Startup is setting up a platform that will reward (in crypto) anyone who contributes new knowledge to the global science community
ResearchHub, a crypto-based startup focused on advancing scientific research, may have just completed a $5 million funding round. According to an official announcement, the round was led by Open Source Software Capital. Participants in the funding include Guillermo Rauch, Amjad Massad of Replit, and Bob Young of RedHat.
ResearchHub to deploy new model of funding
According to the co-founders of ResearchHub coinbase CEO Brian Armstrong And Patrick Joyce, the general model of funding science projects “sucks”. He claims that, in the past, funders have been willing to support science projects based solely on the number of citations. As a result, scientists focused more on optimizing their research to get as many citations as possible than on quality. This, so they can secure funds.
Now, however, ResearchHub believes that this should not be the case and that science should work more like open-source software.
To this end, the startup is setting up a platform that will reward (in crypto) anyone who contributes new knowledge to the global science community.
ResearchHub claims users use ResearchCoin for publishing content on the platform[RSC]Will earn However, the catch would be that the amount of RSC earned would be proportionate to the value of the content. That is, how well the science community understood such material.
one in blog post, ResearchHub shared that it will use some of its new funding to expand its platform. This is so that it can reach more scientists globally. The remainder would then be invested in new facilities and equipment that would make its science community as valuable and efficient as possible.
Ultimately, ResearchHub hopes to change the face of money and reward quality rather than quantity. Part of its post reads:
“Over time, we hope to iterate towards a ResearchCoin reward structure that provides resources for the best and brightest minds on ResearchHub in a credible, evidence-based fashion.”
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Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his writing style. He firmly believes in the potential of digital assets and takes every opportunity to reiterate this. He is also an avid reader, a researcher, an astute speaker and a budding entrepreneur. Although away from crypto, Mayowa’s distractions include discussing soccer or world politics.
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