Competitors Wikipedia named Everipedia reportedly received funding of 30 million US dollars or approximately USD 409 billion. Everipedia like Wikipedia, both developed an online-based encyclopedia.
The fund comes from Galaxy Digital's Mike Novograts. According to Everipedia co-founder Sam Kazemian, the funds will be used to fund the blockchain protocol they are developing.
The protocols are created for digital tokens such as token ethereum which later becomes the backend key of Everipedia. The tokens will be given to EOS holders, a decentralized platform for virtual currency.
The token holder will get some access such as writing articles in Everipedia, keeping an eye on site activity, and updating articles.
This blockchain protocol makes the process of editing articles more transparent. When editing an article, the token holder must provide some guarantees to avoid editing dubious articles.
So, if the edited article is invalid, the token holder must give up his digital warranty. The token holder also has the option to choose what you want to add on the Everipedia site.
This blockchain protocol scheme was first created by Galaxy Digital, a newly released bank market of Mike Novograts.
We are happy to support Everipidia and see the development of a more modern and inclusive encyclopedia that brings the world's knowledge to blockchain", explains Novograts, as KompasTekno sums up Business Insider on Friday (9/2/2018).
Everipedia already has three million site visitors each month, and collects over six million articles. This number is still far less than Wikipedia which has 40 million articles from 293 languages.