Effect Mechanical Turk is a marketplace for tasks that require human intelligence. It allows anyone in the world to perform tasks for fair payment. This first phase gives businesses and aspiring AI developers much needed access to a large workforce of human intelligence. The second platform, Effect Smart Market, is a decentralized registry of AI services. On this platform any algorithm can be accessed, and paid for, as a service in a unified manner. The last platform, Effect Power, provides a decentralized, distributed computational platform that can run popular deep learning frameworks.
To solve many of the problems with the current AI market, Effect.AI proposes a private, decentralized ecosystem for AI development and AI related services called The Effect Network. The Effect Network is designed to provide a feature complete alternative to services like Amazon Mechanical Turk, Fiverr, OneSpace and Guru.com. It will operate fully on smart contracts deployed on the NEO blockchain. The Effect Network, like other decentralized applications, directly connects supply and demand without the need for an intermediary party. To be more specific, The Effect Work will establish the following:
•Accessibility – by directly linking supply and demand through our micro-tasking platform Effect.AI M-Turk we enable users who do not have access to large datasets or a big network to train their AI algorithm.
• Accuracy – the Effect Smart Market enables users and individual applications to find each other to buy or sell information. Through this exchange, users can get their hands on data sets with significantly higher complexities to train their AIs.
• Performance – Users can directly buy existing data sets on the Smart Market or quickly create their own data set by requesting micro-tasks on the M-Turk platform.
• Interoperability – By running AI on the blockchain and creating a standard to which algorithms have to comply, we stimulate interoperability resulting in powerful and emergent intelligence that would be difficult to achieve for single AI algorithms.
NEO is a platform that uses blockchain technology and digital identity to digitize assets. Through the use of smart contracts these digital assets can be self-managed. This establishes a Smart Economy on a distributed network. Hence, it’s a smart contracts ecosystem, similar to Ethereum. NEP5 tokens are tokens that run on the NEO blockchain (for instance: RedPulse3 , Qlink 4 and DeepBrain Chain5). NEP5 describes the protocol that these tokens conform to. The Effect.AI EFX utility token will conform to this protocol as well.
EFX and G-EFX
The Galaxy Pool ensures stable exchange rates for users of the network at all times by, among other measures, discouraging day traders. Key in achieving this is making a distinction between Galaxy-EFX (G-EFX) tokens and EFX tokens. G-EFX tokens can be bought. Any G-EFX bought from the Pool cannot be sold back to the Pool. A G-EFX token is cleared (converted to a regular EFX token) by spending it through an Effect.AI Service Contract. These are the service contracts from the tasks and service registry. This protects the Galaxy Pool from external manipulation and keeps exchange rates stable for all agents in the network. Furthermore, to assure Requesters will not have an overflow, G-EFX will gradually expire and return to the Galaxy Pool over time. The Pool compensates the Requester for this by offering a favorable exchange rate for the tokens used to purchase G-EFX.