This is a sponsored guide and does not represent investment advice from CryptoCompare. Please do your due diligence when dealing with any Initial Coin Offering and never invest more than what you can afford to lose.
In today's markets, predicting and influencing customers is one of the best ways for businesses to stay ahead of their competition. Businesses will often spend weeks or months doing market research, invest millions and end up dealing with great amounts of bureaucracy in order to find their target audience along with consumers likes and preferences. And after finding their target audience, they still have to find the best way to push their product into the market.
These types of studies can prove themselves hard, time-consuming and extremely expensive, making them accessible only to big companies. You may be asking yourself why. Well, these studies require big funds, for well-trained data scientists and machine learning experts, along with weeks or months of hard work. Each business question raises another one, meaning it will take even more time;
If there are changes to the product, the prediction also changes, and again more time and money.
Endor Protocol - Get accurate results, fast, on your own
So, how can small companies and startups start to get ahead when it comes to gathering this type of relevant information? The Endor Protocol protocol offers the perfect solution for individuals and small or medium-sized businesses. It gives them the possibility to have access to this type of technologies and studies at a much faster rate and for a lower price.
The Endor Protocol prediction platform focuses on the prediction of short and medium-range behavioral patterns (days to weeks), detecting more signals before they become observable by other available technologies. Their predictions are based on the collective analysis of the contributed data and allow the owners to control the privacy of their data.
Endor Protocol would then expand the selection of predictions it caters to by allowing users to send Requests For Predictions (RFP) – suggesting new types of predictions, that would be implemented and become available for purchase.
They would also allow the integration of new data sources which would increase the prediction accuracy.
This prognosis would be accessible for purchase using the platform’s EDR token.
How does Endor Protocol work?
The Endor Protocol Protocol is based on the fact that the traditional process of Data Science can (finally) be broken down into its basic components, allocating each of them, in a decentralized way, to different executors. The white paper reads:
“In order to transcend these limitations, a new Science had to be developed. Social Physics, developed by Endor Protocol founders Dr. Yaniv Altshuler and Prof. Alex “Sandy” Pentland, is a mathematical theory that efficiently models the way human crowds behave. Through a set of mathematical equations that are shown to emerge in behavioral data sources, the Social Physics theory enables the automatic transformation of any behavioral data source to a set of behavioral clusters. This requires no cleaning, pre-processing, or understanding of the semantics of the data (or the questions to be asked). This collection of behavioral clusters is known as the “Knowledge Sphere”
Instead of building a model per each predictive question, Endor Protocol used Social Physics to build one ”Social Sphere” (groups of objects, who are NOW acting similarly and are being refreshed upon need) of human behavior capable of being asked unlimited predictive questions. This enables the democratization of predictive science.
This results in a system that allows learning from numerous orthogonal data sets, it then continuously identifies millions of dynamic behavioral patterns that trigger binding objects together within the Social Sphere.
Following is the basic outline and main components of the Endor Protocol Protocol:
Canonic Data Representation: Every data contributed to the Endor Protocol network gets transformed into the “Knowledge Sphere”. Once data undergoes this transformation the various behavioral clusters extracted from it can then be bundled together with clusters from other types of data, resulting in an efficient and automatic prediction process.
Separation of Data Providers: As data gets transformed into the “Knowledge Sphere”, data providers are no longer required to actively take part in the later phases of the analysis. This enables data-owners to integrate their data and maintain the quality of their data, controlling who will have access to which part of it, and benefiting financially from the future value it provides.
Separation of Prediction Engines: A known secret among data scientists is that around 90% of the time spent in a data science project is spent on data sanitation and preprocessing. Due to the revolutionary aspect Social Physics that for the first time automates these steps.
Decentralized Execution: Using Blockchain for each prediction, the best behavioral cluster is chosen by the Endor Protocol prediction code.
Data Sovereignty: Every data element that is contributed to the Endor Protocol network can be flagged as either “public” or “private”. Public data sources are accessible to every prediction engine, being a source of behavioral clusters for any future predictions. In return, their providers are being compensated with EDR tokens when they are selected by the Protocol. Private data elements are still accessible by the various prediction engines, albeit in an encrypted way.
Accountability and Censorship Resistance: Using Blockchain, predictions are stored indefinitely, and are accessible by anyone interested in deducing the reputation of the platform, the data used in it, or the prediction engine that analyzed it.
Prediction Efficiency for All: This is based on the automatization of the process (saving the need to employ expensive full-time data scientists), and the ability of Social Physics to seamlessly ‘fuse’ together with various types of behavioral data sources. This means that even large commercial customers, such as Coca-Cola, would be able to immediately benefit from migrating to the Endor Protocol network – by flagging their data “fully private” they could be offered predictive insights that are based on the fusion of the proprietary data, fused together with public data that was contributed to the system, and pay a significantly lower fee than the alternative cost of obtaining this data on their own, and analyzing it. This also offers a positive network effect – lowering the cost as more users and data providers join the Endor Protocol network.
Data providers are required to pay EDR tokens for the analysis of their data, to the providers of prediction engines. They are, in turn, being rewarded EDR tokens when insights derived from their data are being used for predictions. This incentivizes the contribution and maintenance of high-quality data streams.
Token & ICO
The EDR tokens issued by Endor Protocol are ERC20 compliant tokens and are to be utilized as the payment mechanism for a variety of services offered by the Endor Protocol ecosystem.
Usages of the EDR tokens :
- Purchasing pre-defined or DIY predictions;
- Payment for data providers
- Cloud resources for data analysis (AWS or similar)
- Cloud resources for personalized prediction (AWS or similar)
- Submitting RFPs (Request for Predictions)
- Requesting QOS preference for predictions
- Submitting new data streams for the platform
- The Winning Poker Network - A Cryptocurrency Pioneer Sponsored
- How to Deposit With Cryptocurrencies on the Winning Poker Network Sponsored
- Dynatiq - ICO For Blockchain Based Marketplace For Domains and Websites Sponsored
- BlockChain Terminal: Institutional Grade Cryptocurrency Platform Sponsored
- What is El Petro and What Does it Mean for the World
- Why Are Gaming Companies Looking at Blockchain Technology?
- CryptoCompare Portfolio FAQ
- How to use MyEtherWallet