Cortex CTXC to Namecoin NMC Exchange

Crypto Pair Details: CTXC to NMC

Cortex CTXC

Cortex is built on a new public chain called Cortex. The chain includes AI algorithms that support smart contracts, which means anyone can use Cortex to add AI to their smart contracts. It also creates an incentive mechanism for collective collaboration, allowing anyone to submit and optimize models in Cortex, while model contributors can also be rewarded. The end result of Cortex, according to the whitepaper, is the creation of “artificial general intelligence”, or AGI, “being born on the Cortex”. Cortex completed a private token sale in February/March 2018 for its CTXC tokens. That funding round was led by Bitmain and FBG Capital, among other well-known investors in the cryptocurrency space. Placing artificial intelligence systems on the blockchain isn’t a straightforward process. However, Cortex will solve this problem by allowing machine learning researchers around the world to upload well-trained corresponding data models to the storage layer of the Cortex public chain. Other users who need these AI models can make inferences using the models, then pay the person who developed those models. At each inference, a full node synchronizes the model and the data from the storage tier to the local site. Making an inference using Cortex’s unique virtual machine, or CVM, will synchronize the results to the whole network and then return the result. Every time a user initiates a transaction on the Cortex, opens a smart contract, or performs an intelligence inference, the user will need to pay a certain number of “Endorphin” tokens. Endorphin is the pricing unit for transactions on Cortex. However, the platform will have two tokens, including Endorphins and Cortex Coins (CTXC). The overall goal of Cortex is to provide state-of-the-art machine learning models on the blockchain where users can infer using smart contracts. Cortex also seeks to create a machine learning platform where users can post tasks on the platform or submit artificial intelligence-based decentralized apps. Cortex’s token sale began with a single private placement round. That round took place from February 7 to March 7, 2018, during which tokens were sold at a price of 1 ETH = 1500 CTXC. In March 2018, the company announced that it had reached its target cap of 40,000 ETH for 60 million CTXC, or 20.01% of the total token distribution. FBG Capital and Bitmain were lead investors during the token sale. CTXC tokens are ERC20 tokens on the Ethereum blockchain. There’s a total supply of 299,792,458 tokens. Of the total supply, 50.03% (150 million) are reserved for Cortex coin miners as a mining reward, 24.95% (74,792,458) are dedicated to the project’s foundation from the genesis block (including 15.01% to the Cortex Lab, 9.01% to project marketing, and 0.93% to challenge bounties), with the remaining 5% going to advisors, academia, and the community from the genesis block. Cortex aims to place advanced artificial intelligence systems on the blockchain. The company recently completed a private investment round during its token sale for CTXC tokens in February/March 2018. The next step is to roll out the Cortex public chain. Key features of the platform include its smart AI contracts and its Cortex Virtual Machine, both of which allow for advanced AI-based smart contract programming.

Namecoin NMC

Namecoin is a domain name registry service and was the first coin to fork Bitcoin. Similar to registering a .com or .io domain name, you register a .bit domain on the network. This domain is censorship-resistant and impervious to activity tracking. Governments and large corporations control traditional domain name services (DNS) servers. This control is how the Chinese government, for instance, can block websites that go against their beliefs. To prevent this level of censorship, Namecoin uses blockchain technology to distribute its DNS amongst the users on the network. A pseudo-anonymous founder by the name of “Vince” created Namecoin in 2011. Since then, Vince has disappeared, but a core development team has kept the project alive. The project has several developers listed on the official website and benefits from the contributions of numerous anonymous developers as well. Namecoin has been fully functional for a few years, now, and the development team posts updates several times a month. Namecoin was the first cryptocurrency to use Auxiliary Proof of Work (AuxPoW) for its consensus. By using AuxPow, Namecoin and Bitcoin can be mined simultaneously. In this consensus, the child blockchain depends on the proof-of-work of parent blockchain, which means If a new block is created on Bitcoin blockchain, it will also be added to the Namecoin blockchain. NameID is another technology brought by Namecoin. It serves as an open service for securely registering human-readable names in a decentralized way. NameID is a combination between Namecoin and OpenId, where users can easily convert their Namecoin Identities into OpenIDs. This makes NameID a solution to Zooko's triangle, which states that there are three desirable properties (Human-meaningful, Decentralized, and Secure) for name participants in a network protocol and any participant can only inherit two properties at a given time. Namecoin is among some earliest cryptocurrencies. During its existence in the market, it has seen a high volatility on some occasions, which can be attributed to many reasons. Namecoin has been around in the cryptocurrency market much longer than most cryptocurrencies today; however, despite this, it has not gotten much attention until recently. In 2014, it was among the top ten cryptocurrencies by market capitalisation, which is now changed due to the introduction of hundreds of new cryptocurrencies. Namecoin was abandoned by its creator which can be seen as a red flag by many. The project is currently being developed with the support from its community. The current team has been actively taking the project forward and also provides regular updates on social media channels.

SOURCE: COINGECKO

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