Cortex price

Cortex (CTXC) aims to bridge the gap between blockchain technology and artificial intelligence (AI) by allowing developers to work with on-chain machine learning (ML) models. Compatible with the Ethereum Virtual Machine (EVM), Cortex empowers smart contracts to harness the capabilities of AI, making them more adaptable to real-world data and signals without relying on off-chain oracles. 

What is Cortex

Cortex offers a groundbreaking solution for developing and running AI-powered decentralized applications (dApps). Although AI innovation is advancing rapidly, concerns about centralization persist. Cortex addresses this by bringing ML and AI models to the blockchain, providing developers with easier access and integration with smart contracts. By doing so, Cortex aims to democratize AI, making valuable data more accessible, reliable, and transparent.

Cortex has recently integrated ZkMatrix, a Layer 2 scaling solution powered by zero-knowledge proofs (ZK-proofs). This integration is expected to significantly increase Cortex's transactions per second (TPS) and reduce network fees, further enhancing the platform's efficiency and usability.

The Cortex team

Cortex Labs is the driving force behind Cortex, the first and only public chain to support on-chain execution of AI models.

The ecosystem is led by a team of experienced professionals, with Ziqi Chen being the co-founder and acting CEO. The team also includes Jia Tian as the CTO, Amy Chen as the COO, and Yang Yang as the Chief Blockchain Engineer.

How does Cortex work

Cortex is a decentralized platform that offers seamless integration of machine learning (ML) models within its ecosystem. Once uploaded, ML models can be freely utilized, benefiting from the immutability of the blockchain, which ensures the integrity and reliability of the models. The platform employs the Cortex Virtual Machine (CVM), which facilitates the execution of AI-powered smart contracts.

To facilitate the usage of AI models, Cortex provides a storage layer where developers can securely store their models. These models can then be called by smart contracts as needed.

Developers are responsible for creating, training, or acquiring AI models for on-chain usage. Once the models are prepared, they need to be made compatible with Cortex and uploaded onto the chain. Developers can then create various smart contract-powered dApps and integrate specific AI capabilities. This can include features such as identifying contract breaches or non-compliance.

The Cortex blockchain employs the Proof of Work (PoW) consensus mechanism, with Endorphin serving as a full node and the mining client. 

Cortex’s native token: CTXC

CTXC, the native token of the Cortex ecosystem, serves multiple purposes within the network. Firstly, it is utilized as a means of payment for accessing the network's bandwidth and resources. Users pay CTXC tokens to developers or model owners in exchange for utilizing their AI models in smart contracts or dApps. Moreover, CTXC tokens are used to incentivize and reward miners who contribute to the security and operation of the Cortex network, ensuring its robustness and integrity. By serving these purposes, CTXC fosters the efficient functioning and growth of the Cortex ecosystem.

CTXC tokenomics 

CTXC has a fixed supply of nearly 300 million tokens. The tokens are distributed to various stakeholders in the ecosystem, including dApp developers, AI model developers, users, miners, and the team members who contribute to the project's development and growth.

The road ahead for Cortex

Cortex is dedicated to enhancing model and data privacy, making strides to facilitate transparent and secure AI and ML integrations within its ecosystem. The platform's primary goal is to establish a strong infrastructure that enables seamless integration of AI and ML technologies while maintaining a strong focus on data privacy and security.

In addition, Cortex actively seeks collaborations with various platforms. A notable example is their partnership with Thalamus, where Cortex powers the NFT gallery. Such collaborations exemplify Cortex's commitment to staying at the forefront of the industry, solidifying their position as a leading player in the space.