The invention of Bitcoin in 2008 symbolized the advent of cryptocurrency. The succeeding years witnessed a dramatic growing of the blockchain technology. The introduction of Ethereum opened the path for supporting complex business behaviors with cryptocurrencies. The overall momentum of development, however, is now facing a series of key challenges. These include:
(1) slow transaction speed;
(2) programming barrier of smart contracts;
(3) lack of security in smart contracts; and
(4) inflexibilities in managing and updating blockchains.
Designed to be the new generation blockchain, MATRIX leverages the latest artificial intelligence technology to resolve the abovementioned challenges. The fusion of blockchain and AI technologies enables MATRIX to build a revolutionary cryptocurrency, which support significantly boosted transaction speed, superior accessibility to general users, enhanced security under malicious attacks, and highly flexible operations.
1. Objectives of MATRIX
The challenges facing today’s blockchains have to be resolved before the ideal of cryptocurrency can really become reality. We believe the artificial intelligence technology, which has received an unprecedented growth in the past decade, provides out-of-box solutions to address the challenges. MATRIX is designed to be an intelligent chain to unleash the potential power of the blockchain technology. In this section, we briefly review the objectives of MATRIX.