Effect.ai

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Effect.AI is an Amsterdam based company that is working on a blockchain-powered, decentralized platform for Artificial Intelligence development and AI related services. Public Token Sale coming in March.

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Token Details
Ticker: EFX
ICO: March 2018 (Exact date TBA)
ICO End Date: 18 Days after start date
Softcap: €4,280,000
Hardcap: €14,820,000
Minimum invest: €50
Maximum invest: €25,000
Accepted currencies: NEO, ETH
Maximum numbers of tokens generated: 650,000,000 tokens
Whitelist: TBA

View Token Sale Breakdown

The EFFECT Network

Decentralized Network for Artificial Intelligence

The Artificial Intelligence market is growing at a remarkable rate but is becoming increasingly more inaccessible by every passing moment. Large corporations like Google, Facebook and Amazon have driven the innovation of AI and its development behind closed doors. Our project introduces a solution by creating an open, decentralized network that provides all services in the Artificial Intelligence market. This project is called The Effect Network.

The Effect Network requires no fees, has a low barrier of entry and provides fast growth to its users. The Effect.AI Platform runs on the NEO blockchain and is fuelled by a network NEP-5 token called EFX. The effect of this network will define the future relation between humanity and AI.

The Problem

The AI market will benefit from decentralization because of the high degree of interaction between agents. Currently, most intelligent algorithms are developed behind the closed doors of large corporations, while academic achievements are available to the public. The main reasons that make practical AI development inaccessible for individuals are listed here:

Data Processing

Processing of datasets and finding patterns that provide useful output require a lot of time and money.

Diverging Tasks

The need for external applications to complete more complex algorithms quickly increases workload.

Computational Costs

Developing and training large AI is a computational intensive task. Effect proposes a system to train and run algorithms.

The Solution

Our project introduces a solution by creating an open, decentralized network that provides all services in the Artificial Intelligence market. This project is called The Effect Network. The Effect Network replaces several existing services in the current centralized AI market. It requires no commissions, has a low barrier of entry and provides fast growth to its users. Effect accomplishes this in three phases;

Phase 1

EFFECT Mechanical Turk
The first phase of The Effect Network will be an interactive marketplace for tasks that require human intelligence. A Decentralized Mechanical Turk (M-Turk). It allows anyone in the world to perform a wide range of tasks and receive fair payment. It will give AI developers and businesses access to a large workforce of human intelligence to train AI algorithms. When a worker completes a task, they are paid with with a network NEP-5 token.

Phase 2

EFFECT Smart Market
The Effect AI Smart Market is a decentralized platform where people can offer and buy AI services. This phase is a natural progression of the network. It will be an open marketplace for offering AI Algorithms as a service. This marketplace or exchange is where AI developers with a functional Algorithms can sell, rent or give out its service for a simple and easy payment with the Effect token. Each Algorithm will have its own wallet to allow for easy acceptance of transactions. Also within this marketplace, Algorithms have the ability to communicate and collaborate with other algorithms and and purchase services from each other.

Phase 3

EFFECT Power
The last phase provides a decentralized, distributed computational platform that will run popular deep learning frameworks. The Effect decentralized compute engine is based on popular deep-learning networks like Caffe, MXNet and Tensor flow. We want to distribute the computational power of all AI so there is not this one point of weakness. We can do this through partnerships with projects like Golem with their Super computer or create the framework ourselves.

The EFFECT Network in Action

The Effect Network will maintain a decentralized exchange with a pool of tokens to provide liquidity, encourage adoption of The Effect Network and stabilize network fees. This pool is called the Galaxy Pool and consists of a mix of EFX, NEO, GAS, BTC, LTC and other tokens. Several rules will drive the Galaxy Pool towards an equilibrium balance. These rules can later be refined by means of governance.

The Galaxy Pool ensures stable exchange rates for users of the platform at all times. The Galaxy Pool is not suitable for day traders, as only Galaxy EFX can be bought or given to platform requesters and can not be traded off the platform. The Galaxy EFX is converted into regular tradable EFX by spending it through an Effect service contract. These are the service contracts from the tasks and service registry. This protects the Galaxy Pool from external manipulation and keeps exchange rates stable for workers and service providers.

How does EFFECT M-Turk work?

A decentralized on-demand, scalable and distributed workforce.

How does EFFECT M-Turk Compare to its competitors

Human Intelligence Task marketplace to teach AI

The Effect Network allows anyone in the world to perform tasks that are vital for algorithms to learn and grow. Human agents that perform these tasks will receive fair payment within this decentralized platform in exchange for the work they perform. It gives AI/ML developers and businesses access to a large worldwide workforce to help create data sets necessary for AI learning.

EFX and Galaxy Pool

It is important to maintain liquidity in EFX, especially during the early days when there is no listing on exchanges. Ideally the following actions should always be possible:

Workers are able to sell their EFX rewards for native tokens
Requesters and network users should be able to buy EFX

For a new token on the market this kind of liquidity can be hard to achieve and can be hurt by speculative trading. The Effect Network will maintain a central pool of tokens to provide liquidity, encourage adoption and stabilize network fees. This pool is called the Galaxy Pool and consists of a mix of EFX and native tokens. Several rules will drive the Galaxy Pool towards an equilibrium balance. These rules can later be refined by means of governance.

The Galaxy Pool ensures stable exchange rates for users of the platform at all times. The pool is not suitable for day traders, as only Galaxy coins can be bought. Any coin that is bought from the Galaxy will initially be marked, a marked coin can not be sold back to the pool. A marked coin is unmarked (converted to a regular tradable EFX token) by spending it through an Effect service contract. These are the service contracts from the tasks and service registry. This protects the Galaxy Pool from external manipulation and keeps exchange rates stable for workers.

EFFECT Roadmap

The EFFECT Team

Conclusion

Having an open, accessible and affordable platform for intelligent algorithms to operate and develop will be a key component in the coming century. Artificial Intelligence and decentralization are a natural match. Along with the rise of blockchain technology and the surge in the global AI-market this enables big opportunities. The Effect Network effectively combines the two technologies. It will replace a significant portion of the 3.1 trillion USD AI-market by a decentralized platform, giving immediate practical and monetary value. It also has the potential of becoming the breeding ground for emerging AI-technologies and will be at the front of AI emancipation. Registering AI interactions on the blockchain also has benefits for society. Bill Gates had the idea to tax labor performed by AI-algorithms, to compensate for the loss of jobs in many sectors. This idea seemed science fiction at the time, but this can be realized on The Effect Network; where algorithms are registered, can control their own bank account, and have transactions published on the blockchain.

The effect of this network will define the future relationship between humanity and AI.

Bitcointalk Announcement: https://bitcointalk.org/index.php?topic=2737469.0
Web: https://effect.ai
Telegram: https://t.me/effectai
Medium: https://medium.com/@effectai
Reddit: https://www.reddit.com/r/effectai/
Twitter: https://twitter.com/effectaix
Facebook: https://www.facebook.com/effectai/
LinkedIn: https://www.linkedin.com/company/27091205/
GitHub: https://github.com/effectai
Bounty: http://www.g0blin.com/effect

Announcing Effect.AI’s Fully-Featured and Blockchain-Powered AI Development Network. Public Token Sale this March.