Despite having been around since 2019, the concept of a decentralized science (DeSci) backed by the blockchain recently started gaining traction.
Many scientists believe DeSci is the savior of an already “dying science research world.” The traditional scientific field is subject to centralized control which has created a lot of obstacles for scientists, slowing down their progress.
Among the most pressing issues are the difficulty in obtaining funding, the high costs of publishing their work, and the complex management of intellectual property rights. The gap between academic research and its industrial application is often referred to as the Valley of Death, making the path to innovation even more challenging.
DeSci uses blockchain to offers practical solutions to some of these problems.This innovation is expected to transform the research landscape though the use of technology to promote data transparency, collaboration among researchers, and open access to results.
Today, many projects like VitaDAO, AthenaDAO, and GenomesDAO are the biggest projects that carry the DeSci narrative. Should we expect more to come in the future?
MicroStrategy’s Andrew Kang believes DeSci is another DeFi in the making. He stated in a post on X that, “The DeSci space right now feels like the early 2019 DeFi days. Everything is still raw, experimental, but there's an underlying understanding from this involved that there is massive potential.”
“It's likely that the current projects won't have the same model/product as they will in the future but that's because they are developing through iteration. It was this way with Maker, Synthetix, and Aave in 2019 which were clunky microcaps that are now massive protocols.”, Andrew added.
Additionally, a new report by Broean hinted towards something big coming to DeSci linked to big names like Changpeng Zhao (ex-CEO of Binance) and Ethereum's Vitalik Buterin. CZ posted a photo with Vitalik at a DeSci event in Thailand with investors. While the keynotes of the gathering remains a mystery, the presence of these crypto icons together has fans buzzing.
According to CoinMarketCap, DeSci currently boasts a $721.6 million market cap, led by OriginTrail (TRAC) at $382.9 million, followed by Rifampicin (RIF) and ResearchCoin (RSC) at $82.2 million and $73.1 million.
DeSci tokens have become the latest buzz on social media now as many of them have been recording massive rise in value. As expected, many popular names in the DeFi and DeSci space have been reacting to the bullish trend.
In an X post, popular analysts James Bull, mentioned $GENOME, $VITA, $LAKE, and $HAIR as the biggest pumps.
What should we expect from the future of DeSci?
We can't say yet but here's what Prev co-founder Tyler Golato thinks in his post on X, “if the future of science is more agents than humans, DeSci is obvious choice for rapid funding rails. full scale automation and closed-loop science is maybe a couple of years out. need to architect these systems now.”
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