Effect.AI (EFX)

Effect.AI (EFX) widget

ICO date: 24.03.2018 - 28.03.2018
Product Type: Platform
Marketplace
Industry: IT
Description:

Effect is a NEO based decentralized AI platform.

Features:

Effect.AI is a decentralized platform based on blockchain technology that is created for the development of Artificial Intelligence market and AI related services called The Effect Network.This network is designed to provide an alternative to such services as Amazon Mechanical Turk, Fiverr, OneSpace and Guru.

Effect will fully operate on smart contracts deployed on the NEO blockchain, access to which is available to every Internet user. The purpose of Effect is to provide services necessary for an accessible artificial intelligence market. The Effect Network requires no commissions, and its release is split up into three distinct phases with separate goals:

  • Mechanical Turk for creation of microtasks that can then be completed by workers in exchange for crypto.

  • Smart Market for exchange of algorithms. The developer registers his product and sets the price for its usage. The user interested in this AI product pays the indicated fee and gets access to the AI algorithm.

  • Effect Network for transferring these algorithms from the centralized servers on the blockchain, so they are running on a global scale via the NEO blockchain.

The full release of phase 1 is set for Q3 2018. Phase 2 is currently set to come out in Q2 2019. Phase 3 is set for Q4 2019.

The EFX token will be launched on the NEO blockchain, adhering to the NEP-5 token standard. It will be the medium for payments between workers and requesters on The Effect Network. The objective of Effect is to maintain liquidity for EFX tokens, therefore, the Effect.AI Galaxy Pool (EGP) will be designed consisting of a mix of EFX and native tokens and featuring price manipulation mechanism. Several rules will drive the EGP towards an equilibrium.

Effect.AI project will enable to set tasks in AI segment, issue an approximate fee for their execution and find people who can solve these problems.

Website: effect.ai
Whitepaper: Whitepaper
Yellowpaper: Yellowpaper

Rating Review and Analytics

Investment rating
Stable Expire date: 26.06.2018
Hype score
High 3.2 / 5.0
Risk score
Medium

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See also