Cointime

Download App
iOS & Android

Decentralized Science — Next Big Sector in Crypto

Validated Individual Expert

The traditional model of scientific research has been characterized by centralized institutions, such as universities and research centers, funding and directing research projects.

However, blockchain technology and the emergence of decentralized science is challenging this status quo, 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.

This approach has the potential to revolutionize scientific research, making it more accessible, transparent, and effective.

The Benefits of Decentralized Science

  • 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. Decentralized science, on the other hand, is open and accessible to all, allowing anyone with an internet connection to participate in scientific research and contribute to scientific discovery. This democratization of scientific knowledge has the potential to accelerate scientific progress by allowing a wider range of researchers to contribute their expertise and ideas.
  • Greater transparency: In traditional scientific research, data is often siloed within institutions, making it difficult for researchers to access and verify the results of previous studies. Decentralized science, on the other hand, 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 reproducibility and reliability of scientific research, ultimately leading to more robust and accurate scientific conclusions.
  • Increased Innovation: Traditional scientific research is often constrained by the priorities and funding structures of institutions and industries. Decentralized science, on the other hand, 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.
  • Foster greater collaboration & Community: In traditional research structures, competition for funding and resources can create silos and barriers between researchers. Decentralized science, on the other hand, 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.

Decentralized science 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.

Decentralized science has the potential to accelerate scientific progress and lead to new discoveries and breakthroughs. While DeSci is still a very new and emerging field, already there are many new and innovative projects leveraging this technology to bring to the market new ways of looking at and handling data — especially when it comes to our genome.

Latest DeSci Project — Genomic Healthcare:

Imagine for a moment, having your genome secure on the blockchain and being able to earn money from anonymously allowing it to be used for scientific and medical research.

This is no longer science fiction, but a reality created by a company called GenomesDAO, a decentralized autonomous organization (DAO) that aims to democratize access to genomic data and enable decentralized research on genetic information.

This project was founded by a team of scientists and developers in the field of genomics who recognized the potential of blockchain technology to revolutionize the way genomic data is shared and utilized.

It is one of the latest projects delving into the field of Decentralized Science, to create an open platform that enables researchers, scientists, and enthusiasts to contribute to the creation of a public genomic database, where information can be accessed and analyzed in a transparent and decentralized manner.

GenomesDAO aims to build a community-driven ecosystem that incentivizes users to contribute data and knowledge to the platform while ensuring the privacy and security of individual genomic data.

The importance of GenomesDAO lies in its potential to address some of the key challenges facing genomic research today. One of the major obstacles in genomic research is the lack of access to large and diverse datasets, which are essential for advancing our understanding of the genetic basis of disease and developing personalized therapies. By creating an open and decentralized platform, GenomesDAO aims to democratize access to genomic data and enable researchers from around the world to collaborate and share information in a secure and transparent way.

This project is also helping to address issues related to data privacy and ownership. Currently, genomic data is typically owned and controlled by large institutions, such as universities and research centers, which can limit access and control over how the data is used. By using blockchain technology, GenomesDAO can provide a secure and transparent platform that enables individuals to maintain control over their own genomic data while still making it available for research purposes.

It should also be noted, that GenomesDAO has the potential to incentivize the participation of individuals and communities in genomic research. By offering rewards for contributing data and knowledge to the platform, the project can encourage people to get involved in research and contribute to the collective knowledge base.

This project is an example of an important initiative that has the potential to transform the field of genomics by democratizing access to genomic data, improving data privacy and ownership, and incentivizing community participation in research. The platform has the potential to accelerate our understanding of the genetic basis of disease and develop personalized therapies that can improve human health and well-being.

DeSci is at the Cutting Edge of Blockchain Technology

DAOs are very new and have only been able to exist through blockchain technology and represent a new paradigm in organizational structure and governance, offering a decentralized and democratic approach to decision-making and governance in the field of science and scientific research.

DAOs have the potential to revolutionize the way we think about organizational structure and governance, by enabling decentralized and democratic decision-making that is transparent, efficient, and accountable.

Comments

All Comments

Recommended for you

  • CEL breaks through $0.55, with a 24-hour increase of more than 75%

    According to market data, CEL has broken through $0.55 and is currently priced at $0.5651, with a 24-hour increase of over 75%. The market is volatile, so please be prepared for risk control.

  • SlowMist: The total loss from security incidents last week (April 28-May 4, 2024) exceeded US$71.4 million

    According to the weekly security report (April 28 - May 4, 2024) released by SlowMist, the total loss this week exceeded $71,399,000. An incident this week resulted in losses rising from the nine-digit range to the astonishing ten-digit range. Surprisingly, this was not due to complex technical flaws or sophisticated phishing scams, but a simple error that could have been easily avoided by implementing a whitelist. Multiple security incidents include:

  • Tether issued USDT worth $240 million on May 4 and redeemed USDT worth $8.6 million

    According to ChainArgos monitoring, on May 4th, Tether conducted a large-scale issuance and redemption activity. A total of $240 million USDT was issued that day, while $8.6 million USDT was redeemed.

  • Ethereum stablecoin transaction volume breaks monthly record in April

    The total transaction volume of stablecoins on Ethereum last month was significantly higher than any previous month, but most of the trading volume was contributed by a single stablecoin, DAI. As previously reported by The Block, DAI is increasingly being used for complex MEV transactions, usually involving flash loans, with a large portion of DAI being minted and returned in a single transaction. Just one of these transactions increased DAI trading volume by nearly $1 billion.

  • The Ethereum network has currently destroyed more than 4.28 million ETH

    According to Ultrasound data, as of now, the Ethereum network has burned a total of 4,287,144.91 ETH. Note: After the Ethereum London upgrade introduced EIP-1559, the Ethereum network will dynamically adjust the BaseFee of each transaction based on transaction demand and block size, and this portion of the fee will be directly burned and destroyed.

  • Cointime May 5th News Express

    1.The Federal Reserve reduced its balance sheet by $77 billion in April, and the size of its balance sheet fell below $7.4 trillion2.Former Bitmex CEO: Bitcoin will trade between $60,000 and $70,000 before August 3.SLERF total destruction exceeds 7 million USD4.ether.fi large staker initiates pledge withdrawal application for 37,140 ETH5.Web3 digital asset company Alpha Transform Holdings makes strategic investments in Arhasi and Cloudbench 6.A trader spent 402 ETH to buy 732,326 FRIEND, with an unrealized profit of $653,0007.A certain address has sold a total of 677,197 FRIEND airdrops through BunnySwap, making a profit of approximately $1.15 million8.A multi-signature wallet withdrew 915.85 billion PEPE from Binance9.The NFT project Blob team engraved the rune EPIC•EPIC•EPIC•EPIC on the Epic Satoshi block of Bitcoin’s fourth halving10.On-Chain Analyst Predicts Six to Twelve Months of 'Parabolic Advance' for Bitcoin

  • Cointime May 4th News Express

    1. Hong Kong Bitcoin Spot ETF has held 4,218 BTC since its listing three days ago

  • Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors

    Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).

  • Renault's BWT Alpine F1 Team announces partnership with ApeCoinDAO

    The BWT Alpine F1 team under Renault announced a partnership with ApeCoinDAO on X platform, which will introduce APE into the Alpine F1 ecosystem and collaborate with global token holders to launch peripheral products and digital assets inspired by the first ApeCoin. It is reported that according to the cooperation between the two parties, in the future, BAYC NFTs may be able to wear equipment and clothing with the Alpine team logo.

  • Shanghai Municipal Party Committee Secretary: Welcome Standard Chartered to establish more new institutions, new businesses and new platforms such as blockchain in Shanghai

    Chen Jinong, the Secretary of the Shanghai Municipal Party Committee, met with Weihao Si, the Chairman of the Board of Directors of Standard Chartered Bank, and Mark William D'Arcy, the Executive Director, and some members of the Board of Directors yesterday morning. Chen Jinong stated that he welcomes Standard Chartered Bank to leverage its own advantages, strengthen strategic connections, place more new institutions, businesses, and platforms such as wealth management and blockchain in Shanghai, focus on deepening pragmatic cooperation in technology finance, green finance, digital finance, and create more application scenarios, and provide comprehensive and professional service support for enterprises to go abroad.