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Matrix is a protocol designed more for chat than for social networks, but it is worth mentioning because it has achieved a federated chat experience with good UX at scale, and has done valuable work on improving identity and moderation. The protocol currently has around 11 million users who use a variety of clients. It is developed by the company New Vector which raised an $8 million series A in 2019. Matrix has a more flexible identity solution than most decentralized protocols — users have a Matrix user id, but can also use 3rd party ids. A Matrix account links to ids such as email addresses, social accounts, and phone numbers. A globally federated cluster of trusted identity servers verify and replicate the mappings. The Matrix team has also been working intensively on tools for moderation, detailed here, and plans to release a p2p implementation soon.
Matrix is a protocol for replicating a signed history of JSON objects in realtime across a set of nodes with (optional) end-to-end encryption. It's designed to support multiple communication cases - Chat, VoIP, IoT, VR/AR, Social etc, but so far effort has been concentrated on providing a federated chat experience with good UX at scale. The public network currently (Feb 2020) has 14.7M known addressable users, with many others in private federations or on servers which don't report stats. Matrix supports multiple clients (most notably [Riot](https://riot.im), the flagship app from the core team), and has bridges to many other chat systems (IRC, Slack, Discord, Telegram etc). Matrix is governed by [The Matrix.org Foundation CIC](https://matrix.org/foundation) (a UK non-profit foundation), with the largest contributor being [New Vector](https://vector.im), a startup formed by the original Matrix dev team, which raised $8.5M series A in October 2019. Matrix has a more flexible identity solution than most decentralised protocols - users have a Matrix user ID, but can also use 3rd party IDs. A Matrix account can link to ids such as email addresses, social accounts, and phone numbers. A globally federated cluster of trusted identity servers verify and replicate the mappings, although this is a stopgap solution until a fully decentralised identity solution is adopted. The Matrix team has also been working intensively on tools for moderation, detailed [here](https://matrix.org/docs/guides/moderation/), and is in the final stages of releasing a [P2P variant of the protocol](https://fosdem.org/2020/schedule/event/dip_p2p_matrix/).