• Coinbase CEO Brian Armstrong’s research startup, ResearchHub, has raised $5 million in Series A funding.
• The platform enables users to earn cryptocurrency rewards for contributing new knowledge to the global scientific community.
• Investors in the round include Open Source Software Capital, Boost VC, RedHat’s Bob Young, Vercel’s Guillermo Rauch and Replit’s Amjad Masad.
ResearchHub Raises $5M in Funding
Coinbase CEO Brian Armstrong’s research startup, ResearchHub, has raised $5 million in a Series A fundraising 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.
What is ResearchHub?
ResearchHub is a platform that enables users to earn crypto rewards for contributing new knowledge to the global scientific community. Users earn ResearchCoin (RSC) for publishing content to ResearchHub, and the amount of RSC received is in proportion to how valuable other members of the community perceive content to be. It hosts a suite of publishing and collaboration tools that help researchers draft new manuscripts and share them with the world.
Why Was it Created?
Funders of science projects rely on citation-based metrics to judge the quality of an academic researcher so many scientists optimize their research to generate the most citations possible. Armstrong and co-founder Patrick Joyce argue that this broken model should operate more like open-source software which is why they created ResearchHub.
How Does it Work?
ResearchHub allows anyone to earn crypto rewards for contributing new knowledge to the global scientific community. Users earn ResearchCoin (RSC) tokens when they publish content on ResearchHub which are proportional to how much other members value their contribution. The platform also provides users with a suite of publishing and collaboration tools designed specifically for scientists who want share their work with others online quickly and easily.
Conclusion
With this new round of funding secured, Armstrong hopes that his project will revolutionize how science operates by providing an incentive system that encourages collaboration between researchers around the world while rewarding those who make meaningful contributions with cryptocurrency rewards.