The last few week, blockchain platform space has been buzzing with the news of Effect.AI moving from NEO to the EOS Mainnet. While multiple articles have been written about the migration to EOS Blockchain, we thought it prudent to speak to share what Effect.AI is all about!

The manufacturing industry throughout time is plagued with myriad of issues like manpower, resources or technology. The Industrial Revolution was the transition to new manufacturing processes in Europe and the US. They are etched in history for the innovative solutions that broke conventions in pursuit of achieving optimal output. It is also credited with the positive social and economic impact on the general population.

The three industrial revolutions can be broadly classified into three categories for their far-reaching contribution to the manufacturing process:

· First Revolution: Mechanization, Water power, and Steam power

· Second Revolution: Mass production, Assembly line, and Electricity

· Third Revolution: Internet, Computers, and Technology

It is widely accepted that the advent of Artificial Intelligence will spearhead the fourth industrial revolution. Regarded as the biggest technological shift, this revolution will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything ever seen and will help achieve the higest levels of efficiency both in the workplace and personal space. However, most resources and talent is controlled by a handful of powerful companies giving unfair advantages to some companies.

Effect AI understands the disadvantages of centralization and aims to use the decentralization platform to share the potential of AI development. With the goal for increased accessibility and affordability, the company setup the Effect Network. The Effect Network allows everyone to gain affordable access to necessary tools for the development, exchange, and powering of AI algorithms. The Network consists of AI related dApps that are connected to the same Smart Contract stack. The Smart Contracts that make up The Effect Network include the EFX token, a staking and governance model and several user directories.

Feature Image by MoonX depicting the Effect AI platform

The roadmap includes building three initial decentralized applications for the development of AI. Developers can tap into the resources available through these dApps, such as a global directory of workers, AI services, and compute resources. Below dApps are currently in development in a phased allotment:

Effect Force: Effect Force is a decentralized micro tasking platform for high quality, human-annotated data that can be used in artificial intelligence models and business processes. The global workforce on-demand can transform text, image, audio and video into customized high-quality training data.

Effect Smart Market: The Effect Smart Market is a peer-to-peer marketplace for artificial intelligence algorithms. It offers a web-based service, a global AI market for all. It is the easiest way to buy, sell and trade AI powered solutions with fast and reliable API access.

Effect Power: The third phase ties it all together by using the blockchain to distribute the processing power needed to run the newly created algorithms over a global network providing an alternative that is more reliable and scalable than traditional server farms

The Medium blog from Effect.AI details the reason and the plan to migrate to EOS. The Effect Network is powered by its proprietary EFX token and the FAQ’s on the official website will provide additional information for all end-users to swap their NEO/EFX token for EOS/EFX tokens.

Effect.AI says this will provide us with what we feel are the best tools and platform to build, deploy, and run The Effect Network. This migration is a boost for the advanced capabilities of the EOS ecosystem that is scalable, secure, technologically advanced with higher TPS and could very well be the catalyst for other companies to follow suit.

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About MoonX

MoonX, the world’s fastest and safest exchange with decentralized ownership, campaigns for one of the 21 SuperNodes of EOS. While existing solutions offer to solve just one problem at a time, MoonX offers a highly secure, useful and easy-to-use product based on the private blockchain. MoonX has raised 29 million dollars in funding within a short period of time and is supported by BCH, DHVC, Everest Link Capital, Fission Capital, PreAngel, NGC, Ledger Capital, Node Capital, DU Capital, NEO, Badwater Capital and other investment institutions.