What exactly DeSci entail in Web3? How Blockchain helps DeSci movement? What are the challenges?
Table of contents
What is DeSci?
First, DeSci is also called decentralized science to put it simply. In this, a growing number of scientists and researchers are using blockchain tools and smart contracts /tokens to improve the state of modern science.
Second, Blockchain technology as well as the emergence of decentralized science are offering a new approach to scientific collaboration and innovation. Especially within the field of scientific research.
Decentralized science represents a new paradigm in which scientific research is conducted collaboratively and openly, without the traditional gatekeepers of academia and industry.
Chiefly, this approach has the potential to revolutionize scientific research, making it more accessible, transparent, as well as effective.
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What is the Aim of DeSci?
a. How research is funded
b. Ownership from evil corp scientist.
c. Making scientific knowledge open for everyone.
Why do we need DeSci?
Research is a field that desperately needs innovation to address its slow-moving nature, bureaucracies, and lack of access.
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What are Common Issues in It?
Lack of funding
Poor sharing of existing research
Lack of Transparency
The dominance of Central Entities.
How DeSci uses Blockchain?
1. Smart Contract
Scientists can earn tokens for peer-reviewing the papers, removing the academic industry who extracting money from being a middleman.
2. Incentivize communities
Tokens/ NFTs could be used to incentivize scientific communities to share, review and curate different types of information.
3. Combating Censorship
Politics has always interfered with science, manipulating the message. Unchangeable data on blockchain helps fight it.
4. Verifiable Reputation
Current Scientist reputations are tied to publishing metrics. Although NFT/tokens can act as a vote for the reputation that the scientist has earned by doing valuable activities in the community.
5. Ownership by Scientist
Primarily, Science-based DAOs can decide the future of science programs by using tokens /NFTs to vote. Thereby removing the dominance of central authorities.
6. New Funding Model
Science-based NFTs to fund research, integration with DeFi protocols to create a path for long-term funding for scientists.
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Benefits of Decentralized Science
a. Increased access to Scientific Knowledge
One of the key benefits of decentralized science is increased access to scientific knowledge.
Traditional scientific research is often locked behind paywalls and access restrictions, making it difficult for researchers without access to institutional resources to contribute to scientific advances.
Chiefly, DeSci on the other hand, is open and accessible to all. Thereby, allowing anyone with an internet connection to participate in scientific research and contribute to scientific discovery.
b. Greater transparency
It encourages open data sharing and collaboration, allowing researchers to verify the results of previous studies and build upon them. This transparency and collaboration can help to improve the reproductivity and reliability of scientific research, ultimately leading to more robust and accurate scientific conclusions.
c. Increase Innovation
This type of decentralized science allows researchers to pursue innovative ideas and research questions that may not align with the priorities of centralized institutions. This approach can lead to novel discoveries and breakthroughs that may not have been possible within the confines of traditional research structures.
d. Foster greater Collaboration & Community
It emphasizes collaboration and community building, creating a shared sense of purpose and mission among researchers. This can lead to greater scientific collaboration and innovation, as researchers work together towards a common goal.
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DeSci is at the Cutting Edge of Blockchain Technology
DAOs are very new and have only been able to exist through blockchain technology. And it represents a new paradigm in organizational structure and governance.
Thereby offering a decentralized and democratic approach to decision-making and governance in the field of science and scientific research.
Basically, DAOs have the potential to revolutionize the way we think about organizational structure and governance. Thereby enabling decentralized and democratic decision-making that is transparent, efficient, as well as accountable.
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Challenges in Web3 DeSci?
Issues are raised that can non-scientist people in the community are capable enough to vote and understand high-quality projects.
Weak DeSci Protocols
Mainly, one of the main challenges is to build a protocol that is not weak like the previous ones in the blockchain system.
For DeSci to succeed, these tools should be integrated seamlessly into the everyday work of scientists.
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How does DeSci work?
Decentralized science uses blockchain technology that enables researchers to create immutable, open, and censorship-resistant databases.
Mainly, these databases can also act as authentic records of ownership rights of scientific research.
Token development in DeSci is a crucial tool for finance projects.
Conversely, Decentralized Science is a comparatively very “young” concept experimenting with cutting-edge Blockchain tools to transform science.
However, for DeSci to be successful, scientists must widely adopt its tools in their daily tasks to make accelerated innovations.
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Basically, it is a Web3 movement that leverages blockchain tools to address the critical issues plaguing modern science, such as funding, publishing, and copyright ownership. Although it’s still early stages, the DeSci movement has been slowly gaining momentum.
The price today is US$0.004968. It has a max supply of 100M.
It represents a new paradigm in scientific research, offering numerous benefits to society at large. It offers the ability to increase access to scientific knowledge, promote transparency, encourage innovation, and foster collaboration and community building.