Wikipedia Co-Founder Talks About Blockchain-Based Competitor, Everipedia, At Malta Delta Summit

Wikipedia Co-founder, Larry Sanger, outlines how his latest blockchain venture, Everipedia, is set to revolutionize the well-loved web encyclopedia platform, at the Malta Delta Summit this week.

Everipedia.org is the modern day, decentralized ‘fork’ of the renowned crowdsourced knowledge database, Wikipedia, which despite launching over 17 years ago is still rated 5th on Alexa’s top 500 global sites by traffic volume.

The new blockchain-based application, powered by EOS.io technology, has been designed to radically improve on the former antiquated platform’s flaws by removing centralized bureaucracy, international censorship and by introducing a new crypto token incentive scheme that empowers content creators.

“Thanks to new technology, it’s now possible to move beyond Wikipedia just as we moved beyond Britannica almost two decades ago.” - Larry Sanger, CIO Everipedia.

In his presentation at the Summit, Sanger highlighted that one of Wikipedia’s major shortfalls was the lack of new content contributors. As a website that received over 18 billion views per month, according to a report published in 2015, the page boasts a mere 12,000 editors with only 129,672 active contributors at present. Sanger remarked that this is largely due to the complete lack of compensation or incentivization for active ‘Wikipedians’ who, according to a survey featured on Wikipedia, contribute mostly for the enjoyment of ‘volunteering to share knowledge’.

Everipedia is the world’s first online encyclopedia fuelled by its own unique ‘IQ’ utility token, where editors and content creators for the first time ever will be rewarded for their ongoing efforts and contributions. Not only will IQ tokens have an intrinsic value as a tradable token on crypto exchanges, but users opting to HODL IQ tokens will also benefit from having increased voting powers over the governance of the Everipedia network.

By offering this kind of reward system, Sanger hopes that an increasing number of users will be encouraged to engage in the creation of new material and by doing so, competition should also increase to ensure only quality content is published. This should safeguard against the current problem faced by Wikipedia, where content creation has stagnated because contributors find themselves unmotivated to participate for any length of time.

The decentralized nature of Everipedia is made possible by IPFS/ EOS.io storage, which enables the entire database of information to be hosted entirely by the platform’s users; removing any single point of failure and preventing foreign governments from banning its citizens from accessing the platform. This has a marked advantage over Wikipedia, which is currently censored in over ten countries including Saudi Arabia, China, North Korea, Russia and Turkey.

In the news today, Everipedia has also announced it will be expanding into Europe, following the opening of its second office in Stockholm, Sweden. This recent move marks another promising milestone achievement for the platform as it edges closer to becoming the leading global knowledge ecosystem on blockchain.