Effect.ai
Sourced from Whitepaper & Lightpaper
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
Chris Dawe Project Lead - https://www.linkedin.com/in/chris-r-dawe-b79217151/
Jesse Eisses Blockchain Lead - https://www.linkedin.com/in/jesse-eisses-9760ab48/
Laurens Verspeek Development Lead - https://www.linkedin.com/in/laurensverspeek/
Nick Vogel Design & Interaction Lead - https://www.linkedin.com/in/nvogel/
Jeffrey Hamer Developer - https://www.linkedin.com/in/jeffrey-hamer-505175151/
Nico Curylo Developer - https://www.linkedin.com/in/nico-curylo-a46802109/
Polina Boykova Community Manager - https://www.linkedin.com/in/polina-boykova-17298758/
Jaqueline Gross Administration - https://www.linkedin.com/in/jaquelinegross/
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
Artificial intelligence is intelligence displayed by machines,in contrast with the natural intelligence displayed by humans and other animalsIn computer science AI research is defined as the study of intelligent agents ...And now began to be applied in this project..This is good news
Effect.ai will create a huge difference in AI space and bridge the gap between humans & AI. This will also create a Intelligent human task force backed by Artificial Intelligence.
Never had heard about Galaxy Pool in earlier posts, that looks very nice idea and remembers me of a bancor liquidity pool. Cheers guys, keep working!
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Very impressive comparison with competitors. Strong competitive advantage is your main asset.
Effect.AI creates an innovative platform for intelligent algorithms. At the moment the project is unique and creates its own niche market.
AI is the future and this is one of the leading projects.. Nice to see developing fast
The whole project looks solid and cool, also love the new ticker EFX
Decentralized Network for Artificial Intelligence that combine feature all competitors in one place. It should be great project.
+NEO power
+absense of private and pre-sale.
Looks very interesting for me
I like the fact that Effect is building complete platform with distributed AI, marketplace and M-Turk. That is why I think it may beat the competition. I'm already accumulating NEO for the upcoming tokensale.
15mil hardcap.. my body is ready
I'm ready!!!
Nice explanation and clear road map. Good luck, team. Upvoted)
Very cool and innovative project!
@effectai Do you already have MVP(minimum viable product) and when do you plan to show it for community? It will be nice to see before token sale, is it posible?
Artificial Intelligence and decentralization is the future.
I believe that you will soon be in the lead.
I will look forward on this project.
Great post. I subscribed to you and voted. I hope for reciprocity!
One of the most awaiting ICO of 2018 Q1. Strong Team, Strong Project.
This project is very promising and I look forward for its implementation in our time. Ready to buy more of this tokens.
Effect.ai is one of the best ICO for march. Coming on NEO platform is really a good thing.
All the best
Effect.AI is leading the charge to make make AI a distributed service available on demand on the blockchain. This is one of the hottest ICO's in the pipeline and definitely worthy of consideration.
This was alot to take in. But overall I think the idea of data accumulation to actually contribution to the entire AI network is a very large scale idea as a whole. But blockhain is allowing this "task" so to speak become something very rewarding for users at the same time. I really do think that with more time in the space that AI and Blockcgain together can accomplish alot. I do however feel the lack of awareness on this whole idea needs to be addressed as many people still do not see the relationshio between AI and blockchain, but hopefully it will become more apparent moving forward.
Love the idea of a Galaxy pool.one of the main problems we face when trading is always changing prices, but Introducing Galaxy pool concept, It will truly help to stabilize the exchange rates.
Follow me or vot also
finally a one serious project base on NEO blockchain, great team behind, nice web layout and phenomonal usecase of the platform, this guys are seriuos about this with tremendous effort upon introducing and launching of the project to the masses! good luck guys, we'll be looking forward on this!
This project is very promising and I look forward for its implementation in our time. Ready to buy more of this tokens. Very cool and innovative project!
I think the most important advantage of your platform is accessibility, simplicity and the possibility of mass use. You will definitely have a huge success!
AI will become a huge part of our entire future economy since the rapid advancement in this area is constantly increasing. The potential for the next 10 to 20 years is in the trillions of dollars. Thats why a project like effect.ai has such great chances because it wants to provide a platform for this enormous future market. The plan is solid and so are the numbers behind it.
Now this time AI technology much requaried..
thanks ...best wishes for ICO
First of all this is most interesting idea I ever seen in crypto world. good luck team. This is my first comment for you . I apologize and leave my thoughts to the next comments. :)
I see great potential in this project.
First of all the hard cap is small considering the current market situation at ICOs. Project has already some work done in the past - roadmap starts from Q2 2015.
40% of tokens will be sold during the Public Token Sale - that is normal. 15% of tokens generated to Effect AI team are locked for 24 months by smart contract. Maximum investment is capped by 25k EUR that will prevent from whales.
The idea is clear and understandable. Good luck guys. I wish you success.
I have that feeling when the idea will reach the moon. Here are a couple of reasons why I am strongly confident in that:
Based on NEO blockchain. One of the fastest and promising platform.
There are some trends in 2018 - Machine Learning and Artificial Intelligence. EFFECT takes part of the trends in 2018.
The community will increase because of Mechanical Turk. Everyone in the world can participate and earn money. Simple as is.
AI marketplace has never heard about such idea before. Buy/Sell AI capabilities - perfect solution.
Effect.AI creates an innovative platform for intelligent algorithms. that's good idea, good luck team
Effect.ai
One of the great AI project.This project grab my attention. I think this project very profitable for long-term investment!
Good luck Team.
The effect of this network will define the future relationship between humanity and AI. This got me on my toes :D cant wait for this project to go live. #EFX
A product that will amaze your mind with the concept of a new digital world with crypto-economics and the capabilities ofAI. Enjoy it.
promising project. AI will be the future and this is one of the leading projects
Looks like nice. And hard cap is not so high. i think people will rush to be a participant of this project. wish you good luck!
Thanks for this information. I will share it. Interesting read.
A nice team, an innovative idea and strong community. if everything goes well they will reach the hard cap very quickly!
I think that most important part is that Effect Mechanical Turk is a peer-to-peer system, meaning that supply and demand connect more directly and efficiently.
The area of AI is still developing and has huge space to grow. One of the major problems faced by researchers and developer of AI systems is the processing power demanded by the algorithms. With the new concept of decentralized ecosystems the burden will be released and they can really focus on the real AI. The project has a really potential of success.
I am sure that soon we will hit the limits of Telegram groups! And even if no - it does not matter! #Effect.ai will bring humanity to the top
Great !!!! This is the best project in artificial intelligence projects that I know of
The project looks very much interesting and surely has a lot of potential. The team looks strong indeed. One of my concern is regarding the project based on AI. Recently a lot of similar projects have risen up , how does your project differs from other similar ones?
I like that the Effect.ai is implemented on the NEO platform - it's a young rapidly developing platform that in the future will seriously compete with the Etherium.
I'm also attracted to the fact that this project implements non-standard methods for blockchain powered AI development, decentralized, distributed computational platform that will run popular deep learning frameworks.
Very good project. I glad that im following it from the start!
Excellent and purposeful team. Guys, wish you all the best! You will increase people's confidence in ICO and reduce risks. I see this company growing with a very good choice! Join this platform!