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Effect Network: Things You Need To Know About Artificial Intelligence (AI)


Effect Network: Things You Need To Know About Artificial Intelligence (AI)

Effect.AI was created in 2015 by an Amsterdam-based company. The company is developing a decentralized platform for Artificial Intelligence (AI) and other Artificial Intelligence services.

Artificial Intelligence (AI) is defined as the study of “intelligence agent” that is, is any devices that knows its environment and takes actions that maximizes its chances of success at some goals. AI can be found in our smartphones, face and voice recognition, Fingerprints, self-driving cars, etc.

This project to be done is divided into three stages which are Mechanical Turk, Smart Market and Power. Once the three stages have been completed, AI developer and customers will have access to decentralized Marketplace called the “Effect Network”.

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The team behind this development have worked for decades with ITSAVIRUS which have given enough experience in developing a complex technical solutions for big incorporations.

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The Team

Although, the three stages requires no fees and will give fast growth to users.

Now, the first Stage to the project is the decentralized Mechanical Turk (M-Turk) which is a marketplace meant for AI developers and businesses to access a workforce or Human or natural Intelligence to train Artificial Intelligence (AI) Algorithm.

Mechanical Turk creates a dismantled on-demand, scalable and distributed workforce. Requester will be then free to load task and determine the rewards themselves. Based on results gotten from workers, developers will be able to work on their AI Algorithm. The Workers can get paid through Crypto-currency when task is completed. Task that can be done includes image classification, audio transcription, and data labelling.

The Second Stage Is the Smart Market which is an exchange with a rich ontology of specialist Artificial Intelligence (AI) Application. The Individual (Requesters and Workers) Application Would be able to use the application to buy or sell information. Through this exchange, users can data/information set with significantly higher complexities to train their Artificial Algorithm (AI).

The third stage is Power or Decentralized Artificial Intelligence (AI) which gives a decentralized, distributed computational place. The AI power will be based on popular deep learning networks like Caffe, and tensor flow. The decentralized AI will distribute the computation power used to run the algorithm at a global scale by creating a custom framework.

For the maintenance of the liquidity, for the motivation of the adoption, and the stabilize network fees, the Effect Network will create a central pool to serve as an internal exchange for EFX and native tokens. The galaxy pool will consist of EFX and NEO, GAS, BTC, LTC tokens. The galaxy pool would be used where workers are able to sell their EFX token for LTC token while the requesters and networkers would be able to buy EFX token.

So many rules to be used would turn the galaxy pool into a Equilibrium Balance that is supply will meet with demand. The galaxy pool is created remove specific behavior from the market that might keep liquidity, or the ability of requester to balance up users. Also any coins purchased under the galaxy rules is known as tainted coins instead of converting it to EFX token which is washed when it is spent through an effect service contract gotten from the tasks and service registry.

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Token Sales

The effect token would operate fully on contract in the NEO blockchain.

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Token Distribution

Despite so many advantages of using Artificial Intelligence, there are so many problems faced while using it. The problems can be categorized into two which are:

  1. Data processing

This is the first issue concerning the Artificial intelligence. Intelligent Applications carries out tasks that normally makes use of human feedback. Such task involves processing unstructured data and finding patterns that can provide useful information.

  1. Diverging Task

This is an obstacle when developing a complex algorithm which is needed in order to interact with part of the world outside the current domain. For example, a self-driving car will need to learn how to steer the wheel and also needs to learn the road sign.

Even though the disadvantages can be discouraging, there are still advantages of using Artificial Intelligent (AI).

  1. Interoperability

By putting the AI algorithm on Blockchain and creating a communication standard to which these AI algorithm have to follow, only then we can truly decentralized the AI and achieve interoperability among individuals.

  1. Performance

Users can improve their existing database by purchasing services from ESM or they can set up a new data set by creating micro- tasks from the ESM.

Therefore, despite so many disadvantages and few advantages, Artificial Intelligence will definitely continue to improve our world.


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Visit their official website for more information.

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