Effect AI (old) PriceEFX

What is Effect AI (old) (EFX)?

Effect AI (old) (EFX) is the legacy token of Effect.AI, a decentralized platform for Artificial Intelligence that operates without commissions. Positioned as the first blockchain-based framework for the Future-of-Work, the project aims to democratize the field of AI through a decentralized network, using data science teams to structure data and deploy AI automation. The token runs on the Vaulta platform and also exists as a BEP20 contract on BNB Smart Chain. The maximum token supply was set at 650,000,000 EFX in the updated white paper released on Feb. 22, 2018, with a circulating supply of approximately 252,168,527 EFX. The project has migrated from its old contract to a new contract, and this asset is tracked as Effect AI (old) or Effect AI [OLD].

Key Specifications & Tokenomics

• Name: Effect AI (old)
• Ticker / Symbol: EFX
• Platform / Blockchain: Vaulta platform; BNB Smart Chain (BEP20)
• Contract Address (BNB Smart Chain / BEP20): 0xc51ef828319b131b595b7ec4b28210ecf4d05ad0
• Category: AI & Big Data, EOS Ecosystem, BNB Chain Ecosystem
• Maximum tokens generated: 650,000,000 EFX
• Total Supply: 650,000,000 EFX
• Circulating Supply: 252,168,527 EFX
• Start Date: April 23, 2018
• Official Website: https://effect.ai
• Whitepaper: https://effect.network/download/effect_whitepaper.pdf
• Block Explorer: https://bscscan.com/token/0xc51ef828319b131b595b7ec4b28210ecf4d05ad0
• Code Repository: https://github.com/effectai

Who created Effect AI (old)?

Effect AI was co-founded by Chris Dawe, who serves as Co-Founder and CEO. He is described as a second-time founder and was a founding member of a past company, along with developing and producing AI. He has been interviewed publicly, including by Ashton Addison and in an exclusive interview with ChipIn about AI developers. Beyond the CEO, detailed public information about the wider core team is currently limited.

How does Effect AI (old) work?

Effect.AI operates as a decentralized platform for Artificial Intelligence that requires no commissions. It is described as the first blockchain-based framework for the Future-of-Work, designed to democratize the field of AI through a decentralized network. The project uses data science teams to structure data and deploy AI automation. Effect Network, the broader network associated with the project, is described as a type of digital crypto currency that utilizes peer-to-peer transactions, mining and other technological feats into a modern day asset. The EFX token functions within this decentralized AI ecosystem on the Vaulta platform and as a BEP20 asset on BNB Smart Chain.

What makes Effect AI (old) unique and valuable?

Effect AI distinguishes itself through its mission to democratize the field of AI via a decentralized network, removing commissions from the platform. Its positioning as the first blockchain-based framework for the Future-of-Work gives it a distinct identity within the AI and Big Data category. The project combines data science teams with AI automation deployment, bridging structured data work and decentralized infrastructure. Its association with the EOS Ecosystem and BNB Chain Ecosystem further extends its reach across multiple blockchain environments, while the migration to a new contract reflects an evolving technical foundation.

What is Effect AI (old) used for?

EFX serves as the native token of the Effect.AI decentralized platform for Artificial Intelligence. It is used within the network to facilitate peer-to-peer transactions and support the platform's AI-related operations, including structuring data and deploying AI automation through data science teams. As a digital crypto currency within the Effect Network, it enables participation in the decentralized ecosystem that requires no commissions. The token also functions as a BEP20 asset on BNB Smart Chain and operates on the Vaulta platform, allowing holders to interact with the project's framework for the Future-of-Work.

How Is the Effect AI (old) ecosystem developing?

The Effect AI ecosystem has undergone a significant structural change, with the project migrating from its old contract to a new contract. This asset continues to be tracked as Effect AI (old) or Effect AI [OLD]. The project maintains an active code repository on GitHub and provides a whitepaper and light paper, with the first revision released on Feb. 22, 2018. Educational coverage has continued, including a publication by HTX on April 2, 2024 titled "What Is Effect AI (old) (EFX)? Use Cases, Mechanism & Risks." The token trades on 21 active markets and is listed across numerous data platforms, though its market cap ranking remains outside the top tiers.

How to mine Effect AI (old)?

Effect Network is described as utilizing mining among the technological feats that form its modern day asset structure. However, detailed public information on specific mining or staking mechanisms for EFX is currently limited. The token was generated with a maximum supply of 650,000,000 EFX, and its distribution is tied to the project's historical token generation event rather than an ongoing inflationary mining model. Prospective participants should consult the official whitepaper and project channels for any updated guidance on network participation.

How to keep your Effect AI (old) Coin safe?

Because EFX exists as a BEP20 token on BNB Smart Chain, holders should use wallets that support BEP20 assets and verify the contract address 0xc51ef828319b131b595b7ec4b28210ecf4d05ad0 before any transaction. Always double-check addresses and avoid sharing private keys or seed phrases. Given the project's contract migration, confirm you are interacting with the correct token contract. Note that EFX has retreated by -99.96% from its all-time high and is considered high-risk with significant uncertainty, so investors should apply strict risk management, store holdings in reputable self-custody wallets, and remain aware that crypto-assets carry extreme volatility and the potential loss of entire capital.