A new Wikipedia-style online blockchain based encyclopedia has just launched and is rewarding users in the form of cryptocurrency for writing and editing content. The new Everipedia platform is built on EOS and rewards users with ‘IQ’ tokens according to a recent press release.
“The new system uses blockchain technology to reward users with ‘IQ’ tokens for curating and editing articles,” reads the press release. “These tokens entitle the token holder to governance and voting rights within the network, essentially making every editor a stakeholder in the network. The goal of the ecosystem is to democratize the traditional encyclopedia model and economically align the incentives of the value creators and value extractors. This model aims to make feasible a fully-autonomous encyclopedia without the need for advertisements or donations. Additionally, the decentralized nature of how the articles are stored using blockchain technology also essentially makes the network un-censorable.”
Everipedia is now the world’s largest encyclopedia built on blockchain technology. The project is headed by Wikipedia co-founder and chief information officer of Everipedia Dr. Larry Sanger. In the press release, Dr. Sanger expresses his belief that blockchain technology is breaking new ground and replacing traditional models in the online knowledge space.
“We are elated to release our minimum viable network which allows users to vote on and create articles in a decentralized manner for the first time,” says Dr. Sanger.
Bringing Online Encyclopedias into the Blockchain Age
The Everipedia project has been in the works since 2015 and has its sights set on replacing the world’s most popular online encyclopedia, Wikipedia. Despite still being in its infancy, Everipedia claims to already be larger and more active in terms of content than its online predecessor.
“Contrary to other wiki sites, Everipedia allows anyone to create a page about any person, place, organization, or thing and populate it with interesting, relevant reference links/sources,” reads the company’s website.
Everipedia offers a clear advantage to users compared to its competitors by offering ‘IQ’ tokens for curating and editing articles. IQ tokens give holders voting rights pertaining to governance issues within the network. Everipedia aims to create a democratized ecosystem for its users, making the platform fully autonomous without the need for advertisements or donations. All content on the platform is decentralized thanks to blockchain technology and is therefore un-censorable. 16.8 million IQ tokens are reported to have already been staked by users on the network.
“Our network launch marks a significant step toward decentralizing the world’s knowledge on the blockchain,” said Everipedia Co-Founder and CEO Theodor Forselius.
“We expect the number of Everipedia editors to only grow with this new incentive model introduced,” added Everipedia COO Suchet Dhindsa.