http://lockergnome.com - Between Wikipedia and the more traditional encyclopedia, which is better? While there are several different encyclopedias out there to choose from, the argument can certainly be made that the content inside them is more consistent and reliable than what you might find with Wikipedia.
Still, Wikipedia has proven reliable in many instances. Not only is it a larger database of information, containing data about millions of subjects in multiple languages, but Wikipedia is also more up-to-date. In many cases, Wikipedia is updated before many news stations catch wind of a breaking story, thanks in part to a dedicated group of volunteer content creators numbering in the thousands.
Unfortunately, not everything in Wikipedia (or an encyclopedia for that matter) is very reliable. For example, a simple edit of an article about a person can change their entire life story. Facts are often incorrectly presented or assumed, making it a playground for pranksters that edit profiles. The community is generally very good at reversing these issues, making a prank or false update disappear relatively quickly once the problem has been brought to light.
Is Wikipedia better than a traditional encyclopedia? That really depends on what you're searching for.
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