Cortex (CTXC) news

What is Cortex (CTXC)?

The Cortex platform is a decentralized, open-source platform based on Ethereum that allows for the execution and uploading of artificial intelligence models over a distributed network. Its goal is to enable easy integration of AI models into smart contracts and decentralized applications, thereby democratizing AI. Smart contracts, which are like regular contracts but run as protocols on blockchain instead of on paper, are a key feature of the Cortex platform.

Who are the Founders of Cortex (CTXC)?

The Cortex project was founded by Ziqi Chen and Jia Tian, who both have impressive backgrounds in technology. Chen, who is currently the principal research scientist at SFTC, has developed a variety of groundbreaking technologies. Tian, on the other hand, has worked as an architect for large recommender systems at both Baidu and Alibaba.

How does Cortex (CTXC) Work?

Before Cortex came along, there was no efficient and deterministic way to facilitate on-chain machine learning models. This resulted in DApps, including machine learning models, using off-chain inferences, which defeated the purpose of smart contracts. However, Cortex resolved this problem with the Cortex Virtual Machine (CVM), which utilizes the GPU instead of the CPU. The CVM allows for efficient machine learning on the Cortex blockchain, which enables machine learning models to be integrated into smart contracts and decentralized applications. To create AI-enhanced DApps and smart contracts, developers use the popular language Solidity and off-the-shelf AI models.

Cortex has introduced a mechanism that incentivizes AI developers to store models on the blockchain. This means that blockchain developers have access to the best AI models available worldwide and can choose from them. Competition between AI model providers naturally leads to better and better AI models within the ecosystem.

According to the whitepaper, Cortex's ultimate goal is to become a better token supporting all AI models. To achieve this, Cortex 2.0 seeks to deliver a more comprehensive core technical architecture for on-chain AI integration in smart contracts and improved security and performance for the Cortex chain. The Cortex 2.0 implementation also emphasizes the accuracy and privacy of on-chain AI inference results by implementing formal verification, trusted execution environments, and more.

What is the CTXC Token?

When you make a transaction or execute a smart contract on the Cortex project, you'll need to use the CTXC token as a fee. Similar to Ethereum's gas, these fees are paid to miners and used to compensate AI/ML model providers. The cost of these fees is determined by the Endorphins Limit multiplied by the maximum Endorphins Price. Generally, the cost of Endorphins is proportional to the size of the model being used. This creates a system where smart contract developers can pay and support AI developers, while AI developers are motivated to create better and better models. The result is a decentralized AI ecosystem that encourages developers to share their models.