Everipedia Launches Blockchain Encyclopedia With ‘IQ’ Tokens

Everipedia, the blockchain counterpart to Wikipedia, launched its long-awaited peer-to-peer encyclopedia using EOS.IO technology on Aug 9. The new system functions on the EOS network and users are rewarded with “IQ” tokens using the blockchain technology for writing or editing articles.

Source: iqnetwork.io

The tokens are based on the blocks in the block chain technology which essentially makes every user a stakeholder in the network. These tokens give the holders voting and governance rights, which is a step towards democratizing the traditional encyclopedia model and to align the incentives of the value creators and extractors economically. The aim is also to make it a fully-autonomous encyclopedia which doesn’t require donations or advertisements to function.

Larry Sanger, CIO Everipedia and Co-Founder Wikipedia said in a press release, "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.”

Source: iqnetwork.io

Back in December last year, Sanger joined the blockchain startup with a goal to disrupt his own creation. According to him, the issue confronting online information was that it was centralized and controlled by a few players, and this startup was a way through which they were going to change that.

Although the “IQ” tokens are viewed as one of the biggest challenges facing the project by some, Everipedia COO Suchet Dhindsa said that with the new incentive model introduced, they expect to see a growth in the number of Everipedia editors.

Everipedia already has more articles than Wikipedia, about six million, along with millions of unique monthly visitors. Users may visit iqnetwork.io to begin creating content and voting on the network.