralized large-screen platforms. Matrix’s Intelligent Warehouse Solution allows users to manage equipment, projects, alarms, videos, inspections and maintenance using a convenient mobile App. Users also receive timely alerts to greatly reduce the change of accidents.

Matrix’s efforts in Intelligent Logistics and Intelligent Warehouse are in service of a Smart City future. The emergence of smart cities is not only driven by the gradual rise of society’s technological competency, but by a belief that technology should be in service of improving people’s lives; in this case, by improving the efficiency of urban governance and alleviating resource constraints. Matrix’s Yangdong Artificial Intelligence Research Institute hopes that the integration of artificial intelligence, blockchain, big data and the Internet of Things will transform and upgrade the logistics and warehousing industry, and ultimately improve people’s lives.

Social encounters

The article covers the future of blockchain and artificial intelligence. According to Dr. Steve Deng, the measure of intelligence is the ability to change. AI offers effective methods to learn from history, while blockchain allows us to build trusted relations by following business networks. Together, they give us the ability to adapt to changes. Moreover, trustworthy data is the life-blood of artificial intelligence, while the blockchain is designed to maintain trustworthy data.

See also:

Finance

The number of transactions (information from tom.matrix.io/home)

Update 1: Masternode Election Mechanism

As most of you know, the Matrix AI Network consists of a series of gears and mechanisms; each with a role and all working in concert. Two core components include the Mining Network and the Verification Network. Both are jointly responsible for maintaining normal blockchain operational tasks such as packaging and verifying transactions.

Every cycle (300 blocks), 32 Mining Masternodes, 19 Verification Masternodes and 6 Backup Verification Masternodes are selected.

Selecting Mining Masternodes

The selection of Mining Masternodes does not relate to the node’s stake, so long as the node’s stake exceeds 10,000 MAN tokens. In other words, Mining Masternodes are selected randomly, with equal opportunity, regardless of stake.

Selecting Verification Masternodes

“Unlike with Mining Masternodes, the selection of Verification Masternodes is impacted by both your stake and past performance. The larger your stake, the more likely you are to be selected. Additionally, if your history contains harmful behaviour — such as going offline — you will be less likely to be selected in the following cycle.”

Update 2: Network Participation Incentives

As mentioned, every cycle (300 blocks), 32 Mining Masternodes, 19 Verification Masternodes and 6 Backup Verification Masternodes are selected. Matrix Masternodes receive participation incentives for performing mining and verification tasks. Every Masternode is also given an Individual Weight Coefficient according to their stake. This Individual Weight Coefficient impacts certain aspects of the Matrix AI Network such as stake rewards (more below). The Individual Weight Coefficient is assigned as follows:

Block Rewards

There is a total of 400,000,000 MAN tokens available as block rewards. For the first 5,000,000 Block Period, each block yields 10 MAN tokens at a targeted blocktime of 6 seconds. Due to the fact that there is a broadcast block every 100 blocks, and that these broadcast blocks contain no rewards, the total block reward yield during the first 5,000,000 block period amounts to 49,500,000 MAN tokens. Each subsequent 5,000,000 block period, the total block reward yield will reduce by 15%.

The table below should help clarify:

Unlike other prominent blockchain solutions, Matrix rewards more than just the block creators. Block rewards are distributed as follows:

Stake Rewards

Stake rewards are distributed to every person with a stake every 3,600 blocks. Each individual’s stake rewards are calculated as follows:

  1. First, each individual’s stake reward is calculated using the following formula:

2. Second, penalties are applied. Penalties are calculated as follows:

Please note that the % of blocks when an individual is offline will not exceed 75%, even if the individual Masternode has been offline longer.

Transaction Fees

Transaction fees, or gas, are paid to verifiers in the following manner:

Update 3: Token Redistribution

As previously mentioned, because the initial nodes were all be run by the Matrix AI Network, earned rewards will be returned to the ecosystem in the following manner:

1. Mainnet Airdrop

Total Amount: 1,000,000 MAN Tokens

To: Everyone who completes the swap using Matrix Web Wallet Auto-Swap, KuCoin or Coinegg.

Amount per person: Random

When: April 25th, 2019

Note: Both KuCoin and Coinegg will both participate in the Mainnet Airdrop. The Matrix AI Network will transfer tokens to both these exchanges to conduct the Mainnet Airdrop on April 25th. Each exchange may airdrop tokens on a slightly different schedule. Please wait for each exchange’s own announcements.

2. Token Burn

Total Amount: 2,000,000 MAN Tokens

When: April 25th, 2019

3. Testnet Participation Appreciation

To: Everyone who formally applied for testnet tokens before February 22nd, 2019

Amount per person: 500 MAN tokens

When: The Matrix team will reach out to testnet participants via email before April 22nd. Upon receipt of this email, please reply with your Matrix Wallet Address before April 25th 2019.

4. Early Mining Masternode Incentive

Total Amount: 200,000 MAN

To: The first 200 people to stake Mining Masternodes and remain online for 100,000 blocks

Amount per person: 1,000 MAN tokens

When: TBA

Note: The Early Mining Masternode Incentive will be given out once all the requirements have been met.

5. Early Verification Masternode Incentive

Total Amounts: 200,000 MAN

To: The first 100 people to stake Verification Masternodes and remain online for 100,000 blocks

Amount per person: 2,000 MAN tokens

When: TBA

Note: The Early Verification Masternode Incentive will be given out once all the requirements have been met.

Update 4: More Token Redistribution

In order to ensure a stable network while community nodes come online, the Matrix team has left several nodes deployed. Some of these serve infrastructure needs and do not receive rewards (i.e. broadcast nodes). Others were standard mining and verification nodes. The rewards earned by Matrix nodes will be redistributed to the community. While the specific distribution method will be announced nearer the date, it will account for which nodes were impacted by the presence of Matrix nodes the longest.

The Matrix team will shut down all team nodes that earn rewards beginning April 19th, 2019. It is estimated that all nodes will be shut down by the 24th of April.

To celebrate the official launch of MainNet Matrix AI Network, the MAN team has provided a total of 300,000 MAN to be airdropped to MAN holders who are holding 100 MAN or more on KuCoin.

The amount of MAN airdropped to each qualifying MAN holder will correspond to their percentage holding of the total MAN balance held by all KuCoin users at the time of the snapshot.

Reward Calculation:

Reward for each user = (Each user’s total MAN balance/Total MAN balances from all qualifying users) × 300,000 MAN

Note:

  • We will take a snapshot of MAN balances at 18:00 on 5/5/2019 (UTC+8).
  • MAN balances under 100 MAN (including those in trade orders) will not be eligible for the airdrop.
  • Sub-account can’t participate in this activity as an independent account. However, the MAN holdings in the Sub-account will be combined into the Master account for calculation.

Roadmap

What’s next?

  • GPU mining will be available in the summer of 2019.
  • FPGA mining will be available by the end of 2019.

Partnerships and team members

No updates

Rumours

No updates

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

The chart above illustrates 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 (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 graph above shows the dynamics of changes in the number of Matrix AI Network Reddit subscribers, Twitter followers and Facebook likes. The information is taken from Coingecko.com

This is not financial advice.

Subscribe to detailed companies’ updates by Paradigm!

Medium. Twitter. Telegram. Reddit.

--

--

Paradigm is an ecosystem that incorporates a venture fund, a research agency and an accelerator focused on crypto, DLT, neuroscience, space technologies, robotics, and biometrics — technologies that combined together will alter how we perceive reality.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store