Effect AI is a new decentralized network for artificial intelligence

in effectai •  7 years ago 

To begin with, Effect.AIEffect AI is considered to be an open and decentralized network which is created for artificial intelligence. The Effect Network is the name of its project. And for realizing this project and managing effectively the growth of the Effect Network there will be three consecutive phases. The aim of the first phase is developing The Effect Mechanical Turk. This network will do it due to some important reasons. The key reason is to create a connection between supply and demand of some small tasks on a decentralized network.

The second phase will be conducted for creating the Effect Smart Market. It will be a kind of a decentralized exchange. Here all users will have an opportunity to buy, exchange or improve each other’s AI services. Then the last third phase is called Effect Power. In this phase, the Effect Ne4twork will distribute the real computation which will reduce the costs which are connected with actually running algorithms.

Effect.AI is based on the NEO blockchain and is powered by a network NEP-5 token. Its Token Sale starts in more than 3 days. It will end in 18 days after the beginning. The amount of Soft Cap is € 4,280,000 while Hard Cap is € 14,820,000. For the first 2% of tokens, there will be a bonus of 10%. The minimum sum of money that can be contributed is € 50. And the maximum contribution is € 25,000. The only accepted currencies for purchasing of tokens are NEO and GAS. Maximum Supply is 650,000,000 tokens.

The technology of EFFECT M-Turk

In this platform Effect.AI, there is a decentralized on-demand, scalable and distributed workforce. It is useful for both requesters and workers. First of all, requesters load their tasks, then determine the reward in cryptocurrency and finally retrieve the results and use it for training their own AI algorithms. In turn, workers are provided with different interesting tasks. So, everyone can find the one which will interest him or her. After that, a worker should accept the task and follow the instructions. And finally, for being paid, this work should wait until the requester will approve his or her results.

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7 years ago by

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