ResearchHub The Revolutionary Startup By Coinbase CEO Secures $5M Funding
- Coinbase CEO’s startup raises $5M for ResearchHub.
- ResearchHub aims to accelerate scientific research using cryptocurrency.
- Users can earn ResearchCoin by sharing valuable content on the platform.
ResearchHub, the startup co-founded by Coinbase CEO Brian Armstrong, has raised $5 million in a funding round led by Open Source Software Capital, with participation from Boost VC, RedHat’s Bob Young, Vercel’s Guillermo Rauch, Replit’s Amjad Masad, and others.
The platform aims to accelerate the pace of scientific research using cryptocurrency.
Funders of science projects rely on citation-based metrics to judge the quality of an academic researcher, and thus many scientists optimize their research to generate the most citations possible. However, Armstrong and co-founder Patrick Joyce believe that this is a broken and wasteful model, and that science should operate more like open-source software.
ResearchHub is building a platform that allows anyone to earn crypto rewards for contributing new knowledge to the global scientific community. By publishing content to ResearchHub, users earn ResearchCoin (RSC), with the amount of RSC received in proportion to how valuable other members of the community perceive the content to be. The platform’s web application hosts a suite of publishing and collaboration tools that help researchers draft new manuscripts and share them with the world.
ResearchHub hopes to iterate towards a ResearchCoin reward structure that channels resources to the best and the brightest minds on the platform in a reliable, evidence-based fashion. This will enable researchers to monetize their research and generate more value from their work, while also facilitating a more efficient and collaborative scientific community. With this latest funding round, ResearchHub is poised to continue making strides towards its mission of accelerating the pace of scientific research and revolutionizing the way the scientific community operates.
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