Decentralized science (DeSci) is an emerging industry, similar to decentralized finance (DeFi) in 2019, which uses blockchain technology to incentivize community-driven scientific research and collaboration. DeSci aims to address various issues in the scientific community and improve the accessibility of data for researchers, healthcare professionals, and patients.
The concept is gaining interest due to its potential to revolutionize scientific research and combat the increasing cybersecurity threats in the digital age. DeSci is still in the early stages of development, with various projects exploring different aspects of the concept. Some of the most noteworthy projects include BIO Protocol, Pump Science, and GLP1, which focus on co-ownership of future medicines, trading tokens tied to longevity medicines, and making America skinny again, respectively.
The growth of DeSci is partly driven by the COVID-19 pandemic, which has encouraged industry players to explore new and improved ways to fight infections and diseases. By leveraging the security and transparency benefits of blockchain, DeSci aims to make scientific research more efficient and accessible.
As of now, DeSci has a market cap of $1.2 billion, with OriginTrail (TRAC) leading the pack at $374.9 million, followed by Rifampicin (RIF) and VitaDAO (VITA) at $133.1 million and $124.7 million, respectively. DeSci holds immense potential for improving scientific research and data accessibility, and its development could lead to the resolution of various issues in the scientific community.
The industry’s unique approach to utilizing blockchain technology could create a more efficient and transparent scientific landscape for all involved.
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