A MATRIX Chain Seeking to Define Blockchain 3.0 by Incorporating Blockchain and AI

BEIJING, Aug. 8, 2017 /PRNewswire/ -- A few days ago, a blockchain called "MATRIX Chain", which several Chinese scientists have played a leading role in the research and development, made a splash in its sector. By incorporating artificial intelligence (AI) into the underlying data chain, the innovation has made this blockchain smarter, easier to use, and capable of evolving constantly through self-learning.

Starting with the underlying technology of blockchain

According to MATRIX's AI chief scientist Deng Yangdong, MATRIX Chain, as a new generation of blockchain with AI, can dynamically update the parameters for various blockchains so as to realize self-evolution. Furthermore, MATRIX Chain can also address the issues during the finalization of the current blockchain designs and the inflexibility in adjusting various blockchain parameters. For this, MATRIX Chain could be deemed as blockchain 3.0.

Automatically discriminating loopholes in transactions 

"Smart contracts of MATRIX Chain are dedicated to address the above issues for which the solution is a conventional centralized system," explained Li Qinghua, MATRIX's chip and software architecture chief scientist. With the introduction of AI models based on the principle of non-discrimination, the smart contracts of MATRIX Chain enable the automatic judgment on the reasonability of transaction models, the automatic detection on loopholes in transactions, and the execution of a civilized process of transactions under contracts. Furthermore, with built-in AI transaction models, and upon the approval of users, unreasonable transactions will be automatically refused, establishing a rule for MATRIX Chain transactions.

Setting up a blockchain that everyone knows how to use

By incorporating AI-based algorithm, MATRIX Chain is able to solve many non-linear and more complicated problems, largely lowering the barrier to application and thus significantly improving the scope of application of blockchain technology.

Deng said that quasi-Ethereum smart contracts are more like an exclusive application for a small group of technicians who are familiar with codes than a generic one for ordinary users. However, after AI has been incorporated, the only operation ordinary users need to do to generate a smart contract is to type in the transaction objective and textual description of transaction conditions, making smart contract service easily accessible for everyone.