News Everipedia Thinks Blockchain Will Boost Its IQ – ThirtyK

Everipedia Thinks Blockchain Will Boost Its IQ – ThirtyK

-

- Advertisment -

Wikipedia co-founder Larry Sanger thinks blockchain can build a better online encyclopedia.

Sanger, who left Wikipedia in 2002, is now chief information officer of Everipedia, which last week launched its IQ Network on the EOS blockchain. The company aims to use its new IQ tokens to reward contributors who edit content as well as give them a stake in the network. This week, the company is working to fully integrate the blockchain with its existing encyclopedia.

Everipedia’s contributors aren’t in it for the money; they want recognition and a sense of serving the community. The IQ tokens are a measure of that.

The problem that spurred formation of the IQ Network became evident during Sanger’s time as a co-founder of Wikipedia, he tells ThirtyK. “The millions of dollars the Wikimedia Foundation collects do not generally trickle down to the rank-and-file, the contributors,” he says. “If there was a way for them to become co-owners of an encyclopedia and mine tokens by writing encyclopedia articles, that would be more fair and more motivating.”

Token Awareness

To create awareness of the new IQ tokens, Everipedia airdropped, or gave away for free, 5.1 billion of its 10 billion tokens to EOS token holders on July 12. Everipedia will use the remaining 4.9 billion IQ tokens it still holds to fund operations, its past investors, future partnerships and, possibly, further airdrops.

Currently trading for about one and a half cents each, the IQ tokens have a miniscule monetary value. But Sanger says the company’s contributors aren’t offering their services to make money; they want to gain recognition and a sense of serving the community. The IQ tokens, he says, are simply a measure of that and will be awarded for approved articles or edits based on the number of votes received approving the content.

The tokens’ real value is in the voting rights they confer, “not over Everipedia, Inc., but over the rules that govern the Everipedia Network,” Sanger says. Therefore, contributors have some input into how edits to the site’s source code may be proposed, which affect research and development and how the network scales up. They also confer rights to determine which edits are ultimately included on the network.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the modern era as of yet. Luckily, there are tools to...

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether is one of the oldest altcoins and probably the most...

Banking Sector is Ready for a Tech Revolution With Cryptocurrency

When our world is going through a massive change due to COVID-19blow, it is very likely that...

OpenDAO’s Bridge Opens New Possibility for Mass Adoption of DeFi

When Satoshi Nakamoto officially created Bitcoin on January 3, 2009, his vision for the digital asset was...
- Advertisement -

Crypto’s price surge was mostly due to limited information – here’s why

As the world becomes more and more digitized, the usage of one of the most popular cryptocurrencies,...

U.S. Authorities Seized Bitcoin Worth a Total of $1 billion

The cryptocurrencies were in the possession of a person who had hacked Silk road, which was detected...

Must read

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the...

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether...
- Advertisement -

Read Next
Recommended to you