Epik Protocol, the world’s first decentralized storage protocol of AI data
The dilemma of the decentralized storage ecosystem
The whole decentralized storage ecosystem has witnessed an unparalleled surge because of Filecoin’s disruptive innovation. However, as the number of practitioners and devices grows year after year, the decentralized storage ecosystem (hence referred to as “ecosystem”) is confronted with a conundrum:
A significant quantity of physical storage is squandered, and the ecosystem is devoid of useful data. The provision of nonsensical data is permitted and even encouraged, resulting in an abundance of useless data in the ecosystem. Due to a lack of an adequate sensitive data review process, the storage service is not available to clients. As a result, the ecosystem service provider’s sole option is to expand its commercial customer base.
The business model for delivering archive data storage services has not been validated in the present environment. Despite the lower prices, the decentralized storage provider is still unable to compete with equivalent services offered by centralized Internet behemoths; performance and credibility must be assessed over time.
Following more conversation, we discovered that the benefit of decentralized storage technology based on blockchain is not in offering more capacity or greater privacy, but in giving an unparalleled ability to exchange trustworthy data without the need for a trusted third party.
There was very little data that we could honestly share based on Ethereum before the introduction of decentralized storage, and the data was costly.
We can theoretically have an endless quantity of trustworthy shared data with the introduction of decentralized storage, with the aid of IPFS technology. Is there any other type of data that has such a high business value? We feel that AI data is deserving of its moniker.
The dilemma of the AI data ecosystem
The worldwide AI market is expected to reach $3 trillion by 2021, with a 20% annual growth rate. Every year, 15 percent to 30 percent of the capital in the AI industry is invested in data labeling, and the scale of this sector is expanding at a rate of 30 percent each year. It can be shown that the quality of the data utilized for AI training, rather than algorithm innovation, is the key to AI intelligence. The AI Data business is experiencing many restrictions as a result of the fast growth in data demand. Such as:
Rising labor costs: Data is getting increasingly specialized in nature. Labelers’ knowledge base is being pushed farther, from recognizing voices and images to labeling data from diverse areas such as healthcare, finance, and education.
Rising management costs: Data-labeling firms are unable to claim data ownership or participate in the data’s future realized advantages. They can only rely on labour to sustain present cash flow, which leaves little potential for growth and appreciation.
Because of increased competition in the sector, most labelling firms are unable to function at full capacity, resulting in a longer period of unemployment for employees.
Gameloft will launch its first-ever NFT activation, powered by Epik Prime, for an in-game tournament on Asphalt9: Legends. (Photo courtesy of Business Wire)
Gameloft will launch its first-ever NFT activation, powered by Epik Prime, for an in-game tournament on Asphalt9: Legends, the latest installment in the Asphalt racing franchise, which just surpassed the 1 billion download milestone.
Since July 5th, players have been contesting for limited-edition digital items and special prizes (NFTs).
Epik’s blockchain-powered features provide companies with a low-risk way to enter the NFT market by licensing their intellectual property and generating unique digital assets for sale. Epik has developed a one-of-a-kind NFT solution that allows any brand to be displayed in games. This customized in-game experience was created in collaboration with Epik and Gameloft for companies.
Epik has chosen to include its own brand as the in-game advertising as their first venture into this technical cooperation. This cooperation is a significant step forward for the general adoption of blockchain technology and an exciting event for the whole mainstream gaming and collectibles sector.
“Epik is ecstatic to be collaborating with the renowned Asphalt brand for the first Gameloft NFT activation through its newest game, Asphalt 9: Legends,” says Epik CEO Victor David. “By collaborating, we’ll demonstrate how NFTs may be directly integrated into games to create new immersive digital experiences for gamers.”
Epik has made something feasible that has never been done before, opening up whole new doors not just for the blockchain business, but also for the gaming industry, allowing big gaming firms to connect with their audiences in a completely new way. Limited edition collectibles are shared with dedicated fans and communities so that they can have something to take back to their virtual homes and keep or trade for years.
The NFT technology from Epik improves the user experience by eliminating the delay that comes with public blockchain transaction confirmations. Epik lowers the frequency of on-chain transactions by employing a hybrid on-and-off chain solution in which transactions (purchases, transfers of products) are done off-chain in real-time, resulting in reduced gas and energy use for every transaction that occurs on the Epik system.
Only when a user needs to transfer an NFT item out of the Epik system, such as to a cold wallet or another marketplace, does an on-chain transaction occur?
Epik also makes use of Huobi’s ECO Chain (HECO) HPoS consensus mechanism, which ensures cheap transaction costs, minimal transaction delays, and high transaction concurrency while still being environmentally friendly. HECO Chain is an EVM-compliant public chain that provides a low-cost and fast on-chain environment for DApps, smart contracts, and digital assets such as NFTs.
About Epik Prime
Epik Prime combines together the world’s most well-known brands and most popular digital platforms to provide millions of fans across the world with genuinely unique and immersive digital experiences.
Thousands of companies use the company’s unique and highly coveted digital collectibles, such as NFTs, to expand their reach, improve fan interaction, and generate new revenue options.
Viacom, Warner Music, Garena, Tencent, and Universal are among the companies involved. Epik’s unique platform and partner ecosystem are fast-growing, and it’s quickly becoming the go-to place for worldwide companies looking to diversify their revenue streams.
About Gameloft for brands
Gameloft for brands provides marketers with a unique degree of visibility and engagement with their consumers, with a monthly audience of 250 million active players, 300 million impressions, and each user spends an average of 27 minutes each day playing.
All of the above-mentioned trademarks are held by their respective trademark owners.
Epik Protocol, the first “AI Data + decentralized Storage” solution in the world
The AI data labelling industry’s problem has two common solutions: the sharing economy and the odd job economy. The odd job economy entails using crowdsourcing to classify data, and the sharing economy entails assisting those who provide data to earn money from data cashing.
Both are ideal areas for the use of trustworthy data sharing capabilities, and both are solutions that decentralized storage excels at developing.
The large market for AI data can fill this need, as decentralized storage necessitates a long-term and effective data generation process.
The AI data market requires a platform to conduct a sharing economy; decentralized storage’s robust data authentication capabilities can solve this challenge.
The AI data labelling system supplied by Epik Protocol labels data from various data sources, and people who engage in data labelling and data acceptance can earn EPK.
Accepted data is saved in Epik’s AI data storage system for decentralized storage, and devices that participate in data storage can also receive EPK. When the application wants to access the data, it pledges EPK to do so.
The EPK acquired for data donation is really the data’s equity. The need for EPK rises in tandem with the demand for data. The EPK’s value will rise, and the EPK holder will gain.
How to participate in Epik Protocol
The Epik Protocol is divided into two primary systems:
1. AI data annotation
2. AI data storage
The first is to become an EPK bounty hunter by participating in AI data annotation. Spending roughly an hour each day on data annotation, which is required in several AI disciplines. You will earn more EPK as you complete more activities.
You may also gain a knowledge badge NFT by answering questions, which you can use to engage in EPK airdrop events in the future. Now you may earn a 30% discount on Level 1 and a 15% discount on Level 2 if you bring your friends to participate in AI data annotation. Please visit epikg.com and download the APP for additional information.
The second option is to take part in AI data storage by becoming an EPK storage node. Using idle storage devices, you may contribute to the storing of legitimate AI data. You will earn more EPK if you store more data. You can receive a bonus for offering data-downloading services if you have a public IP.
Now that the Epik Protocol main-net is up and running, you may set up your computers to participate in the early bird stage of mining and get a nice reward. Please see the wiki for machine configuration tutorials for more information.
The Epik System is the world’s first decentralized AI data storage protocol. It provides a worldwide open autonomous community with four main capabilities of trusted storage, trusted incentives, trusted governance, and trusted finance through the combination of IPFS storage technology, Token incentive mechanism, and DAO governance architecture.