Science is among the subjects that have greatly contributed to the enrichment of human life in how they interact or work in social settings. Nowadays, this subject has proven to be useful in areas like medical innovations which are mostly combined with technology to increase efficiency. Some of the diseases can now be treated thanks to scientific research that led to the discovery of the cure or preventive medication.
Orvium comes in at the research point of this scientific ecosystem which is currently among the most profitable arenas in the world. One would be surprised to know that the scientific publishing industry alone is estimated close to $25 billion in market cap while profits seem to be better than that of Silicon Valley’s big boys, Apple & Google. This is made possible through the extra mile taken by authors & publishers who commit to their research for the benefit of their target audience.
However, all has not been well in this industry since most scientific publishers have put personal interests before the community. The publication model that currently functions within this arena is relatively biased leaving authors at a disadvantaged position. Publication fees can be as high as $5,000 which cuts out authors with minimal resources but sound arguments. In addition, publishers sometimes get the copyright to publish their content for commercial purposes without compensation.
The Orvium Platform
This is the pioneer decentralized platform with a structure built for management of scholarly material and the data it’s pegged to. Orvium’s objective is to smoothen out things for the scientific research ecosystem by the elimination of inefficient procedures & avenues. In return, this will improve the quality of work published and more authors will be featured on the network hence enriching science innovations in the near future.
In order to achieve its goals, Orvium utilizes the blockchain technology where the scientific innovations will be recorded. Its value addition, in this case, is the traceable, public & trustworthy nature of the blockchain network which lacked in securing the work of authors in the past. A couple of actions taken on content published on this platform such as reviews & paper submission will all be available on the public ledger hence transparency & universality within the platform.
How does Orvium work?
Orvium’s blockchain technology brings transparency and fairness to the scientific research ecosystem. The protocol of this project allows for a competitive business environment that includes researchers from all backgrounds while profits are equally distributed among all players. This is made possible by the ORV token that fuels the network’s transactions and service payments for using the blockchain.
This network is accessible to anyone who has created an account. However, the ORCID non-proprietary code used by researchers will be different from what other users in the system will operate on. Therefore, researchers have the privilege of identifying other contributors such as academic authors within the platform. The network ensures that identities are not impersonated by confirmation of wallet requirement for all researchers.
Research work Submission
Interested researchers & authors submit their work on Orvium through the creation of a public Proof-of-Existence & authorship recorded on the platform. The life cycle of an author’s work can also be traced since the blockchain allows for new versions to be submitted as time progresses. Additionally, researchers can promote their work by staking ORV tokens as rewards for reviews on their published work. The authors are at liberty to stake an amount of their choice although it will mostly be in line with the prevailing market prices of specific intellectual property.
The manuscripts submitted by authors are later reviewed by fellow researchers who act as peers in this knowledge dissemination arena. Comments made in the review process are attached to the manuscript and made publicly available for participants on the network. Reviews can also be rewarded if they exceed expectations for a certain manuscript.
Publication Licenses & Copyright
Authors are at liberty to determine the extent to which their content will be accessible to the community. They can limit the rights at a more scalable level than is happening with publications on Google today.
Pros of the Orvium Blockchain
Authors & researchers can exercise full authority on their research work due to the decentralized nature of blockchain.
Research work will have more impact since the time of publication is minimal as opposed to the current system where bureaucracy eliminates important work along the way.
Authenticity in scientific work will be realized since rewards and incentives mostly attract serious contributors in the ecosystem.
Research data will gain more support which makes it easier for authors to pull efforts while working on a certain innovation.
Scientific journals will be available at cheaper prices as a result of decentralization while content addition will be quite easy with the versioning structure in the network.
Orvium (ORV) Altcoin
Just like most blockchain platforms, Orvium has its own token to operate within the network. This cryptocurrency is the Orvium token which is used in the different processes such as reviews & submission of work on the platform. Exchange takes place between players in the whole ecosystem not limiting even the readers or any other social contributor. The fundamental value of ORV tokens depends on whether researchers will adopt the blockchain tech to increase the value & impact of their work.