EFFECT ICO Overview

doki16 (14)in #cryptocurrency • 6 years ago

EFFECT Netwotk

Table of contents:

EFFECT platform
Goal
Problems and solutions
Benefits
How does it work
ICO Details
Conclusion

EFFECT platform

The market of artificial intelligence is growing more often, the projected size of 15.7 trillion. Dollars already in 2030. Between transport, trade and communications, AI is likely to have a significant impact on people's lives over time.

However, only some companies, such as Google, Facebook and Amazon, have the ability to develop these algorithms right now. This is due to the fact that the input barrier is currently very high due to data processing, diverging tasks and computational costs.

Effect.AI offers a private, decentralized ecosystem for the development of AI and services related to AI, called The Effect Network. This network is designed to provide an alternative to services such as Amazon Mechanical Turk, Fiverr, OneSpace and Guru.

Goal

The goal will be to provide the majority, if not all, of the services needed for a healthy and affordable artificial intelligence market. Effect.AI offers a private, decentralized ecosystem for the development of AI provisioning services called the network effect. This network is designed to provide alternative services, such as Amazon Mechanical Turks, free programs, OneSpace and Guru.

Problems and solutions

Problem:
When developing developers need to get information about the human experience, for building AI, if you apply for data through a centralized Amazon mechanical turk, then the Amazon commission is 40%.

Solutions:
With NEO blocking, the exchange of such data through smart contracts becomes without commissions, projects simply change data or buy data for EFX tokens without commissions. Plus, the token serves as a means of payment to workers (people who perform micro-tasks, train AI) while workers receive 3 times more compared to Amazon.

Benefits

· Learning algorithms will become easier, cheaper and faster
· Accuracy of all accomplishments
· Platform users will be able to purchase algorithms to improve their data.
· Decentralization of artificial intelligence with the help of a blocker
· The network will be created gradually, which helps it to adapt better.

The existence of a fully open, simple platform that provides intelligent algorithms and for working with them will be a major part of the future.

The platform has its own EFX tokens, which will guarantee security, fairness and fair exchange for you. The EFX token works on the NEO smart economy.

In our plans to create the most user-friendly platform. Our market will be public and decentralized

How does it work

The network does not require any commissions, has a low barrier to enter the market, and is divided into three stages: the mechanical Turks, the Smart Market, and the network effect, the details of which are described below.

Phase 1: Mechanical Turks - the effect of the "mechanical Turk" is a private, decentralized platform for work that requires the human intellect. It is based on a centralized business model, such as the Amazon Mechanical Turks, free programs, OneSpace, and Guru.com. However, the key difference for the "mechanical Turk" effect is that it is peer-to-peer, connecting demand and supply more efficiently.

Applicants can create tasks called task intelligence intelligence should be completed by employees in exchange for remuneration. These tasks are described and summarized using smart contracts for blockchain.

Stage 2: smart market - the effect of the Smart Market will be a decentralized market in which algorithms can exchange their services with users and with each other. Owners of applications can register their AI product and specify a price or a fee for use, and these applications are available to everyone in the intellectual market.

Users interested in the AI product will have to translate the necessary tools to obtain an authentication token, allowing them to interact with the specified AI.

Phase 3: Network Effect - Prior to Phase 3, the algorithms continue to work on centralized servers. The phase of the final "network" of the network effect will set these blocking algorithms, so that they work globally through Neo's blockbuster.