How Does DeSci Work?

Updated on 2024-11-18

How Does DeSci Actually Work?

Think of DeSci like a digital science community where everything is recorded on a special type of database called a blockchain.

This blockchain is like a shared note that everyone can see, but nobody can erase or change what's written in it.

This is important because it keeps scientific work transparent and trustworthy.

Blockchain Made Simple

Imagine you're sharing your research notes with the world, but instead of using regular paper, you're using special digital pages that:

  • Can't be altered once written
  • Are visible to everyone
  • Show exactly when you wrote something
  • Prove you were the original author

That's basically what blockchain does for science.

When you publish your research or share data on a DeSci platform, it gets recorded in a way that can't be changed or deleted.

Getting Funding Through DeSci

The Current Way vs. The DeSci Way

Current way:

  • Write grant applications
  • Wait months for decisions
  • Deal with modern academia's bloated bureaucracy
  • Often need institutional backing and elite references

DeSci way:

  • Share your research idea directly with potential supporters
  • Issue tokens representing your project
  • Get funding from people who believe in your work
  • Start your research immediately

How Research Tokens Work

Let's break this down with an example:

You're a scientist studying a new cancer treatment. Here's how you could use DeSci:

  1. You create "Cancer Research Tokens" for your project
  2. Each token represents a small share in your research's future success
  3. You sell these tokens to interested supporters
  4. You use the money to fund your research
  5. If your research leads to valuable treatments, the tokens become more valuable

Think of it like tiny shares in your research project. People who believe in your work can buy these tokens, giving you the funding you need right away.

If your research succeeds, those tokens become more valuable, rewarding the people who supported you early on.

Benefits for Everyone

For Scientists

As a scientist, you get:

  • Direct funding without waiting for grants
  • Freedom to pursue your research interests
  • A community of supporters
  • Less paperwork and bureaucracy
  • Ownership of your research

For Supporters

If you want to support science, you can:

  • Directly support research you care about
  • Own tokens that might increase in value
  • Follow the research progress transparently
  • Be part of scientific discoveries

Real World Examples

Let's look at a simple example:

Sarah is a researcher studying Alzheimer's. Instead of applying for traditional grants, she:

  1. Creates "Alzheimer's Research Tokens"
  2. Sells them for $1 each
  3. Raises $2,000,000 from 6,000 supporters
  4. Uses the money for her research
  5. Keeps supporters updated through the DeSci platform

If her research leads to a breakthrough, the tokens might become worth much more, Sarah's early backers would get greatly rewarded for their bets on her research.

My DeSci Project

I'm building a DeSci platform, "Kickstarter for Science, with crypto", where scientists can tokenize their research and share future success with the supporters who fund them.

Read More about My Project

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