According to a press release, the AI-run mainnet, which already has 23 available AI models, is expected to be utilized for an array of purposes such as generating credit reports for the decentralized finance industry, as well as facilitating anti-fraud reporting for decentralized exchanges, peer-to-peer financing platforms, insurance, and cryptocurrency lending.
Cortex also intends the mainnet to be useful for gaming, e-sports, AI governance structures, insurance, transportation, and anti-fake AI projects.
“On-chain machine learning is an extremely complex endeavor due to the computational demands, and the need to create a virtual machine that is Ethereum Virtual Machine compatible,” Cortex CEO Ziqi Chen said, “With the Cortex Virtual Machine, we’ve achieved a breakthrough that brings the benefits of artificial intelligence to a wider audience.”
Chen noted that DApp developers will be the first to experience the Cortex mainnet.
He added that Cortex expects to see machine learning-based stablecoins, decentralized decision making, malicious behavior detection, and smart source allocation, among other things, in the near future.
The Singaporean firm plans to coordinate with DApp developers in implementing AI DApps on the Cortex chain, as well as extend cross-chain support to promote on-chain machine learning to networks beyond Ethereum.
Lastly, Cortex will work to team up with academia and industry for research projects, as well as coordinate with publications to spread information about neural networks and their integration into blockchain.