On December 6, 2017, the company announced plans to move to generating edits and storing information using the EOS blockchain.[28] The blockchain is a secure, visible and decentralized cloud storage and transmission technology.[53] They plan on working on a cryptocurrency token called IQ to encourage the generation of content.[28] Steemit, that gives cryptocurrency to users who provide content to a social network, is the model Everipedia wants to employ for their encyclopedia.[54] They will be combining the EOS blockchain and the InterPlanetary File System, which is somewhat of a decentralized server, that will be used to house the heavier data files such as video and images.[28] On December 6, 2017, Everipedia also stated they are building a peer-to-peer wiki network that adds an incentive system.[6] They are utilizing the concept of Bitcoin by incentivizing editors with tokens that have legitimate monetary value.[10] Eventually, the tokens can be bought and sold on exchanges.[10] Every account receives IQ for its editing, which are intended to be redeemable for Bitcoin or equity in Everipedia.[24] After the blockchain is implemented, the company will convert the points into a token currency.[55] The tokenized system lets every user become a stakeholder in the wiki network.[6] Each editor will put their token into play for each edit.[55] If their contribution is accepted, the user gets back the token, which will have obtained value in proportion to the content added.[55] If the edit is not accepted, the user does not get their token back.[11] The company hopes this tokenized system will produce more accurate and reliable information compared with a conventional wiki, which does not provide any such monetary compensation for editors.[56]