Effect.AI (EFX): Decentralized network for artificial intelligence

Related instrument : The EFFECT Network
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Effect.ai presents an open and decentralized network that provides services in the artificial intelligence market. This project is called THE EFFECT NETWORK.
logo effect ai

THE EFFECT NETWORK



The 3 phases of The Effect Network require no fees, have a low entry barrier and offer rapid growth to users. It works perfectly on the NEO blockchain and is powered by an NEP-5 network token. The effect of this network will define the future relationship between humanity and AI.

Phase 1: EFFECT Force



Effect Force is the first phase of The Effect Network. It is an interactive market for tasks that require human intelligence. This decentralized mechanical platform allows anyone in the world to perform a wide range of tasks and receive fair payment. It gives AI developers and enterprises access to a large amount of human intelligence to form AI algorithms. When a worker completes a task, he is paid with a NEP-5 network token called an EFX.

effect force platform

Phase 2: EFFECT Smart Market



Effect.AI Smart Market is a decentralized platform where people can offer and purchase AI services. This phase is a natural progression of the network. It will be an open market to offer AI and auto learning algorithms as a service. This market is where AI developers with functional algorithms can sell, rent or distribute their services for a simple and easy payment with EFX tokens. Each algorithm will have its own portfolio to allow easy transaction acceptance. Effect’s AI Smart Market also allows algorithms to communicate and collaborate with other algorithms and purchase services from each other.

Phase 3: EFFECT Power



The final phase provides a decentralized and distributed computing platform that will run popular in-depth learning environments. Effect's decentralized computing engine is based on work environments such as Caffe, MXNet and TensorFlow. Effect wants to distribute the computing power of all artificial intelligence so that there is no one point of weakness. This distribution can be done through partnerships with other projects like Golem, or by directly creating the necessary framework.

THE EFFECT NETWORK in video

The EFX token



The EFFECT network is powered by a digital token called an EFX, which operates on the NEO blockchain. This NEP-5 token can be used in all three phases of The Effect Network.

THE EFFECT NETWORK in action



The EFFECT Network will maintain a decentralized exchange with a group of tokens to provide liquidity, encourage adoption of The Effect Network and stabilize network charges. The Galaxy Pool consists of a mixture of EFX, NEO and GAS and possibly other tokens. Several rules will lead the Galaxy Pool towards a balance. These rules can then be refined through governance. The Galaxy Pool guarantees stable exchange rates for platform users at all times.

effect network pool-structure

The Galaxy Pool is not suitable for day traders, as only Galaxy tokens (G-tokens) can be purchased or given to platform requesters and cannot be traded off the platform. G-tokens are converted into ordinary negotiable tokens by spending them via an Effect service contract. These are the service contracts on the register of tasks and services. This protects the Galaxy Pool from external manipulation and keeps exchange rates stable for workers and service providers.

More information on the official website: http://effect.ai

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