CoinTiger x Everipedia AMA Recap
David, Telegram: @daveliebowitz, the VP of Everipedia (IQ) was invited to CoinTiger for AMA on 10th Feburary. The AMA comprised of 3 sessions:
AMA Session 1
The official admin raised 5 questions for David to answer with the chat muted. the participants are request to pay attention as the questions & answers raised as they will be related to Session 2 and 3.
Question 1: What is the history of Everipedia?
Everipedia: Everipedia started in 2015 as a modern alternative to Wikipedia and saw to evolve the world of knowledge bases through an inclusive editing policy and welcoming community. After a few years of steady growth, Everipedia saw that the most logical next step to really becoming a next-generation knowledge base was to utilize the benefits of blockchain. In February 2018, Everipedia raised $30 million from Galaxy Digital to rebuild its platform on the blockchain. Since then, every page that has been edited and stored on Everipedia has been done in a decentralized manner. You can see for yourself at www.everipedia.org.
Question 2: How big is Everipedia? What are some site statistics you can share?
Everipedia: Everipedia is one of the largest encyclopedias in the world by content, the world’s largest blockchain encyclopedia and one of the most-visited decentralized applications that exist today. The knowledge base currently boasts over 18 million pages across several languages, has millions of monthly unique users, articles on Everipedia has been viewed over 300 million times and the editor community is growing rapidly thanks to a cutting-edge user interface that combines the best aspects of content curation tools with social networking and gamification functionality.
Question 3: Who are some of your most notable partners right now?
One of our biggest collaborators to date is Brave Browser where we are running a co-marketing partnership with the goal of bolstering each other’s platforms to our respective communities and beyond. Some of the activities we are doing include creating Everipedia pages for BAT’s most prominent Creators and sharing them on our social media while Brave Browser is running ads about Everipedia to its browser users. In addition, Everipedia pages of Brave Creators will be featured on Brave’s flagship newsletter, The Weekly BAT and Everipedia staff will be on The BAT Community Podcast. We see this partnership with Brave as the first step towards a deeper collaboration.
Quesition 4: What are the future plans of Everipedia?
Everipedia: Our goal is for Everipedia to be the world’s largest online encyclopedia both by content and users. We want the underlying IQ Network to become the knowledge layer of the Internet with a family of decentralized applications built on top of it. An example of one that has already launched in addition to Everipedia is PredIQt, a user-generated platform for knowledge markets.
Question 5: What is the use of the IQ token? Why do people need it?
Everipedia: The IQ token is the foundation of the IQ Network and underlies all actions on Everipedia. How the IQ token works is that contributors put up a minimum of 50 IQ to propose an edit which is their “skin in the game”. After the edit is submitted, the community has 12 hours to vote in favor of or against the edit. If an edit is approved, the contributor and voters earn a reward from the proportion of inflation (500 IQ is minted every 30 minutes). If an edit is rejected, then the contributors’ and voters’ tokens are locked for a period of time. Furthermore, the IQ token can be used to vote on referendums to Everipedia. For example, the most recent referendum we had was requested by a number of contributors to Everipedia who wanted to change the minimum staking period of editing and voting from 21 days to 5 days. The point of the IQ token is to give people a stake in the platform. The more positive contributions you make to the network, the more IQ you earn. The token’s utility comes from it being needed in order to participate in contributing and allows the community to ensure quality and accuracy through democratic governance.
AMA Session 2
The chat will was unmuted for 1–2 minutes for open questions. IQ team will pick 5-8 questions to answer, those who raised a good question and was selected to answer will be rewarded.
Selected Question 1: What is the main difference between Everipedia and Wikipedia?
Everipedia: Although Everipedia forked Wikipedia content, the main difference is that Everipedia covers a much broader scope of information that Wikipedia refuses to due to their archaic “notability” requirements, which means we can have articles about literally anything. In addition, Everipedia bolsters a sleeker design by orders of magnitude (Wikipedia has not changed their design since 2002), a user interface that is as intuitive to use as Facebook, an incentivization system where editors earn rewards for positive contributions and more.
Selected Question 2: Why did Everipedia choose the EOS blockchain and will you launch your own blockchain?
Everipedia: Great question. We chose EOS because it had the proper transaction throughput needed to run a consumer dapp. Everipedia would not work as efficiently if we were limited in transaction speeds and fees. In addition, we received a lot of support from the EOS community. Although it has been a trend for projects to launch their own EOSIO chains, Everipedia plans on staying on EOS.
Selected Question 3: What is PredIQt? How does it work?
Everipedia: PredIQt is the “Augur of EOS”, a decentralized prediction market that utilizes the IQ token. How it works is if someone wants to create a market for a future event, they pay 20,000 IQ to do so which is then burned. When the market is approved, users can trade “Yes” or “No” shares on it. We see user-generated markets being one of the most innovative features of PredIQt and have seen a lot of support for the platform overall within our community.
Selected Question 4: What plans are in place for global expansion, are you focusing on only one market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Everipedia: Global expansion is very important to us. We have team members on the ground in China and in South Korea. In fact, we have launched a Korean version of our platform. Furthermore, we have been growing a dedicated community of editors in Nigeria specifically who have very active. One of our goals for 2020 is to continue this expansion around the world. https://ko.everipedia.org/
Selected Question 5: What were the major difficulties that you faced while starting this project (Everipedia)? And what was your motivation to continue?
Everipedia: Working on a project of this magnitude does come with its challenges. We are basically trying to do something that has never been done before. What motivates me to continue is working towards a better world where people have a stake in their platforms rather than the platforms taking advantage of them. Blockchain has the potential to organize humanity in ways never thought possible, and I am excited to be apart of it.
AMA Session 3
5 multiple-choice questions were raised in the chatroom via MCQ bot. Participants are able answer once every question in this chat. The first 15 to answer correctly on a question gets 7,000 IQ tokens each. Each user has a chance to win a maximum 35,000 Tokens.
We have come to our end of AMA recap for Everipedia. Thank you!
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