DApp: Everipedia

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Reviewed: 31 January 2019
Everipedia is disrupting the knowledge economy which is before now centralized, Everipedia is Similar to Wikipedia but has its Backend hosted within a Blockchain while providing an incentive structure that will ensure that the knowledge base is constantly increasing while improving on most fundamental features that could be found on wikipecdia.
If you are a lover of curating article, then Everipedia is an App for you. Everipedia is a curation platform built on the EOS blockchain where users get rewarded for activities on the platform.
Platform
EOS
Token of interest
IQ
Category
Users 24h
182
Users 7d
Overall rating:
4 / 5
User experience
★★★★☆
Token integration
★★★★☆
Team
★★★★☆
Community
★★★☆☆
Security
★★★★☆

How to Use

  1. Install (or access) Scatter (https://get-scatter.com). The desktop version is recommended. Alternatively, use an EOS mobile wallet (e.g. EOSLynx), downloadable from the Google Play Store or Apple’s App Store.
  2. Set up a new EOS address (or use your existing one by importing private keys).
  3. Fund the address with EOS.
  4. Get IQ Tokens: The Everipedia Network requires users to stake IQ tokens in exchange for Brain Power; the Brain Power is what you need in order to make contributions.
  5. Stake IQ Tokens for Brain Power: Using the brain power management tool the user can stake his required IQ for brain power.
  6. With the acquired Brain Power, you can now edit, vote and create pages: After the staking period is over (currently 21 days), you will be able to claim back your IQ tokens, but you keep the Brain Power. You can then choose to re-stake them again and earn even more Brain Power from the same IQ to edit, vote and create pages.

Functionality & Important Features

Content Creation

Everipedia is primarily used for reading, creating, and editing collaborative articles online. The pages are wiki articles, meaning the site's users can collaboratively edit the page's content and structure. In addition, they make it as easy as possible to create and edit the pages without knowing how to code; most online encyclopedia requires you to know some form of code (i.e. Wiki markup). Everipedia reward individuals for creating quality contents on the Blockchain.

The users have the opportunity of Creating/Editing (uploading image, video and files), Voting on proposed edits and also Voting generally on quality contents of other editors without editing.

To place a vote on a page, user have to enter the number of votes they want, then click either "Reject" or "Approve".

The voting period is currently 6 hours. After 6 hours, the votes are tallied. The closer the vote is to 50/50, the smaller the IQ reward for the votes. The editor/proposer will still be rewarded with newly IQ tokens. However, this only happens under the condition that the editor or voter is on the side of the majority of the vote.

A plagiarism detection​ checker such as Search Engine Reports Plagiarism Checker​ can be used to ensure you don't vote in favor of plagiarism.

Currently Everipedia is no longer collecting new registration because they are moving users to the IQ Network (iqnetwork.io)

Token Mechanics

The Everipediad DApp uses EOS and its own token (IQ Token) to stake. The IQ token is exchanged for Brain Power which is needed to make contributions on the platform. Payout is done in its own token, the IQ token.

On release of its token, Everipedia released 9 billion IQ tokens, of which 4.5 billion is already in circulation with 17 million dollars Market Capitalization.

Everipedia uses a proof of Stake system to give people power to Vote, this is called Brain Power. Brain Power could be acquired by simply Locking Up your IQ tokens in exchange for a 21 day period. The IQ:BP Ratio is 1:1 at the time of this review; this means that 1QP = 1 BP.

Issues

At the time of this review, the only issue of note is the inability for new users to register on the Everipedia platform, which is due to the Everipedia Team making efforts towards creating its own blockchain platform (iqnetwork.io)

Final Verdict

In general, we conclude that the Everipedia DApp is a cool platform that is worth giving a try by curation lovers. It has no security challenges known to us as at the time of this review, as such we would give our overall verdict to be 4 out of 5.

User experience
★★★★☆
As at the time of writing this review, registration on Everipedia was no longer available, this necessitated an interaction with existing users on the community telegram group, from where it was observed that the user experience is cool as users have no complaints whatsoever as there is a detailed tutorial document for guild and very robust and vast FAQ page. Google translator is implemented on the Website to ensure that users that doesn’t understand or can’t read English
Token integration
★★★★☆
Users stake EOS Tokens to make contributions as well as also stake the IQ Tokens in exchange for Brain Power which is needed to make contributions such as edit, vote and create pages. Users then get rewarded with IQ Tokens by writing original encyclopedia pages.
Team
★★★★☆
The team is composed of sound minds with great intellectual capabilities that work with great cohesion in executing tasks. Team members are SamKazemian who is the president and Theodor forselius, Travis Moore, Mahbod Moghadam, SuchetDhidsa, kedarLyer and Larry Sanger the co-founder of Wikipedia.
For the future, the team is working on creating its own blockchain
Community
★★★☆☆
The community is fairly large with nearly 8000 community members on its telegram group this also adds value to the token as more users gives more value to the token.
Security
★★★★☆
The Everipedia DApp uses a smart contract which is impenetrable and the Dapp also has scatter integrated

Overall Rating

Rating 21/25 = Good

< 13 (avoid) | 14-16 (bad) | 17-19 (acceptable) | 20-22 (good) | 23-25 (exceptional)

Disclaimer

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