# Matrix AI Network: A Blockchain-Based AI Economy
Matrix AI Network is a project that aims to create a blockchain-based AI economy, where data, computer power, and AI models are the foundation of value creation. Matrix AI Network leverages the power of artificial intelligence to optimize the performance, security, and usability of its blockchain platform, as well as to provide various on-chain AI services and applications.
## Matrix 1.0: The First AI-Optimised Blockchain Platform
Matrix AI Network was founded in 2017 with the vision of building the first AI-optimised blockchain platform. The project identified four key challenges in the existing blockchain technology: low transaction speeds, lack of security, complexity of usage, and squandered resources. To address these challenges, Matrix AI Network introduced several innovative features, such as:
- **Multi-node in-memory matching engine**: This feature allows Matrix AI Network to achieve fast and efficient order matching, comparable to centralized exchanges².
- **AI-powered security**: Matrix AI Network uses AI to detect and prevent malicious attacks, such as double-spending, Sybil attacks, and DDoS attacks².
- **Natural language smart contracts**: Matrix AI Network allows users to create smart contracts using natural language, such as English or Chinese, instead of complex programming languages².
- **Dynamic delegation network**: Matrix AI Network uses a hybrid consensus mechanism that combines proof-of-work (PoW) and proof-of-stake (PoS) to ensure decentralization and efficiency. Users can delegate their mining or staking power to other nodes without losing control of their tokens.
