Can Matrix Chain (Data Chain + Artificial Intelligence) become next revolution in Blockchain? Blockchain 3.0
Research team led by Deng Yanddong, a renewed AI scholar in China, have developed a self-learning Blockchain by incorporating artificial Intelligence (AI) into the underlying Data Chain.
According to Deng Yangdong, the blockchain technology with AI can represent the future direction of Blockchain Technology,
Now, artificial intelligence is not only the most popular term in high technology, but also the most important technology that has been acknowledged as the future direction of scientific and technological development.
The self-learning blockchain is designed to evolve by itself by adjusting to changes in external environment and service targets. Example when Blockchain was first designed its block size was set at 1MB for a single mining process at 10 minutes. However now in 2017 when adoption of Bitcoins are increasing the commercial transactions based on same parameters set in 2009 are not feasible.
Blockchain 1.0: Bitcoin –
With Mining at its core, Bitcoin first Introducted the concept and application of the Distributed Ledger Technology.
Blockchain 2.0: Ethereum –
With Smart Contracts at its core, ethereum provides an Bitcoin alternative system suitable for larger scale commercial applications.
Bitcoin 3.0: Matrix Chain ?? –
With AI at its core, a new blockchain that can dynamically alter/update the of blocks to create a self-evolving blockchain.
Matrix chain can solve linear smart contract problems
The Blockchain is used where the parties do not trust each other – thus decentralized, transparency, tamper proofing becomes core features of the blockchain. Ethrereum is one of superior applications of the Blockchain, however Smart Contracts can only address simple linear problems and cannot respond to more complicated contractual conditions, writing contracts always carries a Risk.
Matrix Chain is aiming to resolve this problem and increase the adoption of Blockchain technology across wider range of industries and groups.
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 the smart contract service easily accessible for everyone”
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