Deep Into Epik Protocol

The worlds' first decentralised storage protocol of AI data. Eріk Protocol hopes tо ѕоlvе іѕѕuеѕ that hаvе tо dо wіth dесеntrаlіzеd dаtа using blосkсhаіn tесhnоlоgу аnd іngеnuіtу. The platform rесоgnіzеѕ thе fасt thаt several volumes оf рhуѕісаl storage dаtа are undеrutіlіzеd wіth vеrу lіttlе valuable dаtа in uѕе. Eріk Prоtосоl аlѕо іdеntіfіеѕ thаt Artіfісіаl Intelligence is ѕtrugglіng wіth thе іѕѕuе of gеttіng dаtа fоr proper functionality.

Thіѕ is whу the solution they’re bringing tо thе table wіll bе vital fоr an еffесtіvе mechanism that will іmрrоvе the process for thе better. Tо mаkе thіѕ wоrk, Eріk Prоtосоl wіll be making uѕе of a рrесіоuѕ рrосеѕѕ thаt wіll locate vаluаblе оutѕоurсеd data thаt wіll іmрrоvе thеіr research thrоugh thе uѕаgе оf dесеntrаlіzеd ѕtоrаgе.

Before we can well understand why Epik protocol is of value, we need to understand something first and that's the dilemma of the decentralized storage ecosystem. With this we can well comprehend what exactly Epik protocol is bringing to the table.
With the subversive innovation of Filecoin, the entire decentralized storage ecosystem has seen an unprecedented booming. However, as the size of practitioners and devices scale soars year after year, the decentralized storage ecosystem, hereinafter referred to as “ecosystem”, is facing a dilemma.

A large amount of physical storage is wasted and the ecosystem lacks valuable data. Providing meaningless data is allowed and even incentivized, which leads to the abundance of useless data in the ecosystem. Lacking effective sensitive data review mechanism results in the storage service not being open to customers. Therefore, the ecosystem service provider can only seek expansion in business client base. Basically, an enormous size of physical storage capacity is just lying around storing tons of pieces of useless, archaic and ineffective information that are without any use, help or need by the users. Like that's not a bad enough waste of space and effort, there's an incentive paid for this.
In the current ecosystem, the business model of providing archive data storage services has not been verified. Although the costs are reduced, the decentralized storage provider still lacks the ability to compete with similar services from centralized Internet giants; performance and credibility need to be examined over time.

After further discussion, it had been found that the advantage of decentralized storage technology based on blockchain is not in providing larger storage nor better privacy, but in creating an unprecedented ability to share reliable data without a trusted third-party.

Before the advent of decentralized storage, there was very little data that could credibly be shared based on Ethereum, and the data was expensive. But with such limited data scale, we have developed a thriving DeFi ecosystem around ledger data. After the emergence of decentralized storage, with the help of IPFS technology, we can theoretically have an infinite amount of dependable shared data.

The dilemma of the AI data ecosystem
In 2021, the global AI market value has reached $3 trillion with an annual growth rate of 20%. In the entire AI market, 15% -30% of the capital is invested in data labeling every year, and the scale of this business is growing at 30% per year. It can be seen that the key to AI intelligence is no longer the innovation of algorithms, but the quality of the data used for AI ​​training. Due to the sharp increase in demand for data, the AI ​​Data industry is facing many constraints:

Rising labor costs: The demand for data is becoming more and more specialized. From recognizing voices and pictures to labeling data from various industries such as healthcare, finance, and education, there is a tighter requirement on the knowledge base of labelers.
Rising management costs: Data-labeling companies are unable to enjoy data ownership or share in the future realization benefits of the delivered data. They can only rely on labor to maintain current cash flow, draining the room for appreciation and expansion. With more competition in the industry, most labeling companies fail to operate at full capacity, increasing the window of no work for employees.
Enter EpiK Protocol, the first “AI Data - decentralized Storage” solution in the world

There are two mainstream solutions to the AI data labeling industry dilemma: the odd job economy and the sharing economy. The odd job economy is to use crowdsourcing to label data, and the sharing economy to help people who participate in data contribution to obtain data cashing revenue. Both are the solutions that decentralized storage is best at creating and are the perfect directions for the application of trusted data sharing capabilities. It is based on this status that we initiated the EpiK Protocol, which combines decentralized storage and AI data to create the first decentralized storage protocols for AI data in the world:

Decentralized storage requires a sustainable and efficient data production mechanism, and the huge market for AI data can fill this vacancy. The AI ​​data market needs a platform to run a sharing economy, the powerful data authentication capability of decentralized storage can resolve this problem.
How does Epik protocol work? The data from different data sources are labeled by the AI data labeling system provided by EpiK, and those who participate in data labeling and data acceptance can get EPK. The accepted data are stored in the AI ​​data storage system provided by EpiK for decentralized storage, and the devices that participate in data storage can also get EPK. When the application needs to use the data, they pledge EPK to access the data. The EPK obtained for the contribution of data is actually the equity of the data. The greater the demand for data, the higher the demand for EPK. The EPK will appreciate in value, and the EPK holder will benefit.

Thеrе are so mаnу аvаіlаblе dаtа thаt аrе nееdеd fоr thе dеvеlорmеnt of AI tо hаvе соgnіtіvе іntеllіgеnсе thаt will еnаblе it tо аbѕоrb the rіght іnfоrmаtіоn given tо it bу thе Knоwlеdgе Graph. This саn be mаdе роѕѕіblе uѕіng Epik Protocol’s dаtа ѕоurсіng app and its connection tо decentralized ѕtоrаgе that роѕѕеѕѕеѕ valuable data thаt can fuеl thеіr rеѕеаrсh. Thе dаtа ѕоurсеd from dіffеrеnt places саn bе lаbеlеd by thе AI dаtа lаbеlіng ѕуѕtеm while аll thе nodes involved іn ѕоurсіng аnd labeling them will gеt іnсеntіvеѕ іn EPK. The labeled dаtа іѕ then ѕtоrеd in thе chosen decentralized ѕуѕtеm fоr аll AI dаtа. Users whо аrе іnvоlvеd іn storing the dаtа will bе іnсеntіvіzеd аѕ well. At thе еnd of thе dау, аnу dаtа demand wіll warrant that a uѕеr rеmіtѕ ѕоmе EPK. It’ѕ a vеrу еffесtіvе ѕуѕtеm thаt рrоvіdеѕ valuable dаtа fоr AI purposes.

Filecoin is also a decentralized storage network, but still, here is why EpiK Protocol is more recommended than Filecoin.
First, EpiK Protocol has two great innovations compared to Filecoin.
EpiK Protocol not only has the storage capacities of Filecoin, but also adds a collaborative network for AI data processing. This change allows the EpiK network to generate a constant stream of valid AI data for continued value creation in upper layer applications even when the community is fully autonomous.

EpiK Protocol revolutionizes Filecoin’s business model, from selling storage based on a decentralized network to selling AI data in a decentralized manner. The storage market has been saturated since the Internet era, but the demand in the data market is still huge, and the market growth rate is considerable.

Even so, EpiK Protocol and Filecoin are not in competition, and the valid data produced by EpiK Protocol is completely open to the Filecoin community in the hope of building the decentralized storage ecosystem together.
Secondly, EpiK Protocol has the endorsement of the industry’s top advisory group and first-rate investment institution — the data security and stability are guaranteed.

Ben Goertzel, a famous AI scientist, founder of SigularityNET, and chief scientist of Sophia the robot citizen, is an expert advisor of EpiK Protocol, assisting EpiK to promote the data market in Europe and the US and helping to build a high-quality AI data ecosystem.
In addition, the influx of capital from well-known industry institutions: FBG Capital, JACKDAW, 1475, ChainUp Capital, 7 O’clock Capital, etc. has brought decentralized storage of AI data back into the public eye with new momentum.
Third, EpiK Protocol has global partners from the head of each field.

-Open Knowledge Foundation: The world’s largest NGO open-source data organization, which cooperates with EpiK Protocol to label global government open data, promote the open data movement, and explore the direction of open data applications.

-OpenKG: The world’s largest Chinese knowledge graph repository which cooperates with EpiK Protocol to label Chinese mainstream domain knowledge graphs and explore the frontier topics and applications of knowledge graphs together.
-Tsinghua University: The Big Data Knowledge Team of Tsinghua National Research Center for Information and EpiK collaborated to develop the “Health Chain” to promote trusted data collaboration in the medical field. The “Health Chain” was presented at Tsinghua’s 110th-anniversary celebration as an outstanding research achievement.

-SingularityNET: The first decentralized AI service network, creator of Sophia, the world’s first robot citizen, and creator of Grace, an intelligent medical robot, cooperates with EpiK Protocol to focus on labeling AI data needed for universal medical robots, including knowledge graphs and facial expression data.

-Ocean Protocol: The world’s largest decentralized data exchange protocol, working with EpiK Protocol to advance a global decentralized marketplace for AI voice data.
-iMerit: One of the world’s 50 fastest growing technology companies. It is a data annotation company based in India that works with EpiK Protocol to promote efficient data annotation, improve data annotation efficiency and incentive for data annotation practitioners.
-OpenSLR: The world’s largest open Chinese speech data community, working with EpiK Protocol to advance the annotation of Chinese speech data and add more subcategories.
Epik protocol has embarked on its' journey as it aims to broaden the understanding of AI and promote the arrival of the era of cognitive intelligence.