Reimagining Decentralized Intelligence with Cortex
With a widespread integration of Blockchain technology, the decentralized application has become a common occurrence these days, initiating radical changes in every field. On the other hand, Artificial Intelligence (AI), which has become a prominent trend in the market, broadened its scope to include understanding human speech, autonomous cars, integrations into content delivery systems, as well as military applications. Cortex (CTXC), a top 100 market-cap currency, combines the potentials of the two giant technologies. By integrating AI into the decentralized blockchain, Cortex represents the next generation of the internet, leading the innovation in modern industries, from automotive to healthcare.
AI Integration into Blockchain and the Changing Face of the Internet
As a dynamic technology aiming to develop an alternate economy, the decentralized system has expanded its scope to integrate avant-garde technologies, and the integration of AI is one of the latest innovations in the virtual space. Led by CEO Ziqi Chen, a blockchain and machine learning expert, Cortex is rapidly gaining momentum for its revolutionary approaches. Simply put, this decentralized AI autonomous system aims for integrating built-in machine learning interface to the existing smart contracts, which has not been fully explored before.
While most of would agree that the blockchain has flourished at a rapid scale, it has many striking limitations. With the bigger currencies struggling to overcome challenges in the form of low efficiency, liquidity and the volatility of price, a groundbreaking project like Cortex can go a long way in mitigating the limitations by incorporating accurate and customizable machine learning algorithms. Being listed on nine renowned cryptocurrency exchanges, Cortex enters into an exciting phase, characterized by remarkable developments. Besides, the Cortex blockchain will soon be an independent network accommodating ERC20 token CTXC to investors.
The Challenges of Blockchain Technology
Despite the competitive advantages offered by top currencies like Bitcoin and Ethereum, they have their own set of limitations. For instance, Bitcoin, which can be used to purchase goods and services, run on proof of work algorithm and doesn’t accommodate smart contracts. While Ethereum specializes in smart contracts, it can execute small programs and the limited number of lines of code. Besides, Ethereum cannot adapt to the evolving information, which includes weather, financial news, and global trends, whereby it is incompetent when it comes to making well-informed and accurate decisions. Simply put, the smart contracts face two critical problems at the moment – besides the lack of ability to leverage information that cannot be integrated into the smart contract, the inefficiency of such contracts are some of the menacing issues of this leading blockchain network.
The Impact of Cortex on the Future of the Internet
The Cortex blockchain project is unique in terms of its approaches to decentralization. To mitigate some of the aforementioned limitations of the blockchain applications, Cortex will encourage people to write leading-edge AI and machine learning algorithms, offering the flexibility to deploy any forms of computational approaches for effective decision making. Unlike the traditional cryptocurrency project which allows people to write and execute smart contracts on the blockchain, Cortex would prompt users to leverage advance AI solutions to develop contracts that promote improved decision making.
The smart contract applications of Cortex can be explained with a simple example. In case of a traditional betting contract, one can expect a payout of a preset amount if the conditions are met. So, the traditional smart contracts are simple and straightforward, with the payout materializing in no time. With Cortex’s smart contracts, it is possible to incorporate predictive analysis into the contract. If someone wishes to bet on a team, he/she can select a side based on the venue, active players, weather conditions, betting odds, winning streak, and other essential factors.
Speaking of the advantageous features of this groundbreaking blockchain project, the following points can be mentioned:
- People willing to write smart contract can use smart predictive analysis-based smart contracts on Cortex blockchain and include it in their custom smart contract. Cortex will enable the two forms of contracts to run smoothly, provide a suitable consensus is achieved.
- Integrating a complex computational power into smart contracts is made simple, and once the code is written, the writer can make revisions to improve the features and functionality of the project at hand.
- Cortex enables users to develop machine-learning algorithms which are dependent upon other contracts.
- Cortex’s virtual machine is compatible with the Ethereum Virtual Machine.
- Cortex can train off-chain algorithms to build a bridge between computing power providers and algorithm providers, encouraging collaborations between participants in the Cortex ecosystem.
While blockchain has been rapidly gaining momentum, many AI-based firms have successfully integrated blockchain to improve their analytical functions. Supported by efficacious features like immutability and transparency, such integration anticipates making a tremendous difference in the field of technology and going by the prospects of this decentralized AI autonomous project, Cortex can be a game changer in its own right.
DISCLAIMER: Opinions expressed by Coinschedule Blog contributors are their own.