Everipedia which is known to be a blockchain based and decentralized database of information has announced its launch. It will rival the popular Wikipedia. Wikipedia according to the developers of Everipedia has way too many regulations which are not the idealistic way that online encyclopedias should be run.
The interesting part is the co-founder of Wikipedia, Dr. Larry Sanger is the Chief Information Officer of Everipedia. The hiring of Dr. Larry Sanger took place in December 2017 and it coincided with the decision to run on EOS instead of Ethereum. Thus there was a delay since December for the release.
According to the developers, Ethereum is ‘infeasibly difficult’ due to scalability issues.
Everipedia will have an incentive-based blockchain system where the native token will be called IQ. Contributors and validators will have the opportunity of gaining IQ tokens. Thus the quality of content will start flourishing thanks to decentralization.
In an interview with BNN Bloomberg, Everipedia co-founder and President, Sam Kazemian said, “The entire protocol is built on-chain, meaning that articles are edited, voted on, and uploaded to the EOS decentralized network and [InterPlanetary File System] network. No part of the protocol requires trust in a single party. It makes Everipedia a probably fair and transparent system, where everyone can see exactly where and how the content was added to each article. Blockchains allow for distributed governance as well as self-sustainability, which is needed in a knowledge base that the public can trust enough to reference.”
Everipedia is already on its way upwards with 8,000 contributors and counting, with a much larger volume of English content than Wikipedia.
However, EOS might have trouble shielding Everipedia, with a consensus that is too independent for its own good. There have also been issues of funds being stolen leading to accounts being frozen. Also, Block.one which has almost 25% control of votes has a significant factor of influence in EOS thanks to the Delegated Proof of Stake model which challenges the whole concept of decentralization.
Hence contributors too could be stopped from the truth if Block.one decides to block them.
Overall, the system of Everipedia does shine significantly in today’s world where decentralization and spreading of ownership is a better way than Wikipedia’s centralized structure.
Image Source: “Flickr”