The Rise of DeSci: Can On-chain Research Become the Next Trend?

Recently, the decentralized science (DeSci) sector has sparked heated discussions in the crypto market. DeSci aims to utilize Web3 technology to establish public infrastructure that promotes the open funding, storage, and dissemination of scientific knowledge. This concept encourages researchers to share their achievements and gain recognition, while also allowing the public to conveniently access and contribute to research content.

The rise of the current DeSci craze mainly stems from endorsements by well-known figures in the industry. A certain trading platform completed strategic financing for BIO Protocol, bringing this "on-chain science version of Y Combinator" into the spotlight. Subsequently, industry leaders gathered to discuss this topic at the DeSci Day event held in Bangkok, further promoting the development of the DeSci concept.

Under the influence of this wave, some DeSci-related projects have achieved remarkable market performance. The Pump.Science platform has rapidly gained popularity, and projects like RIF and URO have generated astonishing returns. Industry insiders even compare the current DeSci field to the DeFi era at the beginning of 2019, believing that although it is still in its early stages, it has immense potential.

However, the long-term development prospects of DeSci still have uncertainties. Scientific research often requires long-term sustained investment, which contradicts the characteristics of the crypto market pursuing short-term gains. In addition, the closed nature and confidentiality requirements of traditional research fields may also conflict with the open and transparent principles of blockchain technology.

From a historical perspective, DeSci is not a new concept. In July 2021, VitaDAO, initiated by the founder of Ethereum, was a typical DeSci project dedicated to funding longevity research. Although VitaDAO briefly attracted attention, its subsequent development was relatively slow, and it only recently launched its first product.

Currently, DeSci projects are mainly focused on fields of common concern for all humanity, such as longevity research. Although these projects have attracted market attention, in terms of market capitalization, the leading projects in the DeSci sector are still far below those in other popular tracks.

Nevertheless, compared to other concepts, DeSci still has certain advantages in the crypto market. It possesses strong narrative and fundamental support, and any scientific progress could reinforce its market position. Additionally, the biomedical field's open attitude towards financing, along with the potential combination of emerging technologies and crypto technology, provides possibilities for the future development of DeSci.

From a macro market perspective, MEME coins have become the main bearer of current market funds. The traditional path of capital flow in a bull market seems to have changed, with the Bitcoin ecosystem becoming the main direction for capital, while MEME coins have stood out due to their characteristics of quick entry and exit and concentrated wealth effects.

This shift in market structure reflects the profound changes taking place in the cryptocurrency space, including narrative logic, communication patterns, and operational methods. The traditional token release model is difficult to sustain, and the market is more inclined to develop in a direction that is fair, autonomous, and closely aligned with the core of the token.

However, it is important to note that truly successful projects in the MEME market are still in the minority. Data shows that only a very small number of MEME tokens can reach a high market capitalization level. Therefore, for participants, how to survive in this rapidly changing market and avoid asset zeroing remains the primary concern.