The new project that is now a direct rival to the biggest online encyclopedia out there, Wikipedia, has officially introduced its long-anticipated online encyclopedia that uses the EOS.IO technology which rewards users with crypto tokens for providing and editing articles.
Named Everipedia, this encyclopedia bills itself as “the online encyclopedia reinvented for the modern age” and with this democratizes the entire encyclopedia online model. It also offers incentives to content providers in a rewards system that is designed to provide a more inclusive and fully-autonomous encyclopedia without any ads or donations.
As the CIO of Everipedia, Dr. Larry Sanger stated:
“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.”
What’s interesting is that Sanger co-founded Wikipedia – but is now confident in the rival as a brand new way to make most of the blockchain technology in the existing ‘online encyclopedia’ model. According to him, the blockchain is meant to “disrupt online information.”
Every user who wants to contribute to Everipedia needs an EOS account and IQ tokens to create content and vote on iqnetwork.io .Everipedia also published data which shows that so far, 16.8 million IQ has been staked by users on the network.
With millions of unique monthly visitors and 6+ million encyclopedia articles, Everipedia is already a serious competitor of Wikipedia online. The site has millions of unique visits and more than 8,000 volunteers right now, coming from social networks such as Facebook, Reddit and Telegram.
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“The first one is that it can support multiple collateral types. This, of course, means ERC-20 tokens. It also means Bitcoin through WBTC. A range of cross-chain assets that are emerging now. Also, there will be other stablecoins. Centralized stablecoins that already exist on the Ethereum blockchain. But most importantly, security tokens.”The MakerDAO foundation initially owned all of its MKR tokens but as Rune explained, they sold them off to multiple huge players in the EthereMum world in order to fund teams of 100 people. He says that MKR exists only to be able to vote in the system. The system rewards people who hold CDPs and when everything goes well, the MKR total supply is reduced, tokens get burned off and the value of the remaining tokens increases. Dai is extremely unique and some consider it as the real stablecoins, unlike the pegged coins. Dai is built on an open system so people who invest in cryptocurrency can access the stability of the Oracle system. Christensen also explained how real security tokens operate better in the world of traditional assets. He said:
“Security tokens are still something that is quite new. But what that really represents to Maker is the ability to now interact with real-world assets. The ability to interact with real-world finance and provide arbitrage opportunities between the traditional finance world and the tokenized world. That means that in the future the Dai will not just be backed by volatile cryptocurrencies, but things like real estate, bonds, and stocks.”The most important way to use Dai is as a stablecoin. If anything happens to the Ethereum network, there could be some negative consequences to the market but MakerDAO couldn’t get in a worse position than the one last year.
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