Decentralized Science [DeSci] is the new buzzword of the crypto town. Everyone on the timeline is busy dissecting it. If you’re lost in the chaos and do not know where to start, we’ve got you covered.
Wait, what is it all about?
- DeSci is all about the application of blockchain tech and other associated tangents — like tokens, NFTs, and DAOs — to make aspects of scientific research and collaboration more transparent, community-centric, and incentivized
- It helps address challenges plaguing the TradSci ecosystem revolving around the lack of funding, data sharing, and publishing
Why should you pay attention?
- All eyes are on DeSci at the moment, there’s a lot brewing
- DeSci is on the verge of overshadowing DeFi on the mindshare front
- Ethereum founder Vitalik Buterin also seems to be all game, especially after gracing his presence at the DeSci Day event
Who said what?
- OGs have been advocating DeSci even before it started gaining steam
- In Q4 2022, Brain Armstrong said,
“I'm passionate about accelerating science and tech to help solve some of the biggest challenges in the world. To further this, I'm planning to sell about 2% of my Coinbase holdings over the next year to fund scientific research and companies”
- Meanwhile, last year this time, Binance’s founder CZ revealed,
“Been reading about biotech, thinking about how to use crypto to accelerate research funding there”
- All that being said, it is interesting to note that not everyone is riding the DeSci hype wave
- Several industry stalwarts continue to remain skeptical about this underlying tech
Zooming out
- As far as DeSci related tokens are concerned, the largest one — OriginTrail [TRAC] — is currently trading at a $377 million market cap
- Meanwhile, the next two on the list — RIF and VITA — are hovering around the $150 million threshold
Also Read: What is Pump.Science? Trade on Real Scientific Experiments
