RSC, the native token of the decentralized science platform ResearchCoin, has gained around 10% in the last 24 hours. It is up 59.5% in the past week and 42.6% over the past month. According to CoinGecko data, its year-to-date gains stand at 928.5%.
RSC hit an all-time high of $0.9464 on April 8, 2024. The current price of $0.2379 is 73.88% lower than that high.
Changes will allow researchers to shape ResearchCoin incentives
The platform opened voting on changes to its reward and reputation algorithm on ResearchHub on July 31. The changes involve allowing researchers to shape their own incentives.
Researchers should shape their own incentives. Vote on changes to the reward and reputation algorithm on @ResearchHub and make your voice heard.
— ResearchHub Foundation (@ResearchHubF) July 31, 2024
The proposal introduces a new reward structure to incentivize researchers to document science reproducibly. It includes changes to reputational incentives (REP v2) and financial incentives (ResearchCoin Rewards) for healthy research behaviors. The financial incentives propose redistributing RSC (ResearchCoin token) to researchers who promote reproducible science.
The redesigned reputation and incentive structure acknowledge traditional and innovative research and encourage thorough documentation of research processes. It also aims to foster active participation and engagement within the community.
Reputational ResearchCoin incentives
The proposed changes include the following:
- Iterative REP approach: Action points initialized with upvotes and citations.
- Author profile pages: Highlight research and reputation achievements.
- Four reputation tiers based on subfield citation counts.
- Better reputation through peer reviews, discussions, preregistrations, publications, and research bounties.
- Upvote power: Higher tiers come with more points per upvote.
- Faster withdrawals: Reduced withdrawal period for verified users
Financial ResearchCoin incentives
- Preregistering studies (3X multiplier)
- Providing open-access data (2X multiplier)
- Publishing open-access articles/preprints (1X multiplier)
So far, all community votes are in favor of the changes. Community members may vote until August 2, 2024.
RSC price prediction
Moving averages indicate a “buy.” The RSI is 69.292 at press time, bordering on overbought territory. The asset shows strong bullish momentum but with a cautionary signal that it could become overbought soon.
If the RSI starts to decline from this level, it might signal a potential reversal or weakening of the current uptrend. If it passes 70, it may indicate that the uptrend is still strong, though the risk of a reversal becomes higher.
