23. February 2024

• Coinbase CEO Brian Armstrong’s startup ResearchHub has raised $5 million in a Series A round.
• The platform allows users to earn crypto rewards for contributing new knowledge to the scientific community.
• Funders of science projects rely on citation-based metrics, but Armstrong and co-founder Patrick Joyce believe that model is broken and wasteful.

Coinbase CEO Launches ResearchHub

Coinbase CEO Brian Armstrong has launched a startup called ResearchHub that uses cryptocurrency to accelerate the pace of scientific research. The platform allows anyone to earn crypto rewards for their contributions to the global scientific community, and recently raised $5 million in a Series A round led by Open Source Software Capital with participation from Boost VC, RedHat’s Bob Young, Vercel’s Guillermo Rauch and Replit’s Amjad Masad.

ResearchCoin (RSC) Rewards System

Users can earn ResearchCoin (RSC) for publishing content on ResearchHub, with the amount of RSC received being proportional to how valuable other members deem the content to be. The startup plans to iterate towards an RSC reward structure that will reward the best minds on ResearchHub reliably and based on evidence.

Flawed Citation-Based Metrics System

Funders of science projects often rely on citation-based metrics when judging a researcher’s quality; however, this can incentivize scientists to optimize their research for maximum citations rather than seeking out new knowledge or advancing their field more generally. To address this issue, Armstrong and co-founder Patrick Joyce argue that science should operate more like open source software instead.

ResearchHub Platform Features

ResearchHub hosts a suite of publishing and collaboration tools designed specifically for researchers drafting new manuscripts or sharing existing work with the world. Aiming to create an efficient system which rewards those who make valuable contributions, it has been designed so users are rewarded appropriately according to how highly other members rate their content or findings.

Conclusion

ResearchHub presents an exciting opportunity for those wanting to contribute something meaningful while earning crypto rewards at the same time – something which was previously impossible within traditional academic models relying solely on citation metrics. Ultimately, it could revolutionize how we approach scientific research by encouraging collaboration over competition while providing tangible incentives for those involved in making valuable contributions along the way.