The artificial intelligence market is growing at a remarkable pace but instead it is becoming increasingly inaccessible with every second that passes. Large corporations such as Google, Facebook and Amazon have directed AI innovation and its development behind closed doors. The EFFECT.IO project introduces a solution through the creation of an open and decentralized network that provides all the existing services within the artificial intelligence market. This project is called the Red Effect (The Effect Network).

The Effect network has no commissions, has a low barrier to entry and provides rapid growth to its users. The platform works on the chain NEO (Blockchain) and is powered by a network of NEP-5 tokens called EFX. The effect of this network will define the future relations between humanity and AI.

"The AI could contribute up to 15.7 trillion dollars to the global economy in 2030."

PwC. 2017 Sizing the Prize

The problem

The AI market will benefit from decentralization due to the high degree of interaction among agents. Currently, most intelligent algorithms are developed behind the closed doors of large corporations, while academic achievements are available to the public. The main reasons that make the practical development of AI inaccessible are listed below:

Data processing: Processing lots of data and finding patterns that provide useful results require a lot of time and money.
Divergent tasks: The need for external applications to complete the most complete algorithms quickly increases the workload.
Computational costs: Developing and training AI is an intensive computational task. Effect proposes a system to train and execute algorithms.

Phases of the project:

Phase 1: The "Mechanical Turk" of EFFECT:

The EFFECT Network allows anyone in the world to perform tasks that are vital for the algorithms to grow and learn. The human agents who perform these tasks will receive an equitable payment within this decentralized platform in exchange for the work they perform. This will provide IA / ML developers and businesses with access to a large workforce worldwide to create the lots of data necessary for learning the AI.

Phase 2: The EFFECT Smart Market:

In the second phase, we build a foreign exchange market where people can offer and buy these AI services.

Phase 3: The Power of EFFECT:

In phase three, it is planned to decentralize and distribute the computational power to execute IA / ML (Machine Learning). This will be a cost efficient way to empower popular deep learning frameworks. •

The Red Effect in Action

The Red Effect will maintain a decentralized exchange market with a stock exchange of tokens to provide liquidity, promote the adoption of the Red Effect and stabilize the tariffs of it. This bag is called Galaxy Pool and consists of a mix of EFX, NEO, GAS, BTC, LTC and other tokens. Several rules will direct the Galaxy Pool towards an equilibrium balance. These rules can be redefined later through a government process.

The Galaxy Pool ensures stable exchange rates for users of the platform at all times. The Galaxy Pool is suitable for daily "traders", as only the Galaxy EFX can be bought or given to the platform's applicants and cannot be sold outside of it. The EFX Galaxy becomes normal and negotiable EFX by spending it through a service contract. These are the service contracts for the tasks and the service record. This protects the Galaxy Pool from external manipulation and keeps exchange rates stable for workers and service providers.

Sources consulted

https://www.comprarmoneda.com/2018/02/EFFECT.AI.html
https://bitcointalk.org/index.php?topic=2905681.0

effect2018

The EFFECT Network: Decentralized network for artificial intelligence