Coinbase CEO Brian Armstrong is placing the spotlight on a new crypto platform that’s distributing tokens in exchange for research contributions.
ResearchHub, run by a decentralized autonomous organization (DAO), is a platform designed to foster collaboration in scientific research the same that way that GitHub has done for software engineering.
In July, the platform launched ResearchCoin (RSC), a token awarded to users whenever they receive an upvote on a post or contribution.
Armstrong highlights the start-up to his 362,000 Twitter followers.
This is great: now you can earn crypto by helping contribute to science. Great example of the new types of crypto startups that are coming out. https://t.co/SxU2lGkN58
— Brian Armstrong (@brian_armstrong) October 29, 2020
The token grants users voting rights in the ResearchHub DAO and can also be used to improve the visibility of content and provide funds to scientific research on ResearchHub, according to Patrick Joyce, the platform’s chief scientific officer.
Joyce says the platform plans to distribute 1 million RSC each week on a proportional basis to ResearchHub contributors.
“Awards are distributed pro-rata by the number of upvotes each weekly contributor receives from the community for their contributions during that week. If you get at least one upvote during the week, you will be eligible to receive a portion of the 1M RSC that is distributed each week, in addition to the regular ‘1 RSC per upvote’ reward mechanism.”
Joyce adds that he does not anticipate that rate of rewards to continue for long. The amount will likely be halved periodically until the rewards diminish to the point of redundancy. The first set of RSC rewards will be measured and given out on November, 8th 2020.
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