Endor.coin is a project that was established to provide its users with an access to artificial intelligence data analysis. The platform utilizes blockchain to make the network censorship-resistant, fast, trustless and accessible. The ultimate goal of the project is to build a Google-like search console for AI-based predictions.
Endor Protocol review
Endor is founded by Prof. Alex Pentland from MIT and is currently managed by Yaniv Altshuler - the CEO of Endor. The team of the project was composed of a some of the best data scientists in the industry. Most of the team members are also connected to MIT, being members and employees of MIT’s Computer Science and Artificial Intelligence Lab, Media lab and Sloan School of Management. The company is located in Tel Aviv, but the sales and business development departments are operating in US.
The Endor Protocol team managed to get an impressive record of clients and partners. Some of the Endor Protocol clients are Mastercard, Coca Cola and Walmart. The company received investments from Berkshire Partners, Monumental Capital Group, Pejman Mar ventures, etc. Some of the company’s partners are Bancor, ORBS and DAOstack.
The main problem that was chosen as a field of work of the Endor Protocol project is the lack of careful and productive data maintenance. It is said in the Endor protocol white paper that there is a large demand on the effective prediction mechanism and data analysis. However, modern solutions are not accurate enough to satisfy the demand. In addition to that, almost every prediction is designed specifically for stakeholders of large companies and are very expensive for middle-sized businesses and non-corporate customers.
In order to maintain the accessible and affordable data science platform, the Endor Protocol team decided to establish a free-to-use platform that would allow the data producers to freely upload data (both public and private) and technology experts to provide the platform with their open source solutions.
Furthermore, the platform needs to have additional scalability capabilities. In order to maintain large amounts of processed data, the platform should have significant data storage space and computing power. The blockchain technology turned out to be the best solution to establish such platform without losing its affordability. Decentralized nature of the future platform also helps to provide in with censorship-resistance and protection from third-party attacks.
The Ednor.coin protocol is largely based on the Social Physics concept - a concept, developed by Prof. Alex Pentland to predict the behavior of human crowds. The technical approach to the Social Physics concept resulted in the establishment of the Knowledge Sphere clusters. The Knowledge Sphere allows large data science manipulations to be broken down is multiple iterations, that allows for decentralized computation.
The Endor Protocol team’s approach to blockchain is a little different from the common blockchain implementations. The Endor Protocol white paper mentions that blockchain-based data storage of the project is designed in the specific approach. The Endor blockchain collects data references, but not the data itself. Private data is AES-256 encrypted before being uploaded on the network.
The platform provides several smart contracts to interact with it. They are
These smart contracts are basic ways to use platform and are referred to as “primitives” by the Endor Protocol team. Primitives are not the only way to use the Endor network, more complex ways will be possible to design privately.
The blockchain of Endor Protocol is not capable of handling heavy data transactions, and, therefore, computing tasks. All the necessary computations are performed off-chain and only the results of the computations are broadcasted via the blockchain. Computational tasks will be paid for in the EDR token - the native token of the network.
Token and ICO
Endor Protocol (EDR) is a utility token. It is ERC-20 based and can be traded and used with the Ethereum-compatible cryptocurrency wallets. The Endor Protocol token will be primarily used for payments for data operations. However, it will also be a part of business model for prediction methods builders and providers of cloud-computation resources.
The Endor Protocol token ICO happened on February 19, 2018 and Ended on March 14, 2018. The fundraising goal was 45 million dollars, all of which were gathered during the token offering. The sale was only performed for private investors.
Endor coin price
The price of EDR token or Endor coin is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin360 widget.
At the time of writing this article, the Endor Protocol token is currently listed on the following exchanges: