Cortex (CTXC) - ICO Review, Rating and Details of Cortex ICO (Token Sale) - Rating: Not Rated

Cortex is the first ever blockchain technology that allows the execution of AI algorithms on the blockchain.

In Cortex, due to the nature of open source and competitive mechanisms, the best model as an intelligent agent will survive to enhance the intelligence level of the Blockchain network.

Cortex’s main mission is to provide the state-of-the-art machine-learning models on the blockchain in which users can infer using smart contracts on the Cortex blockchain. One of Cortex’s goals also includes implementing a machine-learning platform that allows users to post tasks on the platform, submit AI DApps (Artificial Intelligence Decentralized Applications).

Problems & Solutions

In the current blockchain world, the chain of built-in Turing Complete smart contracts is widely used, attracting a large number of application developers. However, due to the high cost of over-idealized World Computer concept, smart contracts limit their capabilities at design stage and do not fully exploit Turing Complete immense computational potential. As a result, developers are limited to write short programs and access only a very small amount of resources. While the proliferation of common smart contracts depends on the performance gains of new technologies, some extremely useful routines can be introduced ahead of time and can be applied with reasonable optimization and hardware support. Cortex is a new public blockchain. By revising and extending the instruction set, Cortex adds AI algorithms support for smart contracts so that anyone can add AI to their smart contracts. At the same time, Cortex has proposed an incentive mechanism for collective collaboration that allows anyone to submit and optimize models in Cortex, and the contributors to the models can be rewarded. Just as what’s happening in some areas, thanks to Cortex’s openness and sharing features, Cortex is set to create many models that transcend human capabilities. At the same time, as a social experiment, the team also looks forward to the Artificial General Intelligence (AGI) being born on the Cortex.

Features & Highlights

  • Smart AI Contract - Cortex allows users to write machine-learning programs on the blockchain and submit interactions that are dependent upon other contracts.

  • Cortex Virtual Machine - Cortex has its own Virtual Machine, called the Cortex Virtual Machine (CVM). The CVM instruction set is fully EVM compatible and has support for inference instructions.

  • Cortex Intelligent Inference Framework - Machine learning researchers around the world can upload well-trained corresponding data models to the storage layer. Other users who need this AI models can make inferences by using models and pay to their providers.

  • Model Submission Framework - Cortex also provides a submission interface for training off-chain, including the instruction-interpreting virtual machine for models. This will setup a bridge between computing power providers and algorithm providers for trading and collaboration.

  • Cortex Inference Consensus Criteria - When a user initiates a transaction to a contract, the full node needs to execute the code of the smart contract. The difference between Cortex and ordinary smart contracts is that intelligent contracts may involve inference instructions, and then all nodes need to agree on the result of this inferred result.

Token Allocation

"Cortex Coin Miners (Mining Reward)","Investors (Genesis Block)","Cortex Lab","Project Marking Lock","Challenge Bounty","Advisors/Academics/Community (Genesis Block) " {"name": "Cortex Coin Miners (Mining Reward)","value": 50.03},{"name": "Investors (Genesis Block)","value": 20.01},{"name": "Cortex Lab","value": 15.01},{"name": "Project Marking Lock","value": 9.01},{"name": "Challenge Bounty","value": 0.93},{"name": "Advisors/Academics/Community (Genesis Block) ","value": 5}

Token Utility & Use Cases

  • Rewards for Model Provider - In contrast to the traditional blockchain, in which the reward for each packaging block is paid directly to the miners, to motivate developers to submit richer and better models, Endorphins invoking the contract, are not only allocated to miners who help package the block on full node, but also used to pay the model providers. The proportion of fees charged will be determined by the market gaming price, similar to the Ethereum Gas mechanism. AI smart contracts having higher max Endorphins price have higher priority to be executed. A single execution of a contract will cause a fee of Endorphins Limit * max Endorphins Price.

  • Cost for Model Provider - To prevent overwhelming model committers from submitting and storing attacks - such as arbitrarily submitting almost unusable models or submitting the same model frequently to consume storage resources - each model submitter must pay for storage. More calls to use the model, more revenue the providers can earn, thereby encouraging the model provider to submit better models.

  • Model Complexity and Endorphin Spend - Endorphin is a measurement of the amount of computing resources spent on a hardware level within a virtual machine when bringing a data model into a contract during inference. Generally speaking, the cost of Endorphin is proportional to the size of the model. Cortex also sets an upper bound of 8GB on the parameter size of the model, corresponding to up to about 2 billion Float32 parameters.

Roadmap & Updates

  • 2018 Q1
    • Issue ERC20 token
    • Listed on multiple mainstream exchanges
  • 2018 Q3
    • Testnet for mining, namely Bernard
  • 2019 Q1
    • Testnet for smart AI contracts, namely Dolores
  • 2019 Q2
    • Mainchain, namely Arnold genesis block. Burn ERC20 Coin to start mining the Cortex Coin, covertible on a 1:1 ratio

Team Members

  • Ziqi Chen, CEO. Linkedin.
    • M.S. University of California, Santa Cruz, Machine Learning.
    • M.S. Carnegie Mellon University, Civil Engineering.
    • B.E. Tsinghua University, Civil Engineering.
    • Co-founder of Waterhole.io.
  • Jia Tian, CTO & Chief-Scientist. Linkedin.
    • Investor of Bitfinex.
    • LP of Bitfund.
    • Venture Partner of Zhenfund.
  • Jason Nguyen, Tech VP of Blockchain.
    • Univ. of California, San Diego in Bio., Business and Finance Management.
    • Grew up in Southern California. Jason did Bitcoin trades and ATM business from 2013.
    • KYC and AML officer. Anti-fraud expert.
    • Bitcoin and blockchain conference, PR and legal communications with lawyers.
  • Yang Yang, Blockchain Chief Engineer. Linkedin.
    • M.S. Tsinghua University, Computer Science.
    • B.E. Dalian University of Technology, Computer Science.
    • Waterhole IM backend architect.
    • Co-founder of Waterhole.io.
  • Wentao Tian, Senior AI & Blockchain Engineer. Linkedin.
    • M.S. CUHK, Computer Science.
    • B.S. Xiamen University, Computer Science.
    • ACM Gold in China & Asia.
    • Quantitative Trading Algorithms.
    • Reinforcement Learning Expert.
    • Distributed System.
  • Amy Chen, COO. Linkedin.
    • M.S. Columbia University, Electrical Engineering.
    • B.S. Queen's University, Electrical Engineering.
    • B.A. Queens's University, Economics.
    • Organizer of Low Carbon Blockchain Forum - EcoMobility World Festival 2017.
  • Yongze Wang, Operating Business Developer. Linkedin.
    • Dalian Minzu University.
    • Technology Enthusiasts.
    • Worked at Bitauto (NYSE: BITA), responsible for content planning and marketing.
    • Implemented multi-channel online marketing and marketing programs for BMW, Mercedes-Benz, and Ford.
  • Oscar Wei, Operation Specialist & Junior Programmer. Linkedin.
    • MLA Harvard University, Management Information Systems.
    • B.S. University of Wisconsin-Madison, Economics.
    • Web Developer.
    • Google Analytics IQ / Google Adwords Certified.
  • Liqing Wang, Operation Specialist & Junior Programmer. Linkedin.
    • B.S. Massey University, New Zealand.
    • DipSc&Tech, Massey University, New Zealand.
  • Longtao Wang, Blockchain Engineer. Linkedin.
    • B.E. Tsinghua University, Computer Science and Technology.
    • CMO Bronze Medal in China.
  • Zhen Li, Blockchain Engineer. Linkedin.
    • M.Phil. Hong Kong University of Science and Technology, Computer Science and Engineer.
    • B.E. Tsinghua University, Computer Science.
    • AI, Blockchain, and Visualization.
    • National Olympiad in Informatics Winner.
  • Kairu Li, Deep Learning Engineer. Linkedin.
    • M.S. Tsinghua University, Computer Science and Technology.
    • B.E. HuaZhong University of Science and Technology, Electrical and Electronic Engineering.
  • Yongyu Wu, Machine Learning Engineer. Linkedin.
    • M.S. Tsinghua University, Computer Science and Technology.
    • B.E. Tsinghua University, Computer Science and Technology.
  • Sheng Qi, Art Designer. Linkedin.
    • Beijing Institute Of Fashion Technology.
    • School of Fashion Art Design and Engineering.
    • Senior Fashion Desginer.
    • Graphic & Visual Designer.
  • Xi Shen, Korean Operation Specialist. Linkedin.
    • B.A. Capital Normal University, Art and Design, and New Media Design.
    • M.A. Special Effects Directing, Korea Central University.
    • Director of Media Operations, Beijing Qingteng Culture Co., Ltd. 2017-18.
    • VFX Special Effects Assistant Director for Jackie Chan’s movie "The Blood of the Machine" 2016-17.
    • Documentary Director for CCTV-10 “People” and CCTV-12 “First Line” column 2011-12.
  • Paully, Spanish Operation Specialist. Linkedin.
    • B.A. University of Lleida (Universitat de Lleida), English Studies.
    • T.D. E. D’Hoteleria i Turisme de Lleida, Marketing Information.
    • National Chung Hsing University, Chinese Language.
    • Co-Founder of DaFish International Ltd. (HK-PRC).
  • Mekhri Aliev, Russian Operations Specialist. Linkedin.
    • M.S. in Management Science and Engineering (Major: Industrial Engineering), Tsinghua University.
    • B.S. in Economics and Management, Grenoble Alpes University.
    • B.S. in Economics (Major: International Monetary and Financial Relations)Financial University under the Government of Russian Federation.
    • Manager of Business Development, TealDANCE 2018-2019.
  • Inga Nikolaeva, Russian Operation Specialist. Linkedin.
    • Tsinghua University, M.S. in Management Science and Engineering, Major: Industrial Engineering.
    • Grenoble Alpes University, B.S. in Economics and Management.
    • Financial University under the Government of the Russian Federation, B.S. in Economics, Major: International Monetary and Financial Relations.
    • Digital Marketing Specialist in Paper Planes Consulting Agency, 2016-2017.
  • Kaihuo Zhang, Software Engineering. Linkedin.
    • M.S. Xidian University, Computer Science.
    • B.E. Fujian Normal University Faculty of Software, Software Engineering.
  • Yu Xiong, Blockchain Engineer. Linkedin.
    • B.S. Beijing University of Posts and Telecommunications, Computer Science and Technology.
  • Jie Zhang, Deep Learning Algorithm & Image/Audio Processing Expert.
    • Ph.D. Xidian University, Signal & Information Processing.
    • HKUST, Research Associate.
    • Worked at Fujitus R&D Center China, Chinese.
    • Academy of Sciences, NXP Semiconductor.
  • Prof. Whitfield Diffie, Academic Advisor.
    • Inventor of public key cryptography ( Diffie-Hellman ).
    • 2015 Turing Award winner.
  • Vincent Zhou, Strategic Advisor. Founder of FBG Capital.
  • Kris Singh, Strategic Advisor.
    • President & CEO of SRII: Innovating Digital Economy for a Better world.
    • Visiting Professor at Tsinghua University.
  • Heting Shen, Business Advisor. Retired CEO and Chairman of China Metallurgical Group Corporation (601618.SH) and(01618.HK).

Partnership Overview

  • Tsinghua University - Tsinghua is one of the most prestigious universities in China. Through teaching, research and innovation, Tsinghua is committed to the advancement and well-being of the nation and the world.

  • Shanghai Jiao Tong University - Shanghai Jiao Tong University (SJTU), as one of the higher education institutions which enjoy a long history and a world-renowned reputation in China, is a key university directly under the administration of the Ministry of Education (MOE) of the People's Republic of China and co-constructed by MOE and Shanghai Municipal Government. Through some 120 years' unremitting efforts, SJTU has become a comprehensive, research-oriented, and internationalized top university in China.

  • University of California - The University of California opened its doors in 1869 with just 10 faculty members and 38 students. Today, the UC system includes more than 280,000 students and more than 227,000 faculty and staff, with 2.0 million alumni living and working around the world.

  • FBG Capital - FBG Capital is a digital asset management firm in blockchain-based capital market.

  • Nirvana Capital - Nirvana Capital is a San Francisco/Beijing based venture fund that focuses on blockchain/fintech investment and incubation of edging technologies and economic experiments. Its founding partners are also early supporters of Ethereum. To bring together ecosystems that revolutionize the social productions and labor relations with the communities underneath, Nirvana Capital provides end-to-end strong support to its portfolio projects, including advisory on strategies/operations and resources matching.

  • Node Capital - Node Capital is a venture capital company focusing on blockchain industry. It is also one of the world’s earliest professional investment institutions of blockchain industry layouts. Node Capital aims to connection every node of blockchain industry by project investment and cooperation, thus building industry ecosystem, and promote healthy and stable development of blockchain industry. So far, Node Capital has invested many projects of blockchain industry, such as news information, digital asset transactions, storage, technology development and application. Including enterprises such as Huobi, Coldlar, Bocheninc, fengwo, Jinse Finance , Lianshang Technology, Yulian, Qukuai Leida.

  • LinkVC - LinkVC committed to serving outstanding companies and developers in the field of blockchain with global commercial resources and professional financial services.

  • ZhenFund - ZhenFund (Chinese: 真格基金) is a seed stage focused venture fund with over $1 billion under management since founded in 2011 by Bob Xu and Victor Wang, in collaboration with Sequoia Capital China. Bob and Victor previously co-founded New Oriental (NYSE: EDU), one of the world's largest education conglomerates. Three of Bob's seed investments have IPOed in NYC: Shiji Jiayuan (Nasdaq: DATE) (世纪佳缘, website), LightInTheBox (Nasdaq: LITB) (website), and Jumei (NYSE: JMEI) (聚美, website). Bob was named to the Midas List four years in a row (2016-2019) and was last ranked at #11.

Social Media Links

Twitter Updates

  • RT @amoeba931: I just published AI & Blockchains — Projecting the Potential of AI-Enabled dApps https://t.co/9eGs0W2boH
  • Check out this new article written by Cortex COO Amy Chen on the potentials of AI Dapps! 🔥 https://t.co/vmRFhyUCB1
  • “Amongst the happy news of the Chinese gov official endorsement of blockchain 🌇, the Cortex community also had two… https://t.co/T0Ob9Ms2Iy
  • Showing folks at San Francisco Blockchain Week @SFBWofficial how to use Cortex wallet. $CTXC #SFBW19 https://t.co/f4x0oSOOZ5
  • Explaining the concepts of #AIOnBlockchain to folks at #SFBW19 via playing the MainNet version of Digital Clash. Sh… https://t.co/z7Ckk0ZkNV
  • Cortex Labs and China Merchants Expressway (001965: Shenzhen) signed a strategic project outline (contract) to appl… https://t.co/0tGkt3JlXb
  • It’s happening! Cortex CEO Ziqi Chen, COO Amy Chen and Global Operations Specialist Oscar Wei are at San Francisco… https://t.co/jSiJgcbHyh
  • Cortex CTO Jia Tian @1vn is at the Nature conference for Neuromorphic Computing in Beijing! @nature @NatureConf… https://t.co/fgHKje2I2s
  • “The Cortex community had two highly productive weeks 💪. Highlights include the launch of the first AI DApp ever, D… https://t.co/GnPdsJtGnV
  • RT @Cryptonomist_en: Digital Clash, is available for browsers with the #Cortex wallet. https://t.co/QLZjPQJW6t

Medium Updates