IQ IQ Price

What is IQ (IQ)?

The IQ token, often referred to simply as IQ, is the native utility token of the Everipedia platform, which is a decentralized encyclopedia that utilizes blockchain technology to create a more comprehensive and censorship-resistant knowledge database. Launched in 2018, Everipedia aims to improve upon traditional online encyclopedias by allowing users to create and edit content freely while being rewarded for their contributions. The IQ token can be used for various purposes within the platform, including voting on content, transferring value, and incentivizing content creation.

Who are the Founders of IQ?

IQ was co-founded by Sam Kazemian and Theodor Forselius. Sam Kazemian, who serves as the CEO of Everipedia, has a background in computer science and a passion for leveraging blockchain technology to enhance information sharing. Theodor Forselius, the CTO, has extensive experience in software development and aims to build scalable systems that support decentralized applications.

How does IQ Work?

The IQ token operates on the Ethereum blockchain, using smart contracts to facilitate transactions and interactions on the Everipedia platform. Users can earn IQ tokens by creating, editing, or curating content, as well as through community voting mechanisms. The voting system on Everipedia allows token holders to vote on various proposals, including content revisions and platform changes, thus ensuring that the community has a say in the direction of the platform. Additionally, the IQ token can be traded on various cryptocurrency exchanges, providing liquidity and enabling users to convert their tokens into other cryptocurrencies or fiat currency.

Tokenomics

As of 2024, the total supply of IQ tokens is capped at 10 billion tokens. A significant portion of these tokens is allocated for community rewards, ensuring that active contributors are incentivized to participate in the platform. The tokenomics model encourages a self-sustaining ecosystem where high-quality content is rewarded, and the community actively manages the platform's development.

Top Use Cases of IQ

• Content Creation and Editing: Users can earn IQ tokens by contributing high-quality articles and editing existing content.
• Governance: IQ token holders have voting rights on decisions affecting the Everipedia platform, including content moderation and platform upgrades.
• Incentivizing Quality: The platform uses IQ tokens to reward users who provide valuable contributions, helping to maintain the integrity of the information available.
• Trading and Investment: IQ tokens can be bought and sold on various exchanges, allowing users to speculate on its value or use it for trading purposes.
• Decentralized Knowledge Sharing: The tokens facilitate a decentralized approach to information dissemination, enabling users from around the world to access and contribute to a collective knowledge base.

How to Keep your IQ Safe?

To keep your IQ tokens safe, consider the following best practices:

• Use Hardware Wallets: Store your IQ tokens in hardware wallets such as Ledger or Trezor, which provide enhanced security against hacking and online threats.
• Enable Two-Factor Authentication (2FA): If you are using exchanges or online wallets, enable 2FA to add an extra layer of security to your accounts.
• Be Wary of Phishing: Always double-check URLs and avoid clicking on suspicious links that may lead to phishing sites.
• Regular Software Updates: Keep your wallet software and any associated applications up to date to protect against vulnerabilities.
• Backup Your Wallet: Regularly back up your wallet information, including private keys and recovery phrases, and store them in a secure location.