Effect.AI
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MarketPairPriceVolume 24H24H (price)24H (volume)
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Bitmart
EFX/ETH 28 minutes ago$ 0.0054$ 536.80-4.69%-4.69% -
Bitmart
EFX/BTC 28 minutes ago$ 0.0054-31.84%-100.00%
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Switcheo
EFX/NEO one hour ago$ 0.0050$ 193.01-0.87%256.13% -
LATOKEN
EFX/ETH 2 days ago$ 0.0068--- -
Switcheo
EFX/SWTH 29 days ago$ 0.0068---
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Switcheo
EFX/GAS one month ago$ 0.0052---
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Aphelion
EFX/NEO one month ago---- -
Aphelion
EFX/GAS one month ago----
About Effect.AI
Our project introduces an open, decentralized network that provides services in the Artificial Intelligence market. This project is called The Effect Network.
The 3 phases of The Effect Network require no fees, have a low barrier of entry and provide fast growth to its users. It runs seamlessly on the NEO blockchain and is fueled by a network NEP-5 token. The effect of this network will define the future relationship between humanity and AI.
Features
EFFECT Network introduces an open, decentralized network that provides services in the Artificial Intelligence market.
The 3 phases of The Effect Network require no fees, have a low barrier of entry and provide growth to its users. It runs on the NEO blockchain and is fueled by a network NEP-5 token:
Effect Mechanical Turk is a workforce on demand that allows to request or perform tasks that teach and develop AI algorithms.
The Effect Smart Market is a decentralized exchange where people can offer and buy AI/ML services and algorithms.
In the last phase the computational power is distributed needed to run deep learning frameworks and other AI algorithms.
Effect.AI Roadmap
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Q1 2017
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Start of Effect.AI
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Phase 1 - EFFECT Mechanical Turk
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The first phase of The Effect Network will be an interactive marketplace for tasks that require human intelligence. A Decentralized Mechanical Turk (M-Turk). It allows anyone in the world to perform a wide range of tasks and receive fair payment. It will give AI developers and businesses access to a large workforce of human intelligence to train AI algorithms. When a worker completes a task, they are paid with with a network NEP-5 token.
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Q3 2017
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Whitepaper released. First meeting with NEO in Shanghai
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Phase 2 - EFFECT Smart Market
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The Effect AI Smart Market is a decentralized platform where people can offer and buy AI services. This phase is a natural progression of the network. It will be an open marketplace for offering AI Algorithms as a service. This marketplace or exchange is where AI developers with a functional Algorithms can sell, rent or give out its service for a simple and easy payment with the Effect token. Each Algorithm will have its own wallet to allow for easy acceptance of transactions. Also within this marketplace, Algorithms have the ability to communicate and collaborate with other algorithms and and purchase services from each other.
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Q3 2017 - Q1 2018
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Community building and platform development
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Phase 3 - EFFECT Power
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The last phase provides a decentralized, distributed computational platform that will run popular deep learning frameworks. The Effect decentralized compute engine is based on popular deep-learning networks like Caffe, MXNet and Tensor flow. We want to distribute the computational power of all AI so there is not this one point of weakness. We can do this through partnerships with projects like Golem with their Super computer or create the framework ourselves.
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March 2018
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Token crowdsale
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Q2 2018
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Supernova (Galaxy pool creation)
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Q2 2018
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Effect Mechanical Turk (Beta on NEO)
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Q1 2019
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Effect Smart Market (Platform release)
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Q4 - 2019
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Effect Power (Framework release)
Team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Effect.AI Reviews
Opportunities:
A lot of Human Intelligence Tasks can be performed by people without specialized skills. Therefore, even the unbanked in any countries can work on The Effect Network whereas they cannot become a worker on other centralized platforms because they don’t have a way to receive compensation.
According to the team’s projection, workers on The Effect Network can earn $9/hour on average while they can only earn $2/hour on current centralized platforms.
The project is ambitious but is a logical progress. The transition from phase 1 to 3 makes sense and each phase builds on top of the previous one. EFX tokens should have plenty of usage even when only phase 1 is launched.
Concerns:
The team is on the younger side and most members have relatively little working experience. It is unclear whether they can handle the development intensive project.
The team has not disclosed any advisor which is very uncommon.
The project has not released an Alpha/MVP yet, which makes it a white paper project.
Conclusion:
Overall, we are neutral about the ICO’s short-term potential but like its long-term potential. Our thoughts of the tokens for short term and long term are as follows:
For short-term holding:
Neutral. The idea is great and the hard cap is low. However, the team will not actively reach out to exchange for the listing of EFX tokens. Considering that EFX is a NEP-5 token which very few exchanges list, it might have a hard time generating liquidity initially.
For long-term holding:
Good. The project has a lot of potential even with just the first phase completed. By eliminating the middleman, workers can earn substantially more and receive payments instantly with the use of cryptocurrency. If successful, this project can provide lots of real-world benefits which we very much support.
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