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Cortex Network Launches Mainnet to Democratize Deep Learning and AI

June 26, 2019

SINGAPORE--(BUSINESS WIRE)--Jun 26, 2019--

Decentralized AI world computer, Cortex has announced the successful launch of its technology platform. The network, designed for AI-powered dApps, brings deep learning models as artificial intelligence support to the blockchain ecosystem. The Cortex mainnet, which launched on June 26th following 15 months of intense development, marks the first time that AI has been introduced to a crypto network at scale.

The Cortex team has overcome a number of technical challenges to create, in the Cortex Virtual Machine (CVM), the means for AI models to be executed on-chain using a Graphics Processing Unit (GPU). This opens the door to a myriad of applications, including dApp and AI development. Trained AI models can be uploaded onto the storage layer of the Cortex chain before being incorporated into smart contracts by dApp developers.

“On-chain machine learning is an extremely complex endeavor due to the computational demands, and the need to create a virtual machine that is Ethereum Virtual Machine compatible. With the Cortex Virtual Machine, we’ve achieved a breakthrough that brings the benefits of artificial intelligence to a wider audience. Although dApp developers will be among the first beneficiaries of the Cortex mainnet, this is only the beginning. In time, we expect to develop a diverse range of use cases, all delivered on-chain,” said Cortex CEO Ziqi Chen.

These use cases will include generating credit reports for the burgeoning DeFi industry, and facilitating anti-fraud reporting for decentralized exchanges, P2P financing platforms, insurance, and cryptocurrency lending. Other potential applications include gaming, esports, and AI governance structures.

Explaining the rationale behind this latter concept, Ziqi Chen explains: “In the near future, we expect to see stablecoins 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.”

Cortex provides a mechanism for machine learning researchers to upload data models to the storage layer and monetize them with entities in need of AI models which are able to make inferences after arranging payment using CTXC tokens. The Cortex mainnet has launched with 23 AI models available, trained with four datasets. The CVM is backward-compatible with the EVM, and capable of running traditional smart contracts as well as AI smart contracts.

A detailed roadmap includes plans for the Cortex Foundation to work with dApp developers to implement AI dApps on the Cortex chain and plans to broaden cross-chain support to bring on-chain machine learning to networks beyond Ethereum. The Cortex team also intends to collaborate with academia and industry for research partnerships, and with publications to help further understanding of neural networks and their integration into the emerging field of blockchain.

To learn more visit: https://www.cortexlabs.ai/

View source version on businesswire.com:https://www.businesswire.com/news/home/20190626005421/en/

CONTACT: Joseph Hunt

joseph@blockpr.io

KEYWORD: ASIA PACIFIC SINGAPORE

INDUSTRY KEYWORD: SOFTWARE NETWORKS FINANCE DATA MANAGEMENT TECHNOLOGY PROFESSIONAL SERVICES

SOURCE: Cortex Labs PTE. LTD.

Copyright Business Wire 2019.

PUB: 06/26/2019 08:22 AM/DISC: 06/26/2019 08:22 AM

http://www.businesswire.com/news/home/20190626005421/en