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EpiK Protocol being the world’s first decentralized storage protocol for AI data, has a lot of terms associated with it. A few important ones will be discussed in this article.
The native token of the EpiK Protocol is "EPK," which has a 1 billion-unit supply. It is predicted that full circulation will take 50 years from the start of EpiK’s Mainnet. Only 50 years have passed since EpiK’s Mainnet was launched.
EpiK Protocol is a collaborative knowledge graph platform comprised of 5 core participants: Knowledge Experts (KEs), Knowledge Nodes (KNs), Knowledge Gateways (KGs), Bounty Hunters, and EKP holders that has been jointly built, trusted, and safe decentralized knowledge graph collaborative platform with sharing benefits.
A single user can perform several roles without interfering with each other.
KEs and Bounty Hunters are in charge of providing knowledge, processing unstructured data into high-quality structured knowledge graph data, and preserving data quality, among other things. EpiK’s structured knowledge graph data is stored in a decentralized network by KNs on a continual basis, assuring its availability.
Knowledge graphs are effectively indexed using KGs, making knowledge accessible, tamper-proofing the knowledge graph data by effectively indexing it in the decentralized network, and enabling traceability.
The operation and administration of EpiK’s blockchain ecosystem are the responsibility of EPK holders.
Only KEs are permitted to upload Knowledge data into the system. Information about the KEs will be made public to guarantee data accuracy, and all uploaded data will be traced back to the associated KEs. This puts the work of KEs under the scrutiny of the international world.
KEs are in charge of creating, validating, and uploading knowledge, but producing high-quality data isn’t easy.
The process of information extraction, fusion, and refinement to create knowledge in the Resource Description Frameworks (RDF) statement format is still highly labor demanding due to the limits of automated technologies. Bounty Hunter can contribute to EpiK’s ecology in this way.
To further understand how KEs and Bounty Hunters work together, consider the following scenario: a KE is preparing to process the "Spider-Man" series into a knowledge graph. He will process the information acquired in tiny chunks utilizing the activities listed below.
“Spider-Man may be a fictional superhero created by writer-editor Stan Lee and writer-artist Steve Ditko. He first appeared within the anthology magazine Amazing Fantasy #15 (Aug. 1962) within the time period of Comic Books.
He appears in American comic books published by Marvel Comics, also as during a number of flicks, television shows, and computer game adaptations set within the Marvel Universe.
Spider-Man is that the friend of Peter Parker, an orphan raised in NY City by his Aunt May and Uncle Ben after his parents, Richard and Mary Parker, perished during a plane crash.
Many supporting characters, including J. Jonah Jameson, Harry Osborn, Max Modell, romantic interests Gwen Stacy and Mary Jane Watson, and villains like Doctor Octopus, the Green Goblin, and Venom, joined Lee and Ditko in having the character cope with adolescent difficulties and financial issues.
After being bitten by a radioactive spider, he has spider-like powers such as adhering to surfaces, superhuman strength and agility, and the ability to detect danger with his "spider-sense." He then creates wrist-mounted "web-shooter" devices that fire his own artificial spider-webbing.” (Spider-Man is based on https://en.wikipedia.org/wiki/Spider-Man)
The number of KEs is unrestricted, but new KEs can only be nominated by current KEs. EpiK Protocol Foundation will be the ecosystem’s only KE during the beginning phase.
To become a KE, any community member or group can submit an application to the foundation. Before the EpiK Protocol mainnet 1.0 "Rosetta" starts, the Foundation will release the first round of KE nominations to the community.
The nominee(s) will submit their application to the EpiK Protocol mainnet on-chain. Individuals or institutions who are still in the nomination process are unable to nominate any more KEs.
These persons and/or institutions will proceed to the voting round as soon as they are nominated. There is no voting time restriction. All EPK token holders will be eligible to vote, however voting EPK tokens will be locked and will not be circulated.
Voters can cancel their vote at any moment, however, their locked EPK can only be recovered three days after the vote is canceled.
As a reward for voting, EPK tokens that have been locked due to voting will get a share of a 1% allocation from each block reward, divided in proportion to their locked EPK over the total locked EPK.
Voters can withdraw these rewards at any time without canceling the vote. When a nominee obtains quite 100,000 EPK community votes, he/she will immediately be promoted to a KE, who will then have the privilege to nominate other experts, and have the facility to upload knowledge to EpiK’s Knowledge Vault.
If a KE is unable to maintain a minimum of 100,000 EPK of community votes, he or she will instantly lose his or her KE powers. The knowledge that this fallen KE posted, on the other hand, will stay relevant.
The KEs' returns are proportional to the quantity of knowledge they give. According to the percentage of data supplied, the algorithm will allocate 9% of each block reward to KEs.
If KE supplied data but was reverted to the nomination stage during the award distribution, he or she will not be eligible for the prize.
Only individuals who have submitted data and presently hold the KE titles are eligible for rewards.
At any moment, domain experts can apply to withdraw their own awards from the reward pool. There is a seven-day lock-up period once you ask for a withdrawal. The prizes can be withdrawn to the wallet when the lock-up time has expired.
By default, when the KEs are elected, they will commit to the "EpiK Protocol Knowledge Expert Commitment" rules and regulations established by the EpiK Protocol Foundation.
If KEs break any of the commitment’s principles, such as maliciously uploading garbage data at EpiK’s mainnet 1.0 "Rosetta" stage, their KE status will be revoked with immediate effect by the inspiration.
KEs and bounty hunters work hand in hand to see to the Epik Protocols success. As KEs creates, uploads and validates knowledge, Bounty hunters undergo the process of information fusion, extraction, and refinement to generate knowledge in the Resource Description Frameworks (RDF).
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