Billing itself as “the online encyclopedia reinvented for the modern age,” Everipedia has officially introduced its long-anticipated, peer-to-peer, online encyclopedia using EOS.IO technology that rewards users with crypto tokens for providing and editing articles. These “IQ” tokens entitle the holder to voting rights within the network.
Seeing itself as as an alternative to Wikipedia, Everipedia seeks to democratize the encyclopedia model and offer incentives to content providers. Everipedia’s founders claim its decentralized structure makes it impossible to censor the network. The rewards system is designed to provide a more inclusive, fully-autonomous encyclopedia without donations or advertisements.
“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,” Dr. Larry Sanger, Everipedia’s chief information officer who co-founded Wikipedia, said in a prepared statement. He said blockchain technology has made it possible to innovate based on Wikipedia’s model to disrupt online information.
Users only need an EOS account and IQ tokens to create content and vote on iqnetwork.io.
“So far 16.8 million IQ has been staked by users on the network,” said Sam Kazemian, Everipedia co-founder and president.
Theodor Forselius, CEO and co-founder, added that Everipedia will help decentralize global knowledge on the blockchain.
Kazemian and Forselius joined Mahbod Maghadam and Travis Moore in 2015 to create Everipedia as a more inclusive alternative to Wikipedia.
Everipedia already has millions of unique monthly visitors and about 6 million encyclopedia articles, exceeding English Wikipedia in content. The site also millions of unique monthly visitors and more than 8,000 volunteers and editors via social networks such as Facebook, Reddit and Telegram.
Jimmy Wales, founder of Wikipedia, recently said he has reservations about blockchain. calling a bubble with a lot of hype. The Wikimedia Foundation has, however, accepted bitcoin donations since 2014 after the U.S. Internal Revenue Service provided guidance on how bitcoin should be treated for tax purposes.
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