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Decentralized startup of the encyclopedia Everipedia is working to improve the user experience and the expansion of its blockchain ecosystem, with a new user interface, more languages to be added to the platform and new decentralized apps (DApp) in phase development, said the company.
Everipedia launched its blockchain network in August 2018, allowing users to start tapping the IQ tokens. IQ tokens are a central component of the incentive structure within the Everipedia protocol, which rewards users for the care and modification of articles. IQ tokens are also used for governance, allowing holders to vote on issues such as determining which sources can be referred to for an article and updates to the IQ network.
A company spokesperson told CoinJournal that Everipedia users aimed for a total of 93 million IQs to take part in curation, editing and voting for content. Currently there are about 4.5 billion IQ tokens in circulation for up to 10 billion IQ tokens. About 20,000 transactions are processed weekly on the network, a figure that the company expects to increase significantly with the launch of the new user interface, the person said.
The new interface for Everipedia.org aims to significantly improve the user experience and allows the Everipedia global community to grow on a much larger scale, the company said. The goal is to create a new user experience for consumers and publishers of traditional Internet encyclopedias.
"From day one, our goal has been to make a platform accessible to everyone," said Theodor Forselius, CEO and co-founder of Everipedia.
"The new user interface will set a new precedent for how DApps can bring blockchain technology beyond the sphere of blockchain enthusiasts and masses."
Everipedia is also expanding the IQ network over the blockchain encyclopedia with several new DApps in development. Everipedia is using internal resources, but it also provides the necessary funds to the other teams that develop DApp using the IQ token, the startup said.
Some examples of DApp under development include a forecasting market, an oracle service, concrete facts on the DApp chain and an alternative Quora using blockchain technology.
"Developing new IQ token-based apps is the next step in creating a decentralized DAP consumer network around a single token," said Sam Kazemian, president and co-founder of Everipedia. "We are excited to create these apps using EOS.IO technology and increase the value and utility of the IQ token along with it."
Everipedia has completed the importation of Korean and Mandarin content and plans to add more languages in the near future, including Spanish, French and Italian. The company is targeting markets including China, Korea, Latin America and Russia, and will expand the size of its team in Santa Monica, Stockholm, China and Korea to support its geographical expansion.
"With the launch of the new platform, we will focus most of our efforts on expanding Everipedia globally," said the spokesperson. "This means launching Everipedia into new languages and building large communities in new countries".
"We have already hired community managers in China and Korea, where we already have large organic communities to help prepare a more complete expansion in each country after the launch of the new user interface."
Founded in 2014, Everipedia launched its website at the beginning of 2015 as a fork of Wikipedia. The mission, the company said, was to build the most accessible online encyclopedia that was not as restrictive as Wikipedia.
In December 2017, the company announced its intention to move on to the generation of changes and storage of information using the EOS blockchain. Blockchain allowed him to add a system of incentives that rewards content creators and publishers to contribute.
The model aims to make a fully autonomous encyclopedia feasible that does not need to rely on advertising or donations, the company said. Furthermore, the decentralized nature of how articles are stored using blockchain technology makes the network non-censurable.
In February, Everipedia raised an investment of 30 million dollars from a group of strategic investors led by Galaxy Digital's EOS.IO Ecosystem Fund with the participation of the Distributed Network Advisors (DNA) Fund and others.
