At the moment, blockchain technology is on the spotlight. It is often touted as a world-changing innovation. Various media praise and criticise it. Many of crypto field enthusiast, investors and influencers are telling us that blockchain technology mass adoption is around the corner and most of our daily encounters will be based on or supported by this revolutionary technology.

When we start to think critically, dig deeper, gather information and dive into in depth understanding of various blockchain projects and how they work, we can see that many of today’s blockchain projects face many challenges and problems which needs to be solved, before even thinking that blockchain is going to be used by masses as a trustworthy option. Most of the major problems that blockchain projects face are security vulnerabilities, programming barriers, user friendliness, no real world applications, wasteful energy resources, lack of speed and decentralisation.

You might be thinking how Matrix AI Network is capable of fixing these above described issues. Below, we will get to the details and present you with the way how innovative and artificial intelligent based blockchain MATRIX is dealing with one of the most important issue, which makes blockchain inconvenient for developers — smart contracts programming barriers.

Programming Barriers

Matrix states that, front and centre are the programming barriers erected by the unnecessarily convoluted first-generation smart contracts introduced by the Ethereum network. While the entire blockchain industry should be thankful to Ethereum for popularising the concept, Ethereum smart contracts are, quite simply, not smart enough. So what the blockchain world has introduced is creating smart contracts that require programmers. This means it introduced higher costs, higher error rates and less resource availability. For sure mainstream adoption blockchains will need to appeal to the broader market and not have any additional technical hurdles to the current process, it has to be better than today’s solution. Matrix makes it better.

MATRIX’s approach is to use the natural language to automatically convert this user intent into smart contract code.

To address the unnecessary and damaging programming barriers plaguing the development of DApps and, ultimately, the adoption of blockchain solutions, the MATRIX AI Network is designing proprietary Intelligent Contracts that leverage natural language programming and adaptive deep learning-based templates to auto-code. Currently, English and Chinese are supported. In the future, support for other languages will be added according to popular demand. MATRIX’s auto-coding Intelligent Contracts is using innovative MATRIX Semantic Analysis Engine. It handles the automatic generation of Intelligent Contract code. According to Matrix, existing smart contracts (e.g. Ethereum’s contracts) are essentially just collections of static code that run on blockchain networks. MATRIX’s auto-coding Intelligent Contracts, on the other hand, are incredibly easy to use. The user simply types or speaks the features that they want to include. Then, the Intelligent Contract automatically handles the coding.

The MATRIX AI Network team has designed this engine by conducting extensive semantic analysis of countless open source smart contracts to develop a proprietary deep learning model. This deep learning model allows the MATRIX Semantic Analysis Engine to perform semantic analysis on Intelligent Contracts. First, an abstract semantic analysis is conducted to generate a control-flow graph. Then, semantic features are extracted from the control-flow graph and are used to continuously train MATRIX’s deep learning model to identify specific patterns and parameters, as well as to identify and define clusters of semantic features. By doing so, the MATRIX AI Network’s Intelligent Contracts are able support multiple high-level functions. The MATRIX Semantic Analysis Engine prototype already supports customized, high-level token functions relating to transfers, airdrops, mining, burning and more. Other functions relating to ownership and management rights, account freeze-and-suspend functions and more are also currently supported.

Everyone who would like to see how these Intelligent Smart Contracts are working, check the video here.

The world’s population is 7 billion and the total number of worldwide developers is around 20 million and the total number of Etherium developers is approximately 20 thousand. Given that blockchain are the next big thing in technology that means in the future there will be a shortage of developers who can build these smart contracts. By using intelligent smart contracts that require no programming, Matrix will be able to achieve 350 times greater market size than other blockchains. This increased adoption will lead to more usage and this usage will lead to a network effect which will build upon itself, thus creating much more widely used ecosystem.

Resources:

https://www.matrix.io — Official Matrix AI Network website

https://medium.com/@matrixainetwork/the-matrix-semantic-analysis-engine-introducing-intelligent-contracts-7b2bb588f77 — Detailed article on Matrix’s Semantic Analysis Engine