What is Effect.AI ?
Before going into specifics, I want to inform you that the whitelist process starts in less than 9 hours. In case you want to invest in this project, you should be ready for it. You can find the whitelist information and requirements here. And don't worry, the contribution period will be on another date.
So what is Effect.AI ? It is a decentralized network for artificial intelligence. You are wondering what that means right ?
Basically what they want to accomplish is building a decentralized mechanical turk, like the one that amazon has only that it is decentralized, which is a key factor. Amazon's mechanical turk is an online platform where you can go and hire people to do very small tasks like doing searches, click your page in the search results and do some small actions. But like major platforms they take a fee for buyers and sellers. So by creating a decentralized version of the mechanical turk you will be able to remove the middleman and lower the fees.
In the end the mechanical turk decentralized model will end up powering artificial intelligence.
Key futures
Links supply and demand for micro-tasks, like amazon's mechanical turk
Exchange of AI applications, which can trade data between each other
Users can also buy data, or create their own data sets by issuing tasks
Idea : by creating a standard for AI development, anyone can develop an AI intelligence. This will create multiple AI's which, through a standard, can interact and create on emergent AI
There will be 3 phases of development
Phase 1 : Effect Mechanical Turk
Phase 2 : Effect Smart Market ( a decentralized marketplace where AI algorithms can exchange their services)
Phase 3 : Effect Power
In the final ‘Effect Power’ phase of the network, the actual computation will be distributed so that the algorithms run globally without a single point of failure. To achieve this, The Effect Network uses the fact that most machine learning algorithms have rigid structure and operate on sets of weights.
Effect.AI’s main objective is to build an AI development platform that will stand the test of time. To accomplish that, they have to design a platform that is resistant to outside influence or manipulation by third parties. This necessarily means preventing whales and syndicates from being able to destabilize the platform. In addition to a strict whitelist and KYC process for the Public Token Sale, a key component of the platform will be the Galaxy Pool. Having a central pool of EFX tokens will ensure the necessary level of liquidity is always maintained. This allows:
- Workers to sell their EFX rewards for native tokens
- Requesters and network users to buy EFX if they wish to do
Tokenomics
- Total Supply of tokens: 650 Million EFX
- 10% discount is applied to the first 5,200,000 tokens sold
- No presale for this ICO, only public sale ensures equal distribution of tokens and no whale manipulation of the price
For more details on this project you can visit this links
Official Site : https://effect.ai
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