All about the just concluded ico - Effect.ai

Artificial intelligence is increasingly integrated into our lives. Smart services, such as cars with autopilot, face recognition and voice recognition on mobile phones, text translation from the image is used by people every day. What really carries the development of II? Along with threats to mankind, repeatedly described by science fiction writers and touching the minds of millions, the development of artificial intelligence will undoubtedly radically change most spheres of life and is a key factor in the onset of the next industrial revolution.
At the moment, the artificial intelligence market is constantly growing and is in great demand, but unfortunately the industry of ai has serious obstacles to development, such as: data processing, which requires huge resources and time; the complexity of the task, since for the execution of tasks, it is mainly required to connect a lot of third-party applications; computing costs. At the moment, the possibility of developing and applying AI. have only large corporations, such as Google, Facebook and Amazon, which naturally leads to a monopoly in the industry and cuts off many who want to participate.
The pool of liquidity and smart economy
The main goal of Effect.ai is to create a platform for the development of II, resistant to influence and manipulation from the outside and to exclude speculative trade. To do this, the Effect network will support the central pool of Galaxy tokens for liquidity, providing a stable exchange rate for the platform participants. Any coin bought in the pool will be marked and can be converted into a regular trade token only through a contract with the service.

Reputation points will also be introduced for users based on the quality of their work. Users with a higher rating will be able to count on performing highly paid assignments.

The global market for II.
The project Effect.ai is designed to overcome the existing difficulties in the development of AI by building a decentralized global market for artificial intelligence and related services based on a blocking network that will reduce entry, stimulate market growth and reduce the cost of use.
The project will use smart contracts deployed on the NEO unit, and directly connect the supply and demand through the mini-tasks platform and give access to anyone who wants to network resources for training their own AI algorithm. The network is planned to be developed in three consecutive phases:

• The first phase is Effect M-Turk - a decentralized platform on which anyone can create (as a customer) or perform (as an employee) the tasks of creating, developing and training AI algorithms for reward in EFX project tokens. The platform has a similar business model as Amazon Mechanical Turk, Fiverr, OneSpace and Guru.
• Creating the Effect Smart Market - a global market where you can buy ready algorithms, services through smart contracts.
• Effect Power. At the third, final stage, all computing power will be decentralized and distributed. The Effect Network engine is based on popular structures of deep machine learning, such as Caffe, MXNet and TensorFlow, using real-number matrices that can be distributed over a decentralized file system and supported by various network nodes.
ICO Details
The project looks very promising even in the current falling market. At the moment, the project has confidently assembled a software with a hardcarp equal to 14,820,000 euros. A total of 650 million EFX tokens will be issued, of which 250 million will be available for sale during the ICO. The project has a strong team and an interesting concept in a fairly new, demanded industry. Tokensale ended today around 3hrs ago.

Exchange Listing
Effect.ai team has officially announced they will be listed on switcheo exchange. No official date has been fixed. But I will advise we grab a bag of efx as soon as its been listed. Switcheo is a dex exchange which also has its on token swh. It’s a nep-5 dex exchange. So it’s a good move by the dev guys of efx to officially get listed on swh.

More information:
Website: https://www.effect.ai/
Telegram: https://t.me/effectai