Wikibits, found online at Wikibits.io, is a blockchain-based wiki. Find out how it works today in our review.
What is Wikibits?
Wikibits aims to be the one-stop shop for solutions, products, and services for the crypto community. It’s a wiki based on blockchain technology and fueled by cryptocurrency.
You can view an alpha version of the platform here: https://wikibits.io/alpha/
Overall, the goal is to build the world’s first blockchain-based, “solution-driven” wiki. At the alpha platform, you can submit solutions that will be put towards development of the Wikibits beta product.
Users can earn WIKI tokens by leaving a comment or submitting an informative article.
What Problems Does Wikibits WIKI Seek to Solve?
Wikibits understands that the growth of information has expanded exponentially. Currently, it’s up to the users to find the right solutions to their problems – but they struggle to find those solutions on conventional platforms like Google and Quora.
Even then, the best solutions are rarely delivered, and the solutions that are delivered aren’t often rewarded. Users rarely provide detailed, successful answers on platforms for free. In other words, there’s limited incentive for people to provide solutions online, and it’s difficult for users to search for solutions online.
Wikibits aims to solve these problems by creating a tokenized ecosystem.
How Does Wikibits Work?
Wikibits aims to become the go-to portal for “solutions, relevant products and services,” explains the official website. The platform sees itself as a potential competitor to Google, Yahoo Answers, and Wikipedia. Wikibits sees itself as a superior option to each of these platforms.
Google, for example, is a search portal that returns general results. Wikibits is a community-based and solutions-driven platform that aims to return specific results.
Yahoo Answers, on the other hand, offers community-based responses, but users have little incentive to contribute clear and effective answers. Wikibits aims to quantify solutions based on community response.
Wikibits also sees itself as superior to Wikipedia because community contributions are directly rewarded with WIKI tokens. Users’ contributions to the platform are directly rewarded using WIKI tokens. Advertisers also enjoy special discounts when paying with WIKI tokens.
On the back-end, Wikibits uses machine learning and natural language processing to analyze big data on the blockchain. This will help organize all data uploaded to the Wikibits blockchain, making it easier for companies and individuals to search for solutions on Wikibits.
Wikibits emphasizes all of the following features:
- Simple: Anyone can post a comment on an existing article or submit a new article. It’s designed to be simple for anyone to use.
- Free: Signing up for Wikibits is free. You can stay, contribute, and earn without needing to subscribe to anything.
- Rewards: Post comments and submit articles to earn WIKI tokens during the pre-sale and ICO period.
- Tested: Wikibits was founded by information scientists who have Global Fortune 500 experience.
There are two types of articles on the Wikibits platform, including community-sponsored articles and Wikibits sponsored articles. You receive a higher reward for contributing to or posting Wikibits-sponsored articles.
You get 10 tokens per relevant comment on Wikibits sponsored articles, for example, and 5 tokens per relevant comment on community-sponsored articles.
Meanwhile, authors of articles will receive 500 tokens transferred to the Ethereum address on file with Wikibits upon acceptance. Authors of articles will also receive 5 additional tokens for each relevant comment under their submitted article.
The Wikibits WIKI ICO
The Wikibits pre-sale ends on February 14, 2018. The Wikibits WIKI ICO, meanwhile, is underway from February 15 to March 31. The price is set at 1 ETH = 12,000 WIKI during the beginning of the ICO, rising to 1 ETH = 8,000 WIKI by the end of the ICO.
Of the total supply of tokens, 250 million are allocated to the token sale. The remaining tokens (1 billion) are allocated to the community, with 200 million set aside for Wikibits and 50 million reserved for the Wikibits Foundation.
Who’s Behind Wikibits WIKI?
Wikibits was founded by Warren Wang and Zasim Siddiqui. Other key members of the team include Sara Viernes-Chisler (Executive Director) and Dev Panchal (Marketing Director). The team has experience at companies like BMW, the National Institutes of Health, the Reserve Bank of India, HP, and Boeing.
Wikibits WIKI ICO Conclusion
Wikibits aims to create a superior blockchain-based alternative to Google, Wikipedia, Yahoo Answers, and Quora. These platforms all have big problems: users have little incentive to provide good answers, and searchers struggle to find the right solutions. Wikibits aims to solve that problem by rewarding users with WIKI tokens for all comments and uploads on the platform.
To learn more about Wikibits, visit online today at Wikibits.io. The token sale is scheduled to begin on February 15, 2018.