What is DeSci?: The revolution of decentralized science through Blockchain

What is DeSci?: The revolution of decentralized science through Blockchain

DeSci, decentralized science, is transforming traditional scientific research through blockchain technology. 

This was highlighted by Coinshares in a recent research report, which considers this emerging sector of the crypto industry “the second youth of science.” 

Historically, science has been a fundamental pillar for the advancement of humanity. From the development of vaccines that saved millions of lives to the great discoveries that have transformed our understanding of the universe, scientific research has proven to be essential for social and technological progress. However, the traditional model of scientific research, known as TradSci, has been facing significant challenges.

According to Coinshares, one of the most significant problems with TradSci is precisely its centralized nature. Prestigious journals, government agencies, and universities with the most funding dominate the system, making it difficult for independent researchers or less established institutions to access resources. Furthermore, the publication of findings is often limited by paywalls, restricting free access to knowledge.

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Faced with all these challenges, what we know as DeSci or Decentralized Science, which presents us with an innovative approach that uses blockchain technology to democratize scientific researchThis emerging sector seeks to make science more accessible, transparent and collaborative, removing the barriers imposed by traditional guardians of knowledge.

In his recent report, the firm explores what DeSci is and how this innovation is revolutionizing the way scientific research is carried out, in addition to the benefits it offers compared to the traditional model.

What is DeSci?

DeSci, or Decentralized Science, is a movement that seeks to transform the scientific research system using emerging technologies such as blockchain. This approach focuses on decentralize the processes of research, financing and dissemination of scientific findings, allowing for greater community participation and removing restrictions imposed by intermediaries such as scientific journals and traditional funding agencies.

Blockchain, a technology known for its use in cryptocurrencies, plays a key role in DeSci. Thanks to its decentralized and immutable nature, this technology allows research findings to be recorded in a transparent and secure manner, avoiding manipulation or falsification. In addition, blockchain facilitates the creation of innovative incentive systems, such as cryptocurrency rewards, which allow researchers and collaborators to be motivated to participate.

“DeSci redefines how research is funded and conducted. It leverages blockchain technology to improve accessibility, introduce new forms of incentives, and foster cooperation within the scientific community.”, Coinshares noted.

A clear example of how DeSci is taking shape is the World Community Grid (WCG) platform, which since 2004 has allowed anyone with excess computing power to contribute to research projects in areas such as drug development or alternative energy exploration. Although WCG operates under a Web2 model, its success has laid the groundwork for DeSci's expansion into the Web3 era.

How does DeSci improve traditional science?

DeSci offers a number of significant advantages over the traditional model of scientific research, including its ability to increase access, improve transparency and foster cooperation.

One of the main challenges of TradSci is its lack of accessibility. Independent researchers or those belonging to less well-resourced institutions often face obstacles in accessing funding or publishing their findings. DeSci addresses this problem by creating open repositories, such as the Interplanetary File System (IPFS), a peer-to-peer network that allows researchers to share their work without restrictions.

In addition, DeSci introduces new financing models which democratize the allocation of resources. An example of this can be found in platforms such as Gitcoin, which use quadratic funding mechanisms, whereby projects that receive more individual donations access a greater share of matched funds. This not only ensures greater transparency, but also reduces reliance on centralized bodies, such as government agencies or private foundations.

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Another key advantage of DeSci is its focus on the collaborationBy removing the barriers imposed by traditional intermediaries, this model encourages cooperation between researchers from different disciplines and regions. For example, research into rare diseases could benefit from the contribution of scientists, citizens and organisations from around the world, working together in a decentralised environment.

The potential of tokenization and incentives

One of the most innovative aspects of DeSci is its ability to introduce new incentive and funding models through tokenization and the use of tokens and NFTs. These mechanisms not only transform the way researchers are rewarded, but also democratize access to resources and foster collaboration in the scientific community.

In the context of DeSci, tokens can be used to Recognize the contributions of researchers, validators and collaboratorsFor example, participants in peer reviews or those who contribute computing power can receive tokens that reflect their involvement in the project. These tokens not only serve as a form of reward, but can also be converted into cryptocurrency, providing a direct source of funding.

In addition, NFTs offer a unique way to Representing intellectual property (IP) in the decentralized environmentResearchers can create NFTs to protect and share their findings, ensuring authorship and allowing for a more transparent distribution of knowledge. This ability to tokenize intangible assets opens up new avenues for scientists to fund their projects, either through the sale of NFTs or by using them as collateral on decentralized funding platforms.

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The implementation of smart contracts on the blockchain allows these incentive systems to be automated, ensuring that rewards are delivered in a fair and transparent manner. For example, a smart contract could be programmed to issue tokens to contributors once certain project milestones are met, such as the publication of results or peer validation.

In short, tokenization and the use of tokens and NFTs on DeSci represent a quantum leap in the way scientific contributions are funded and recognized. By combining the transparency of the blockchain with innovative incentive mechanisms, DeSci not only democratizes access to science, but also drives a new era of collaboration and innovation in research.

The advances and challenges of decentralized science 

In recent years, the growth of Web3 and the adoption of blockchain technologies have driven the development of specific platforms and tools for decentralized research.

One of the most promising advances is the use of decentralized autonomous organizations, o DAO for managing scientific projects. These types of decentralized organizations allow the community to make decisions about which projects deserve funding and support, thereby eliminating the influence of traditional intermediaries. This is an approach that increases transparency and ensures that resources are allocated more equitably.

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However, while DeSci's potential is enormous, this innovation also faces significant challenges. One of them is the shortage of projects compared to other Web3 sectors.

“The DeSci universe is still relatively immature compared to other sectors such as gaming, which consists of over 800 projects with a market capitalization of $20 billion”, the firm commented. 

In conclusion, DeSci represents a quiet but powerful revolution in the world of science. By leveraging blockchain technology, this decentralized approach is transforming the way scientific research is conducted, making it more accessible, transparent and collaborative.

So while TradSci continues to face challenges like centralization and paywalls, DeSci offers innovative solutions that could democratize access to knowledge and accelerate scientific progress. With platforms like Gitcoin and Bio Protocol leading the way, and backed by companies committed to innovation, DeSci is laying the groundwork for a future where science is more inclusive and equitable.

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