BTC Wires: The world finally has a blockchain alternative to Wikipedia in the new peer-to-peer or P2P encyclopedia launched by Everipedia, a blockchain startup. Its press release announced the formal launch of the encyclopedia on 9th August, 2018. This new encyclopedia has been created to be autonomous, so it does not have to seek advertisements or donations of any kind to support it. The project makes use of the EOS network to operate and is planning to reward the curators with its native IQ token. Larry Sanger, who had co-founded Wikipedia, has now become the CIO of Everipedia. He stated that they are absolutely delighted to be able to launch the “minimum viable network” which allows users to vote for articles and create a decentralised network of articles most preferred by them.
The world has long anticipated the launch of a blockchain-based option for online encyclopedia readers, and the cryptocurrency circles’ motivation has been quite strong. The community has been well-aware of the kind of hands-off approach co-founder Jimmy Wales has towards blockchain. Wales had earlier also expressed skepticism about bitcoins in general. He has emphasized that he doesn’t wish to directly involve himself in the blockchain industry. He’s commented that he’s mulling over the suggestions to use blockchain in the journalism space that have been pitched to him by several people. He’s stated that although he finds the idea intriguing, he doesn’t find it viable enough to explore or work upon. In an interview to Bloomberg, the other co-founder of the company, as well as its president, Sam Kazemian said that the biggest obstacle that was affecting the project presently is the development of the IQ token. He stated that the development of viable token economics that both function effectively as well as make sense to everyone is a difficult thing to achieve. He believes that is the only thing holding back the progress of the project. He re-emphasised on the fact that the IQ token is more than just a token for serving as a unit of account within a service. Therefore, it is much more time-consuming and difficult to create.