Everipedia, Aka Crypto Wikipedia, To Use XYO’s Geospatial Blockchain To Verify Crowdsourced Contributions
Everipedia To Use Geospatial Blockchain Technology By XYO To Verify Crowdsourced Contributions
Everipedia, Wikipedia’s version for the cryptocurrency community, has announced that it will use geospatial blockchain technology by XYO to help it verify crowdsourced contributions on its decentralized encyclopedia site.
Speaking about the new project with Everipedia, the co-founder of XYO – a geospatial blockchain company – Markus Levin had the following to say:
“We enable users to prove their knowledge. Let’s say you’re writing about the Statue of Liberty and you’re in India. You’ve never been to the Statue of Liberty. Your knowledge is second-source. It has a different qualifier that if you’re a professor of history and you’ve been to the Statue of Liberty many times. You’re a primary source.”
Location Data To Help With Validating Information
Everipedia uses an incentive structure utilizing an EOS token, IQ cryptocurrency, to reward contributors. With the new technology, the Wikipedia’s alternative will be able to use location data to validate information provided by its contributors.
The co-founder of Everipedia, Theodor Forselius, told CCN, a crypto news site, that:
“Everipedia looked at the rest of the Internet. We realized that all other aspects of the internet like search engines, e-commerce, social networks, have evolved over the past two decades. There’s been a bunch of competition driving innovation forward. But with online encyclopedias, it’s just been Wikipedia and nothing else. We basically just saw a huge vacuum of opportunity.”
Growth Of Everipedia
Since it was formed in 2017, including all articles on Wikipedia, Everipedia has grown to see huge traffic to its site. Currently, it has several million of active users and more than 1 million published original articles.
Unlike Wikipedia, the content standards on Everipedia are solely determined by its community of IQ token users. Submitting a new article requires one to pay some amount in tokens, and if a new article or an edit of the same is approved by other users, then the owner receives their stake back and more from the network. The incentive structure works to discourage low-quality content and spam articles.
When it comes to mass adoption, Forselius had the following to say:
“The main issue with the blockchain space and the state of dApps right now is it’s too much about blockchain and crypto. The terminology and the marketing, front-facing stuff for the users. So I think what’s really going to take a project like Everipedia to the masses is focusing on being a better product. We want to attract users because we are superior to Wikipedia.”