Meet Lunyr – The Ethereum based encyclopedia
To begin with, Lunyr is a decentralized crowd sourced encyclopedia which has an Ethereum base and it rewards its users with tokens of apps that can be useful in contributing information and also peer reviewing. Lunyr is a next generation online encyclopedia which has an aim of being the starting point of the internet for finding accurate, reliable and useful information. Basically, Lunyr will just build upon the Wikipedia philosophy and then it will develop knowledge which will be next generation based on the block chain of Ethereum.
In other terms, Lunyr can simply be a knowledge layer of Ethereum which is driven by economic incentives and consensus in order to create or develop next generation applications that are decentralized. The long term vision that Lunyr has is to create an API which is knowledge based of which the developers can use to develop the next generation applications which will be decentralized in Virtual Reality, Augmented Reality and also Artificial Intelligence.
The decentralized applications through the Lunyr API will have the capability to grab accurate and precise data on events happening in the real world by tapping into the knowledge base. In life we require information which is something very crucial and currently the most valuable reference site for information is Wikipedia which is used by a lot of people in the world. A lot of articles on Wikipedia can be easily edited by somebody who has an internet connection and in the process one can easily manipulate the Wikipedia website and put false information although some of the errors can be rectified.
Lunyr will create a next generation knowledge base which will be able to solve the issue of inaccurate information and will push the boundaries of crowd sourced knowledge by using Ethereum. Ethereum will enable the creation of application tokens which will be used in a system that is incentive based in order to replace the intermediaries and the tokens will play a vital role in the provision of incentives. Apart from that, all the content submissions will go through a compulsory peer review process and will not be subjected to the knowledge base until they are validated for accuracy, reliability and also efficiency. An incentive system that is powerful which is enabled by application tokens will ensure that the peer reviewers perform best according to the ecosystem interests. This will result to information which is highly reliable and also accurate and there will also be rewards for the contributors and reliable information which will be useful for creating next generation decentralized applications.
Not to forget, the system of providing incentives for reviewing content and contribution by the users is a very nice method in having a hub that has decentralized information which is accurate and reliable and in the process facts that are irrelevant can be discarded with very bad reviews and only real and relevant content will go through by rewarding the good reviews and also good content. Lunyr will also have a site that contains paid advertising spots with the Lunyr tokens which will provide coin appreciation and also a natural buying pressure for actual use.
The Lunyr tokens will basically be used to advertise on the platform and the advertisements will be based on texts. On the other hand, the Ads will create a powerful demand for Lunyr tokens from the people with financial resources. They will provide that economic force which in turn drives network effect as many readers and the contributors will be joining the ecosystem which is very crucial. Lunyr will also implement machine learning mechanisms in order to identify familiar topics for the contributors and by using the contributors as the reviewers, then they will be able to support the entire system because they will be responsible for reviewing content which is submitted by other contributors.
Types of Lunyr tokens:
• Contribution tokens. (CBN)
These will be used as a basis for calculation in order to identify the quantity of Lunyr tokens that will be given to a participant and will be consumed after the Lunyr tokens have been distributed which will be after a two weeks period.
• Honor tokens.(HNR)
These tokens will be used for voting and proposing on the native resolution system for disputes and it will be consumed after it’s used.
• Lunyr tokens. (LUN)
These ones will be used to buy advertising posts on the Lunyr network and the contributors will be awarded Lunyr tokens in a period of two weeks.
Therefore, in short the Lunyr platform will basically be designed to align the rational behavior of network participants in order to be beneficial to the entire system. Also, the implementation degree will be in relation to the quantity of the ICO funds and in the case of a minimal amount of crowd funding, Lunyr will come up with basic functions and additional features will be developed in cases like that of maximal cap.
Lunyr Crowdsale Information
Wikipedia today ranks as the sixth most visited site in the world according to Alexa rankings. It attracts 470 million unique visitors who view over 19 billion pages per month. Estimating the amount of advertising revenue Wikipedia could generate if it allowed advertising on its pages provides clues to the potential demand for LUN:
- In 2006, Jason Calcanis, the cofounder of Weblogs, Inc, which was acquired by AOL, published an article about Wikipedia estimating an annual advertising revenue potential of $100MM.
- In 2008, BusinessInsider.com performed an analysis of Wikipedia and arrived at an annual advertising revenue potential of $350MM.
- In 2011, Vincent Juhel published a thesis about Wikipedia for HEC Paris, and arrived at an annual advertising revenue potential of $1.6 billion dollars.
We will initially focus on fine-tuning the system to improve accuracy, increase content, and grow readership. Once the knowledge base matures, we will attract a wider audience by encouraging contributions of near real-time data on world events and translations in multiple languages. Ultimately, Lunyr intends to establish its brand globally as a reliable, accurate decentralized knowledge base.
Taking it a step further, we will grow the ecosystem by developing an API that will attract developers. This Lunyr API will allow developers to use the knowledge base as a backbone for creating next generation decentralized applications in Artificial Intelligence, Virtual Reality, Augmented Reality, and more.
The Lunyr API holds promise for significantly changing existing business models and creating new ones. The Ethereum blockchain currently has no knowledge of the real world, yet most useful applications require real world information. Through the Lunyr API, decentralized applications will be able to tap into the knowledge base and grab accurate data on real world events and information. This leads to immediate benefits for Artificial Intelligence, Virtual Reality and Augmented Reality applications.
Artificial Intelligence projects similar to Siri or Amazon Echo are enhanced with the Lunyr API. When users ask fact-based questions, the decentralized application can dig through the Lunyr knowledge base and provide users with reliable, accurate answers.
The Lunyr API will enhance the intimate and visceral experience of interactive virtual worlds. Imagine putting on a virtual reality headset that lets you experience walking on the surface of Mars. As you walk along the cold, red-dusted ground, information about key landmarks and giant dust storms appear. All of this information is drawn from the knowledge base.
The Lunyr API can be the foundation for learning-based applications in Augmented Reality. Imagine you are at the beach on a sunny day and you see beautiful flowers by the seashore. You want to know what they are so you put on augmented reality glasses, which will identify the flowers, tap into the knowledge base, and give you all the information you need to satisfy your curiosity.