The most common problems facing smart contracts and decentralized applications
The revolutionary idea behind smart contracts and decentralized applications puts this technology in high priority and demand. However, these applications have been suffering from long-term inefficiencies like limited computational capacity together with a lack of widespread applicability in society as of yet. The Cortex platform aims to overcome these problems through the enablement of AI modeled Blockchain applications. Cortex was launched on its TestNet a few weeks ago and has now published a full series of tutorials on it TestNet.
An important feature that Cortex introduces is the Cerebro Block Explore, which gives users the ability to explore blocks and transactions while addressing the balances that can be found on the Cortex Blockchain. The Cortex platform also comes with a feature that will revolutionize the idea of exploring the capabilities of AI model interactions, data sets, with AI inferences outcomes that will be visible on-chain.
There are currently two AI models that are stored on-chain which may have been developed by the Cortex protocol or by a public developer, however, this can be seen using an AI smart contract on the Blockchain. This astonishing feature allows users to work with on-chain data and AI models that powers the smart contract. These development tools allows for groundbreaking technologies to be created like powerful DApps and advance democratization of AI and machine learning.
The TestNet currently holds 10 full nodes across 6 different countries, and the numbers are expected to increase exponentially over time in these coming months. The on-chain AI models that are testable by developers and the community have been uploaded to the network. In order to create new smart contracts and upload it to the TestNet, developers will have to make use of Remix, which is an AI smart contract development application that is compatible with Cortex. These are publicly accessible mining pools that users will be able to connect to in order to participate in mining operations that are underway.
The combination of AI and Blockchain will bring massive efficiency to the global economy
According to a post on Medium, there are a number of important updates that have been completed to the Cortex consensus mechanism, its data storage, and compression protocols along with instructions for hosting nodes.
The cortex project along with its different related parts are aiming to facilitate the creation, approval, and deployment of any AI and inference model on the Blockchain. This is done by enabling users to edit the smart contracts to interact with the Cortex Blockchain while learning how to create AI inference models. What the Cortex project is looking forward to is to encourage developers of AI and DApps to learn how the system works in order to augment Cortex’s existing AI models and smart contracts by adding their own knowledge and tackle real-life problems in industries that need it.
According to a report from the Cortex Team:
“The TestNet release is huge because we believe in Blockchain and decentralized systems; our long-term goal is to democratize artificial intelligence, and the first version of the TestNet demonstrates the actual workings of the world’s very first on-chain AI models. We’ve proven that the fundamental engineering approach described in our whitepaper works.”
The Cortex team has encouraged the tech community to learn more about Cortex and to participate towards its goals because of the expansiveness of AI and the Blockchain technology. The team further stated that:
“For our users, we can start inviting developers to get to know more about us, write AI smart contracts, post AI models with us, grow and learn together, and build a democratic AI ecosystems together.”
The Blockchain technology has been thriving and developing for ten years now and we have witnessed its potential to change lives and the financial system as a whole. The synergy that exist between AI and Blockchain offers many innovative benefits to society.
Blockchain can provide any data that is needed in order for AI to grow and thrive like security, privacy, and transparency in order to make different systems work together. Long and complex supply chains can result in high inefficiency and with the integration of Blockchain, these can be dramatically changed to a better bottom line.
AI will ease any high mining costs that the Blockchain suffers from by automating and allocating mining resources to lower cost available on an ongoing basis.
What do you think about these developments being done in the Blockchain tech space? Please feel free to leave your comments down below.