Cortex (CTXC) – Everything You Need to Know
What is Cortex?
Cortex is a public blockchain with integrated Artifical Intelligence algorithms which are able to support smart contracts. This makes it possible for developers to add AI to their smart contracts. Cortex aims to build a decentralized machine-learning platform which merges AI with smart contracts and provides an environment for AI-DApps.
A submission interface for AI-training will be provided off-chain and Cortex has its own virtual machine which is called Cortex Virtual Machine (CVM), and the VM is fully compatible with Ethereums VM.
Also, there is a storage layer where machine-learning researchers can upload their models and developers who need these models can use them in exchange for payment to the creator.
The goal is a fusion of Artifical Intelligence and smart contracts in a self-learning and intelligent environment. The native asset of the Cortex ecosystem is called CTXC which used by users to pay providers of machine-learning models if they are used. Users have the possibility to use existing models or to set up a specific task which is then tried to be solved by AI-developers.
The difference between regular smart contracts and Cortex smart contracts is that Cortex smart contracts can contain inference instructions (instructions for a conclusion), this opens new possibilities for smart contracts and decentralized applications.
CTXC is currently an ERC20-placeholder token and will be burned and swapped on a 1:1 ratio to Cortex Coins when the mainnet is launched. The issuance of Cortex Coins will be halved every four years, like the supply of BTC.
The team is well respected and has great experience in the AI- and information technology world. It is led by CEO Ziqi Chen, who has multiple M.S. and is very experienced in machine-learning. Weiyang Wang serves as CTO, he has an M.S. in Statistics and is experienced with FinTech.
The whole team, which is based in Singapore, comes from a scientific background and seems top-level. An ICO was held from in February 2018 where 34,870,400 USD was collected.
The price of one CTXC was 0.58 USD. 50% of the total token supply was on sale. Early investors were Bitmain, FBG Capital, Huobi Capital and Blockwater Capital, among others.
Can Cortex be mined?
Yes, Cortex is based on Proof-of-Work. The mining algorithm is Cuckoo Cycle PoW. This could make transaction validation with mobile devices possible in the future.
What differs Cortex from other Cryptocurrencies?
The unique feature of Cortex is the combination of Artificial Intelligence and smart contracts. The end goal is the creation of an intelligent self-learning platform where decentralized applications of all kinds can run. The addition of inference instructions to smart contracts opens a whole world of new possibilities and really exploits the whole potential of smart contracts.
How much is Cortex worth today?
What is the total and the circulating supply?
The total supply of CTXC is 299,792,458 and the circulating supply at the time of writing is 149,792,458 CTXC.
Where can you buy CTXC?
You can buy CTXC on several cryptocurrency exchanges, most notably Huobi and OKEx.
Can CTXC be sold for cash?
The Cortex team is working hard on launching the mainnet, which is planned for Q2 2019. Mining testnet and AI testnet are scheduled for Q3 of this year.This project is at a very early stage but there is already a Proof-of-Concept (PoC) online, and the whitepaper is very detailed and scientifically written. Overall development is very active.
Verdict and Rating
8/10 Hugely interesting project. The concept of adding interference instructions to smart contracts is a gamechanger and opens numerous new possibilities.
This harnesses the full power of Turing-complete virtual machines. I am very excited to see how this project turns out. Cortex makes smart contracts that adapt to changing variables possible! You cannot underestimate this.
The only downside is the amount of storage space that AI-data is using; this could lead to blockchain bloat really fast. If we don’t find valid scalability solutions, I cannot see this project succeed.
But this project is worth the risk if we manage to scale blockchains I am sure that this project will be among the winners if not the sole winner in the AI-blockchain space. The team is top class. Top recommendation!
DisclaimerThe writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
What is Waltonchain? Waltonchain is a decentralized supply-chain management system that combines blockchain with IoT. ...
What is Nebulas? Nebulas provides a decentralized, blockchain based platform with a search framework for all blockchai...