The digital asset that powers
EFX is the cryptographic token that fuels The Effect Network. It offers developers and organizations a reliable option to build, monetize and power AI solutions. EFX can be earned or bought and can be used in a decentralized ecosystem of AI related services.
For AI Development
Organizations use EFX to transact between a global human workforce to structure and enrich vast amounts of data on the Effect Force platform. Effect Force is the first decentralized micro-tasking platform for AI development.
For the Exchange of AI Services
AI developers accept EFX in exchange for their algorithms and AI related services on the Effect Smart Market. The Effect Smart Market is the first decentralized marketplace for AI powered apps.
For Computational Resources
Organizations use EFX in exchange for computational power to run their Deep Learning Frameworks with Effect Power. Effect Power is a distributed super-computer that any organization can tap into to run their AI framework without a single point of failure.
There are several ways to earn EFX
Perform tasks on the micro-tasking platform Effect Force
Offer a gateway to an algorithm or AI solution you have created on the Effect Smart Market
MORE INFORMATION COMING SOON
Rent out extra CPU/GPU to Effect Power. Your contribution will be part of the distributed pool that organizations can tap into to run Deep Learning Frameworks
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EFX holders can stake tokens to improve their rank in The Effect Network. Achieving a high rank has many benefits, like vote casting, reward collection, and gaining privileges on the dApp level. All ranks are accompanied with a degree of responsibility in the Network and users are held accountable for their actions with the risk of losing their stake position – their value and the associated privileges. This means staking can be seen as a proof of commitment and is used as a primary quality measure in the network.
The Effect Network is governed by a democratic process where users can vote on key aspects of the network. The most important topics are the configuration of smart contracts and the allocation of Galaxy Pool funds. On the highest level is the Effect Council, its members are allowed to initiate new voting topics and have the highest voting weight.
The TEN Protocol
At the core of The Effect Network (TEN) is a smart-contract based protocol.
Developers are able to use the protocol to create their decentralized AI related services. This is an easy way to gain access to the directory of users, algorithms and compute nodes and the related staking and governance mechanisms of TEN.
TEN is powered by the EFX token and governed by the Effect Council.
Updated Version Coming Soon
The Galaxy Pool
The source of reward distribution and liquidity
A stability and liquidity DEX coupled to more stable currencies. Exclusively to service the users of The Effect Network.
Fees from the The Effect Network will be collected and processed in the Galaxy Pool. This pool will be periodically diversified, distributed or burned depending on the Council policy.
The Galaxy Pool covers transaction costs and staking requirements of the host blockchain for connected applications.