AI has seen tremendous growth in recent times. From giant corporations to small business owners are using variety of AI to maximizing their productivity and efficiency while reducing the labor costs.
EFFECT.AI is a Decentralized Network committed to create and grow private, decentralizes ecosystem for AI development and it's services with a platform called The Effect Network.
What is EFFECT.AI ?
EFFECT.AI is a decentralized network backed by NEO blockchain technology.
Main aim of this platform is to reduce intermediary (third party medium) and help it's users to directly connect with vast pool of developers , businesses who will be able to offer and buy AI services.
Here is a video of the brief introduction of what EFFECT.AI is all about ?
The EFFECT Network :
The EFFECT Network is comprises of 3 phases.
- Phase 1 : EFFECT Mechanical Turk
- Phase 2 : EFFECT Smart Market
- Phase 3 : EFFECT Power
Lets have a detailed look and try to understand what each one means ?
Phase 1 : EFFECT Mechanical Turk
Think of Mechanical Turk as a vast pool of resources (human intelligence) that can help you to perform several tasks and after completing a task, workers will get paid with a network NEP-5 token.
As we already know that in order for any AI to work it must be train. what it means is that we have to feed the data sets to the Model so that it can learn.
AI creators/developers will have access to a large pool of human workforce to train their AI algorithms.
Practical example of EFFECT Mechanical Turk :
Lets assume that i am creating AI that can classify food items based on their images . First thing i will need is to scrap through internet for the different food images with proper details and feed it to the AI so it can learn to recognize each food item based on their respective image set.
As you probably know that this is a too much time consuming task as there are hundreds of thousands images of food items. (even one item can have hundreds of images based on the different ingredients , cooking and decoration style).
In order to achieve this you will probably need 100s of users that can scrap through internet and extract the required information from the different image datasets.
And here the phase 1 comes into the play : a large workforce of humans Intelligence (users) that can classify the food items in an image data set. (every resource or information you are going to need will be available at EFFECT Mechanical Turk)
Phase 2 : EFFECT Smart Market
The second phase is to create a decentralized marketplace where users can buy and sell the AI algorithms as services.
Now what does it actually mean when i say selling AI algorithms as services ?
Lets have a practical example of how this platform will work ?
Suppose you have created one AI algorithm or you are in need of one.
On Effect platform you will be able to sell your AI algorithm or rent 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
And the most fun and Important part is that AI Algorithms on the marketplace can team up and collaborate with other algorithms and even purchase services from each other. (This is heaven for developers)
Practical example of EFFECT Smart Market:
Lets continue with our project of building a AI for food items recognition.
Now i have gathered the enough information and my algorithm can now successfully identify the food items based on the images.
In EFFECT Smart Market i can list this algorithm where i can lease or sell this to other users and applications.
when someone buys or rents my algorithm , I will earn some EFX.
Phase 3 : EFFECT Power
In simple words "Putting all algorithms into the blockchain so that the algorithms run globally without a single point of failure "
The last phase provides a decentralized, distributed computational platform that will run popular deep learning frameworks.
What is it based on ?
The Effect decentralized compute engine is based on popular deep-learning networks like Caffe, MXNet and Tensor flow.
EFFECT.AI will be able to do this through their partnerships with projects like Golem with their Super computer or create the framework themselves .
Are you worried about Security and Trust ?
All code of the EFFECT.AI will be audited by Red4Sec before it's released to the public. Their smart contracts have already been audited by Red4Sec.
What are EFX tokens and Galaxy pool ?
EFX tokens
Basically users will be able to buy services or get paid in EFX tokens.
- workers are able to sell their EFX rewards for native Neo tokens.
- Requester and network users are able to buy EFX
Who are the Workers and Requester ?
- Workers are simply users that will perform center task in exchange for a some amount(price).
- Requester are the users who request a certain task to be done.(which will be done by workers)
Galaxy pool :
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 (EGP) and consists of a mix of EFX and native tokens
Galaxy pool will insure the stable exchange rates for the platform users and it is not suitable for the day traders. It has a mechanism to prevent price manipulation and EFX tokens are used as a currency on the Effective network.
The more activity the networks has the more valuable they become
Here is Live demo for Effect Mechanical Turk work in action.
Effect Mechanical Turk MVP Demo with Charlie Shrem and Effect.AI
Lets meet the Team :
Advisors
Team
Footnotes:
More Information & Resources:
Effect.AI Website
Effect.AI WhitePaper
Effect.AI LightPaper
Effect.AI YouTube
Effect.AI Medium
Effect.AI Facebook
Effect.AI Twitter
Effect.AI Telegram
Effect.AI Review/Explanation Video
Please do your own research before using any of the services of any platform or before investing in the ICO. author of this post is not responsible for any action that readers might take.
This post is a entry for the writing contest 300 STEEM + 40 Bonuses ~ Sponsored Writing Contest: EFFECT.AI sponsored by @originalworks
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