As promised, the Matrix AI team has launched its Mainnet. The Matrix AI Network boasts of addressing critical challenges of legacy blockchains such as speed, safety, functionality, performance, and interoperability.

Schematics of the Matrix AI Network.

The key components of Matrix’s network include its:

1.       Mining Network

2.       Verification Network

3.       Distributed Storage Network

4.       Compute Network

5.       Sidechains

Mining and verification networks as the names imply handle normal blockchain operations such as packaging and verifying transactions. The Storage Network is based on IPFS tech and allows users to store and transfer large-scale data on the Matrix Network. The Compute network afford organizations the opportunity to customize their operations and services while interacting with the network’s ecosystem. Finally, Sidechains facilitate interaction and sending of transactions to other chains via secured gateways.

Matrix is a hybrid blockchain which combines PoS and PoW consensus algorithms. The network achieves high throughput speeds by implementing a stochastic clustering algorithm. With this, a unique delegated network is generated for every cycle. The network already boasts of achieving transaction speeds in excess of 5000 TPS.

The Matrix AI Network is equipped with a formal verification toolkit to recognize transaction vulnerabilities, identify loopholes, and correct errors. Each and every intelligent contract is verified before they are initialized.

The Matrix AI network achieves functionality and performing by using the computing power of nodes that are not actively involved in mining and verification tasks. The computing power of such nodes is used to solve AI tasks in exchange for token rewards. Matrix also uses deep learning algorithms in place of a traditional hash algorithm. In line with this, the team has revealed that they will be releasing a mining machine in the coming months.