ResearchHub, led by Coinbase CEO Brian Armstrong, secures $5M in Series A funding.

ResearchHub, a startup focused on advancing scientific research using cryptocurrency, may have recently raised $5 million in funding. The funding round was led by Open Source Software Capital, with participation from Guillermo Rauch, Replit’s Amjad Masad, and RedHat’s Bob Young, among others.

ResearchHub to Deploy New Model of Funding

ResearchHub’s co-founders, Coinbase CEO Brian Armstrong and Patrick Joyce, believe that the traditional model of funding science projects is “wasteful.” They argue that in the past, funders only supported science projects based on the number of citations, causing scientists to focus on optimizing their research for citation count rather than quality. ResearchHub aims to change this by creating a platform that rewards anyone who contributes new knowledge to the global science community with cryptocurrency.

ResearchHub claims that users will earn ResearchCoin (RSC) for publishing content on the platform. The amount of RSC earned will be proportionate to the quality of the content, as perceived by the science community. The startup plans to use some of the funding to expand its platform to reach more scientists globally and to invest in new features and tools to make its science community more valuable and efficient.

Ultimately, ResearchHub hopes to reward quality over quantity and channel resources to the best minds in a reliable, evidence-based fashion.

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