As you must have noticed by now in the blockchain and crypto industry, it is never short of buzzwords. Decentralized Science (DeSci), similar to an older concept, decentralized finance (DeFi), appears to be drawing some attention in the world of research and science. Is DeSci just another buzzword or is something big loading here?
Andrew Kang, a partner at Mechanism Capital, has likened the current state of DeSci to the early days of Decentralized Finance (DeFi) in 2019. In an opinion shared on X recently, Kang emphasized the “experimental” and “raw nature” of DeSci while highlighting its immense potential for growth and innovation. He suggested that much like DeFi’s evolution—exemplified by Maker, Synthetix, and Aave—DeSci projects are iterating toward refined, market-ready solutions.
DeSci: An emerging blockchain frontier
DeSci aims to improve scientific research by leveraging blockchain technology, decentralized autonomous organizations (DAOs), tokens, and NFTs. In other words, DeSci aims to leverage blockchain technology and Web3 tools to create an open system to conduct and disseminate scientific research.
It is an innovation that seeks to address systemic issues in traditional science, such as restrictive peer review systems, data accessibility, and the influence of large institutions like Big Pharma.
By embracing citizen science and community-driven collaboration, DeSci aspires to unlock breakthroughs in areas like genetic testing, drug discovery, and even baldness treatments.
Notably, the COVID-19 pandemic acted as a catalyst for the sector, highlighting the need for improved systems to combat global health crises. Blockchain’s inherent transparency and security could provide solutions to problems like healthcare data breaches, which have affected millions in recent years.
Read also: What is Decentralized Finance (DeFi) and How To Benefit from Its Ecosystem?
Parallels to DeFi’s growth trajectory
Kang’s comparison to DeFi’s nascent stages comes to encourage development and innovation in the emerging niche. According to ecosystem participants, there is massive potential for the sector, he stated.
Notably, In 2019, DeFi protocols like Maker and Aave were considered unpolished micro-cap projects. Over time, through iterative development and adoption, they have grown into pillars of the DeFi ecosystem, managing billions in total value locked (TVL). Similarly, Kang submitted that the emerging DeSci projects will undergo significant transformation as they refine their models and attract broader market participation.
The founder and crypto venture capitalist wrote: “The DeSci space right now feels like the early 2019 DeFi days. Everything is still raw, experimental, but there’s an underlying understanding from [those] involved that there is massive potential. It’s likely that the current projects won’t have the same model/product as they will in the future but that’s because they are developing through iteration. It was this way with Maker, Synthetix, and Aave in 2019 which were clunky microcaps that are now massive protocols.”
Further, Kang highlighted three DeSci projects he finds particularly compelling, urging his X followers to shill him more projects in the sector. The projects highlighted by him included Bio Protocol, Pump Science and GLP1 Science.
BIO Protocol is a platform enabling shared ownership of cutting-edge medical developments. Kang’s firm Mechanism Capital recently invested in BIO Protocol, signaling confidence in its vision.
Pump Science is a project focused on tokenized trading linked to longevity medicines. While GLP1 Science is an initiative aiming to address obesity through blockchain-driven innovation, tagged with the slogan, “Make America Skinny Again.”
Together, these projects showcase the versatility of DeSci, covering areas from pharmaceutical innovation to public health solutions.
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DeSci tokens in the market
According to Coingecko, there are about 34 DeSci-based tokens in the crypto market. Data further shows that the cumulative market cap of these tokens is an estimated at $1.22 billion at the time of writing, reflecting their early-stage positioning. Leading DeSci tokens by market cap include OriginTrail (TRAC), VitaDAO (VITA), HairDAO (HAIR), ResearchCoin (RSC) and Rifampicin (RIF).
Overall, Kang’s optimistic perspective highlights the importance of innovation and iteration in fostering cutting-edge advancements, be it in finance, research or science. If DeSci achieves its goals, it could emerge as one of blockchain’s most impactful applications yet.
Read also: How to Analyze DeFi Projects
Ndianabasi Tom A Petroleum Engineering degree holder, Ndianabasi’s interest since 2018 has been studying the ever-growing field of blockchain and cryptocurrency, keenly evaluating the innovation, exploration, and expansion of this field locally and globally. The founder of Nitadel a media platform, Ndianabasi has been a Writer at Crypto Asset Buyer (CAB) since 2021. When he is not drilling resources in the blockchain and cryptocurrency field, Ndianabasi is singing, reading, watching crime movies, or playing football.
