Central to blockchain technology is the concept of mining. To oversimplify, mining is a process through which the legitimacy of a transaction can be verified. To accomplish this, many blockchains use a Proof of Work (PoW) consensus algorithm. While the innerworkings of PoW consensus algorithms are beyond the scope of this write-up; suffice to say that asymmetry is key. In other words, the complicated mathematical puzzle central to PoW must be sufficiently challenging; while the solution, once found, must be incredibly easy to prove and confirm.
Mining is a resource intensive task that increasingly demands specialized computer hardware that consumes vast quantities of largely wasted power. In fact, this wasted power is one of the major problems that the MATRIX AI Network attempts to solve by leveraging the latest artificial intelligence (AI) technology. MATRIX’s innovative consensus algorithm — a PoW/PoS hybrid dubbed HPoW — uses these vast computing resources to run Markov-Chain Monte Carlo (MCMC) algorithms. These have valuable real-world applications and are currently being used in collaborations with research hospitals to improve the speed and accuracy of cancer diagnosis.
However, the form of mining is but one piece of the puzzle. In parallel to these efforts, MATRIX is also designing proprietary mining hardware. This write-up and the accompanying video aim to provide a glimpse into the progresses made by our research and development (R&D) teams.
MATRIX Research & Development Department team member, Mr. Yong Li, provides an update regarding the MATRIX Mining Machine.
What is specific to the MATRIX Mining Machine?
The MATRIX Mining Machine makes use of FPGAs (Field-Programmable Gate Arrays) to meet four targeted requirements. These are high computational power, low energy consumption, convenient mining and superior heat dissipation. One of the benefits of using FPGAs is that logic can be stored directly in the hardware.
The current MATRIX Mining Machine prototype sports four cores and can support the mining of up to four different currencies. Specifically, these currencies are MAN, BTC, ETH and Filecoin. In a lab setting, the MATRIX Mining Machine has exceeded a system throughput speed of 50k TPS.
Is the MATRIX Mining Machine required to mine MAN tokens?
The MATRIX Mining Machine is not required to mine MAN tokens. However, the MATRIX Mining Machine will be more efficient at mining than prefab custom setups. If mining using regular consumer-grade hardware, at least one core will need to be dedicated to mining activities. Specialized, dedicated hardware is an avenue worth exploring for dedicated miners.
When will the MATRIX Mining Machine be released?
The current plan is to publicly release the MATRIX Mining Machine prototype before the end of the calendar year. As a kind reminder, the MATRIX testnet is scheduled to launch at the end of September, 2018. The MATRIX mainnet is scheduled to launch by the end of the calendar year.
Will it be available to the public?
Yes. The MATRIX Mining Machine will be available to the public for purchase. Details on how to procure a MATRIX Mining Machine will be released later.
During the month of September, MATRIX AI Network is releasing a series of videos and write-ups highlighting some of the project’s technical features. These include the MATRIX Mining Machine, the MATRIX Auto-Coding Intelligent Contracts, the MATRIX Secure Virtual Machine and the MATRIX Digital Asset Safe.