Payment in IQ. Online encyclopedia Everipedia will switch to blockchain

Larry Sanger is best known as one of the co-founders of Wikipedia. He created the underlying principles of the Wiki community and also came up with the very name of the encyclopedia. Today, Sanger is among...

Larry Sanger is best known as one of the co-founders of Wikipedia. He created the underlying principles of the Wiki community and also came up with the very name of the encyclopedia.

Today, Sanger is among the main critics of the most popular online encyclopedia. In his opinion, one of the main problems of the modern Internet is the centralization of information and the control by a fairly small number of players. In the current reality, it may be beneficial to combine inaccurate and unreliable information. Sanger condemns the anti-elitist approach adopted in Wikipedia: because of it trolls and experts can be on an equal footing in the community.

In order to change the approach to organizing the online encyclopedia, Sanger joined the Everipedia project as an information director. Everipedia appeared in 2014 and was originally conceived as a decentralized online encyclopedia.

By 2017 Everipedia had become quite popular, but so far only as an English language encyclopedia. There are 2 to 3 million unique users and an average of 3.5 to 5 million page views on the Everipedia.org site every month.

Now Everipedia will translate the process of creating, editing, and storing articles into blockchain. The encyclopedia will use smart contracts based on EOS. Such an approach will improve the quality of materials and will encourage the authors and editors to use cryptocurrency tokens.

Team Everipedia believes that it will be able to develop a site that will be the next step in the evolution of online encyclopedias.

Instead of a centralized network of servers, the content will be hosted - just like the Bitcoin payment system. Everipedia explored a number of platforms for placing smart contracts based on Ethereum in order to avoid problems with overloaded information blocks.

In the end, however, the start-up decided on a combination of EOS blockchain and interplanetary file system (IPFS) - a specialized peer-to-peer protocol for content transmission, including video and images.

IQ tokens for internal settlements will also be based on EOS. There will be 100 million IQ tokens, 50% of which will be distributed in the ICO, through which the team is going to finance the transition to blockchain. Another 30% of the tokens will be used to pay for editing and validation of materials. The remaining 20% will go into development.