Is Cortex Coin (CTXC) Token a Scam or Legit?

 

 

What is Cortex (CTXC) Coin: A Comprehensive Overview

 

Cortex (CTXC) is a blockchain platform that aims to revolutionize the artificial intelligence (AI) industry by providing a decentralized infrastructure for AI algorithms and dApps. This platform offers a unique opportunity for AI developers to upload their models onto the blockchain and incorporate them into smart contracts. The goal of Cortex is to create an ecosystem that leads to the evolution of better and better AI models by incentivizing AI developers to share their models. In this article, we will delve into the details of Cortex and explore whether it is a scam or a legitimate platform.

 

What is Cortex (CTXC)?

 

Cortex is a public blockchain infrastructure that supports the execution of AI algorithms and AI-powered dApps. It uses the Proof-of-Work (PoW) network consensus to verify every step of the machine-learning inference. The key technology of the Cortex blockchain is the Cortex Virtual Machine (CVM), which is ported from the Ethereum Virtual Machine (EVM) and is backward-compatible with the EVM with added layers for AI inference. The CVM has two crucial components - infer instructions and the deterministic inference engine (Synapse). The infer instructions allow models to be called in smart contracts through instruction sets, while Synapse guarantees exactly the same result of an AI model in different computing environments and thus making network consensus on AI program executions possible.

 

The CTXC token is used as a fee for transactions and smart-contract executions. When a transaction is invoked, Endorphins fees (similar to Ethereum’s Gas fee) are not only allocated to miners who help package the block on the full node but also used to pay the AI model providers. The cost of the Endorphin is proportional to the size of the model, so smart contract developers pay and sustain AI developers, while AI developers are incentivized to provide more quality AI models to smart contract developers.

 

Economics and Supply

 

Cortex raised funds through a private sale in February 2018, where 60 million CTXC tokens were sold for approximately $0.53 per token. The private sale raised a total of 40,000 ETH, selling 20.01% of the total token supply. The mining reward halves every 4 years, similar to the halving schedule of Bitcoin, and the total mining reward is 150 million CTXC, yielding a total cap of 299,792,458 CTXC. The mining process of CTXC will take place over 20 years.

 

Community Development Strategies

 

Cortex is focused on building its community across several geographies, including Mainland China, Taiwan, South Korea, Thailand, Singapore, Russia, Canada, the USA, and Latin America. The platform's current community development strategies include publishing articles that explain AI and blockchain for the general public, attending and hosting workshops, meetups, conferences, and hackathons to engage with developers and investors, and hosting bi-weekly technical/community updates.

 

Cortex's future community development strategies include hosting online and offline development workshops, developer bounty programs, building open model libraries and datasets, and collaborating with academia for research partnerships and publications.

 

Conclusion

 

Cortex is a unique platform that aims to revolutionize the AI industry by providing a decentralized infrastructure for AI algorithms and dApps. The platform's key technology, the Cortex Virtual Machine, is a crucial component that allows for the execution of AI algorithms and AI-powered dApps. The platform's focus on community building and its strategies for future development are positive indicators of its potential for growth and success.

 

However, it's always essential to conduct thorough research and seek professional advice before investing in any platform or cryptocurrency. In conclusion, it is difficult to predict the future of cryptocurrencies, and their value may fluctuate greatly. It's important to be informed and make informed decisions when investing in cryptocurrencies, as they can involve high risks and potential rewards.