What is DeSci: Guide on Decentralized Science in Crypto

DeSci or decentralized science is a field where cryptocurrencies and blockchains are used to support scientific research in various ways. More specifically, DeSci should be referred to as an umbrella term for the systems, practices, and assets associated with the use of Web3 in science. In this review, we are going to briefly summarize what we know and what we don’t know about DeSci. Additionally, we will take a look at the most promising DeSci cryptocurrencies and discuss potential use cases for this technology.

Narratives related to cryptocurrencies have emerged as broad themes, ideas, or overarching concepts that catalyze market trends, community behavior, and investment decisions of retail and institutional investors. These narratives typically arise from technological innovations, market movements, or social shifts that shape the way people perceive the value and potential of specific cryptocurrencies or projects. The most prominent early narratives include “Bitcoin as digital gold” (increasing scarcity of BTC due to halving), “Ethereum as supersonic money” (macro impact of EIP 1559), and others. Narratives create hype, attract developers and investors, and influence token prices. They evolve as the industry matures, often reflecting macroeconomic, technological, or cultural trends, and play a key role in shaping the crypto ecosystem. Narratives are becoming increasingly ephemeral as the cryptocurrency market becomes increasingly dynamic. Typical examples include DeFi Summer 2020, TikTok Meme Coin Mania 2020, Solana Summer 2023, etc.

Decentralized science (commonly abbreviated as DSCI) is an emerging concept that brings decentralized technologies into scientific research, and seeks to make it more inclusive, transparent, trustworthy, democratic, and collaborative. The main objective of DeSci is to solve modern scientific problems by providing direct financing through crypto assets, supporting distributed data sharing platforms, and using financial incentives for the most valuable contributors.