Can decentralized site IQ.wiki offer a better knowledge source for web3 than Wikipedia? #SlateCast 30 Can decentralized site IQ.wiki offer a better knowledge source for web3 than Wikipedia? #SlateCast 30
IQ.wiki is building the knowledge base for crypto with the goal of a fair and free editorial process.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
IQ.wiki, formerly Everipedia, has ambitions to shake up blockchain and cryptocurrency knowledge via open collaboration and the wiki-based editing process.
Although Wikipedia is among the top ten most visited websites and a go-to source for information, recent times have uncovered a volley of criticisms, including the lack of systematic fact-checking, subjective notability standards, and political bias.
Additionally, site bias extends to cryptocurrencies, with Wikipedia editors keen to censor anything and everything to do with digital assets on the platform.
To redress the balance and achieve an objective wiki experience, IQ.wiki was formed to bring transparent digital asset informational content across categories, including NFTs, DeFi, layers 1s, and so on.
CryptoSlate spoke to IQ.wiki’s Chief Brain Navin Vethanayagam to learn more.
There is a real need for IQ.wiki.
Touching on the abovementioned problems, Vethanayagam said IQ.wiki started as Everipedia and was a direct response to build “a more inclusive encyclopedia.”
He mentioned that, as far back as 2014, the team had seen what was happening at Wikipedia. In particular, how its notability standard was being used to discriminate, censor, and take down worthy pages.
Initially, plans were to compete directly against Wikipedia by matching its width of content topics. But the team soon realized this strategy proved challenging in terms of scaling up operations, leading them to switch tack and focus on cryptocurrency knowledge exclusively.
“Back then. the site was still focused on this broad goal of covering everything, an alternative to Wikipedia. But what we saw was that’s not the greatest way to scale and to focus.”
However, this strategy could change depending on community demands, said Vethanayagam. He pointed out that IQ token stakers direct governance of the BrainDAO. In turn, any decision can be pitched, and it is up to the community to vote and decide.
In addition to muscling in on Wikipedia’s patch, Vethanayagam said the IQ.wiki token introduced an incentive to the wiki model, enabling participants to earn revenue for their contributions.
“In 2018 we launched the IQ token, then what we saw was really exciting, we saw a lot of adoption, a lot more people getting involved, editing.”
Blockchain-based wiki
The IQ.wiki website runs on the Polygon blockchain with wallet integration using MetaMask or WalletConnect. Non-crypto wallet users can participate using their email or social media accounts.
Alongside the content, at the top right of each page, details of the IPFS hash and Polygon transaction number are displayed and clickable.
IPFS, or InterPlanetary File System, is a file distribution protocol enabling computers to store and serve files as part of a peer-to-peer network.
Commenting on how this setup improves upon Wikipedia in terms of censorship resistance, Vethanayagam said the IPFS and transaction number track every page edit on-chain. Moreover, the entire website is transparent by preserving the page history and having the option to revert to a previous point in time. This makes censorship challenging even within an open, collaborative ecosystem.
In line with Web3 expectations for a better internet experience, IQ.wiki encourages video and social media use with YouTube and Twitter integration. This multimedia approach helps an entity tell its story more holistically, geared toward the crypto community, added Vethanayagam.
“A lot of wiki sites, not just Wikipedia, they don’t really integrate video well and that was another thing we wanted to focus on.”
The future
The immediate goal for IQ.wiki is to continue building out cryptocurrency content. However, Vethanayagam disclosed plans for greater integration into cryptocurrency, including having token swap functionality directly on the pages.
“One thing we’re interested in doing is integrating swaps. So for example, you could read the Polygon page, read about the MATIC token, and then have an integration where you swap tokens, like a stablecoin for Polygon.”
Vethanayagam also mentioned NFT marketplace integrations, similar to the token swap functionality; reading an IQ.wiki page about a particular NFT could include a button to buy that non-fungible directly from the page.
Currently, the IQ.wiki team moderates content, but plans are in place to implement a community mod system, with members voting to appoint candidates to oversee specific sections on the site.
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Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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