Guides to Blockchain Related Apps
7. Everipedia Encyclopedia Ecosystem
Everipedia is reported to be the world’s first largest open source encyclopedia on a blockchain that allows its users to become stakeholders and earn rewards, tokens and rankings for curating contents. Everipedia platform uses IQ tokens for its incentive model, with a feeless system for importing batch of new contents.
With an incentive model, people from around the world will be more willing to create, provide and share quality and positive contents with the global community. All information and contents found on Everipedia are free for all to access and use, no one will be charged for any information on the website. It was reported to have more than 6 million articles and has been called the expansion pack to Wikipedia.
Everipedia is an open source app developed on the EOS blockchain and has a Proof of Stake (PoS) model which will allow changes and upgrades to be voted with the consensus of Everipedia’s IQ token holders. The Everipedia is a platform that is self-governed by participants, it is neither managed nor controlled by a centralized authority. To put up an edit proposal, users must put up a small amount of IT tokens as collateral. Once the approval for the edit process is completed, the tokens will be returned. This will incentivize users to provide accurate and positive edits against providing spamming or trolling posts. Users can upvote/downvote and comment on specific reference links on a page, this improves article accuracy on the network.
Encyclopedia data is stored in blocks on a blockchain, each with a cryptographically hashed header that points to the previous block, hence data cannot be edited, removed, is censorship resistant and is transparent. Anyone can create contents on anything as long as those contents are properly cited and are in a neutral point of view. Each item can only have one article as well, there cannot be two articles for example Bill Gates and Bill Henry Gates. If user see a duplicate page, they can choose the merge function to combine the two similar pages or notify a Master Editor to do it. The Everipedia team informed that every Wikipedia page is already on the Everipedia platform and is available for its users to improve and build on top of.
Everipedia is reported to have received funding from Mucker Capital and Co-founder of buildzoom, David Petersen. Everipedia received $130,000 as well on Wefunder, a crowdfunding service on 2016 and they were valued at $22 million. On 8 Feb 2018, Everipedia announced that a group of strategic investors led by Galaxy Digital’s EOS Ecosystem fund had invested $30 million on Everipedia.
Everipedia was co-founded by Theodor Forselius and Sam Kazemian in December 2014. Travis Moore joined the Everipedia team as a co-founder and CTO in April 2015, while Suchet Dhindsa joined as the COO on September 2017 and Wikipedia co-founder Larry Sanger joined the team as Chief Information Officer (CIO) in late 2017.