Getting Started With Lunyr, A Decentralized Knowledge Base Built On Ethereum Network
Lunyr uses the next generation technology, blockchain to create a decentralized encyclopedia where both the contributors and reviewers are rewarded with cryptocurrency tokens.
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The future of knowledge sharing has finally been built on blockchain technology. Lunyr uses the technology of next-generation to bring about new inception where participants are treated equally and duly rewarded. Centralized crowdsourced bases have various limitations that are due to be changed. The world is moving as technology evolves. Lynur leverages on this fast-growing technological advancement - blockchain to bring a new experience in the education sector.
In my previous post on Lunyr, we discussed the overview of Lunyr and the various components that make up the ecosystem. This is a continuation from where we stopped.
Getting started with Lunyr
Lunyr works much like other blogging platforms. This means it is very easy to use for both the knowledge seekers and contributors. The application is available for desktop devices on multiple operating systems; Mac OS, Windows, Linux (.AppImage) and Linux (.deb). Download the one supported by your device through the link provided here and launch the app after installation.
Set up your account using the instruction given in the app's sign up page.
Complete your registration through the verification link sent to you via your registered email address.
After completing your registration, sign in to your profile and explore the ecosystem.
As I explained in here, contributors are rewarded with CBN token which can be exchanged for LUN token via the internal market. Hence, you need to create a wallet to hold your rewards. After creating a wallet, you can start contributing.
Create high-quality contributions and submit them using the write button.
Submissions are peer-reviewed and the ones that meet the standard are published.
Claim your CBN and other dividend tokens and use them to your satisfaction.
LUN token statistics
There are three utility tokens powering the Lunyr ecosystem. The LUN is the most powerful among the three and is the one around which the platform's economy is built. The other two; CBN and HNR tokens need to be exchanged to LUN before they can be converted to fiat or exchanged for other cryptocurrency tokens. Below is the historical and market statistics of LUN token.
The LUN token was launched on May 1st, 2017 with an initial price of $2.47 USD and 24hr market volume of $321,352 USD. Exactly a month later, its price increased to $4.96 USD, gaining a 24hr market volume of $346,640 USD and a market cap of $11,403,003 USD. It went on to increase in value to $19.32 on August 12th, 2017. On January 10th, 2018, LUN got to its all-time highest price of $61.15 USD, a 24hr market volume of $47,990,300 and a market cap of $140,520,609 USD.
As at the press time, LUN is traded at $2.44 USD signifying 3.22% drop in value in 24hrs. It currently has a market cap of $5,608,755 USD and a 24hr market volume of $3,666,624 USD. Out of the total supply of 2,703,356 LUN tokens, 2,297,853 tokens are currently circulating in the crypto market.
Exclusive features of Lunyr
Below are some of the distinguishing features of this decentralized encyclopedia.
Contents are free
This is one of the priceless features of this era-defining technology. The contents on Lunyr are stored on IPFS network which is a decentralized network. Hence, they can be accessed at any time. As well, they are not restricted and made free for public use.
Censorship resistant
This is another advantage of Lunyr over other encyclopedias (that are run by centralized communities). Here, there is no censorship. Users can post anything and there is no central authority to remove contents found to be violating censorship.
Incentivized peer-contributing and reviewing
Unlike other established encyclopedias, Lunyr reward content creators for every contribution they make that pass the peer-review. Both the contributors and reviewers are duly rewarded for their work with CBN and HNR tokens.