Cortex Mainnet Launches To Become The First Platform To Bring AI At Scale In The Blockchain dApps
Cortex logo (Source:Cortex.com)
The Cortex main net launched earlier on Wednesday this week bringing deep learning methods such as artificial intelligence and machine learning to the blockchain industry at scale for the first time ever. The network is expected to make the development of decentralized applications (dApps) more efficient using an AI-powered platform.
The development team at Cortex launched the Cortex Virtual Machine (CVM) after a long 15 months of development. The CVM executes the AI models developed on chain allowing for a wide range of application for the platform including dApp and AI development. The AI models developed are uploaded to the main net on the CVM and are then used to execute smart contracts created by the dApp developers.
The announcement of CVM further confirmed that the platform comes with 23 AI models trained by four data sets. Users such as machine learning professionals and researchers can monetize the AI models they upload on the platform by using the CTXC tokens as a form of payment for the models. Furthermore, the CVM platform offers backward compatibility with the Ethereum Virtual Machine (EVM) allowing the platform to run both the AI-powered smart contracts and the normal smart contracts.
Ziqi Chen, CEO of Cortex (Image: Shutterstock)
The developmental process of the CVM machine however presented a number of challenges to the team such as the computational demands needed to create the EVM compatible platform. However, Cortex CEO, Ziqi Chen is proud of the strides made by his team to see the platform through claiming this as a “breakthrough in the AI industry and adoption process of AI.” He believes in a bright future for the platform given the vast applications it offers developers. He was quoted saying,
“Although dApp developers will be among the first beneficiaries of the Cortex main net, this is only the beginning. In time, we expect to develop a diverse range of use cases, all delivered on-chain.”
The Future of Cortex Main Net Applications
The platform is yet to fully open its wings explained by Cortex’s plans to start using the CVM to improve the development of AI-powered dApps. The platform aims to improve the data collection for financial institutions serving the decentralized networks and place anti-fraud measures for cryptocurrency exchanges. However, with the participants increasing in the blockchain and AI space, other industries such as crypto lending facilities, P2P financing platforms, AI governance systems, gaming and e-sports industry will benefit from the platform.
Ziqi Chen explains the expansion of CVM to other industries saying,
“In the near future, we expect to see stable coins based on machine learning, decentralized decision making, malicious behavior detection, smart resource allocation, and much more. These are challenges that all intersect with crypto networks, where having trained AI models that are accessible on-chain will prove to be extremely valuable.”