Tag: Artificial Intelligence

Banking, Blockchains, cryptography, Digital Currency, Productivity, Science, tokenization, Uncategorized, Yogi Nelson

🔐 What Is Crypto Staking? A Beginner’s Guide

Yogi Nelson

Welcome to the BlockchainAIForum

As the crypto ecosystem continues to evolve, one term that frequently comes up is “staking.” But what exactly does staking mean, and why is it important in the blockchain world? This guide will break down staking in a clear, concise way—covering how it works, who participates, what the benefits and risks are, and what regulators are saying.

🌱 What Is Staking?

Staking is the process of locking up your cryptocurrency to support the operations of a blockchain network. In return, you earn rewards—usually more of that same cryptocurrency. It’s a bit like earning interest in a traditional savings account, except instead of a bank, you’re helping a decentralized blockchain stay secure and functional.

🧠 How Does Staking Work?

Staking is central to a type of blockchain consensus mechanism known as Proof of Stake (PoS). Unlike Proof of Work (PoW)—which relies on energy-intensive mining—PoS requires users to stake (i.e., lock up) tokens to help validate transactions and secure the network. The more you stake, the higher your chances of being selected to validate blocks and earn rewards. Here’s how it works:

  1. You hold a PoS-supported cryptocurrency (e.g., Ethereum, Cardano, Solana).
  2. You lock up your tokens in a wallet or with a staking provider.
  3. The network selects stakers (or validators) to confirm transactions.
  4. You earn staking rewards, typically paid out regularly.

Who Can Stake:

Anyone with supported tokens can stake. There are three main ways to participate:

  • Solo staking: You run your own validator node. This requires technical expertise and minimum token requirements (e.g., 32 ETH for Ethereum).
  • Pooled staking: You join a group of stakers to combine assets and share rewards. Good for beginners.
  • Exchange staking: Centralized platforms (like Coinbase or Binance) offer staking-as-a-service.

💰 What Are the Benefits? There are several advantages to staking your crypto.

✅ Earn Passive Income: Stakers receive regular rewards—similar to earning interest. This can be a valuable source of income for long-term holders.

✅ Support the Network: By staking, you’re helping secure the blockchain and process transactions, contributing to its decentralization.

✅ Lower Energy Use: Unlike mining, staking doesn’t require heavy computing power or electricity, making it more environmentally friendly.

⚠️ What Are the Risks? Staking isn’t risk-free. Consider the following before jumping in:

❌ Lock-Up Periods: Some networks require you to lock your tokens for a set period. During that time, you can’t sell or trade them.

❌ Slashing: If a validator behaves maliciously or makes errors, a portion of staked funds may be “slashed” (penalized).

❌ Platform Risk. If you stake through a third party (like an exchange), your funds depend on their security and practices.

❌ Market Volatility. If you stake through a third party (like an exchange), your funds depend on their security and practices.

🏛️ What Are Regulators Saying?

🇺🇸 United States. The U.S. Securities and Exchange Commission (SEC) has raised concerns that staking services offered by exchanges may qualify as unregistered securities offerings. In 2023, Kraken paid a $30 million fine and shut down its staking service for U.S. users. The main issue lies in custodial staking—when a third-party holds users’ assets and manages staking on their behalf. However, with a crypto friendly administration in place the coast is clear!

🇪🇺 Europe. In the EU, regulators are taking a more measured approach, aiming to provide clarity through the Markets in Crypto-Assets (MiCA) regulation. MiCA may allow staking under clear consumer protection guidelines. Regulatory frameworks are still evolving. Crypto users should stay informed and compliant in their respective jurisdictions.

🔍 Tips for Beginner Stakers. If you’re new to staking, follow these best practices:

  • ✅ Research the blockchain you want to stake on (e.g., its inflation rate, validator performance, and reward schedule).
  • ✅ Use a reputable wallet or exchange with transparent fees and security.
  • ✅ Start small to learn how the process works before committing large amounts.
  • ✅ Stay updated with network upgrades and policy changes.

🧭 Popular Staking Coins. Here are a few major cryptocurrencies that support staking:

CoinNetworkEst. Annual Reward
EthereumEthereum 2.0~3–5%
CardanoADA~3–6%
SolanaSOL~5–8%

To stake, or not to stake, that’s the question. By now you should know the answer.

Until next time,

Yogi Nelson

Artificial Intelligence, Blockchains, cryptography, Decentralized, Digital Currency, Uncategorized, Yogi Nelson

🔐 How Cryptography Powers the World of Cryptocurrencies

Yogi Nelson

Welcome to the BlockchainAIForum where your technology questions are answered.

Cryptography is the secret ingredient that makes cryptocurrencies work. Without it, Bitcoin, Ethereum, Cardano, and every other blockchain would simply not be secure or trustworthy. In this article, we will explore how cryptography works in the world of cryptocurrencies, explained in simple terms.

🧩 What is Cryptography?

Cryptography is the science of securing information so that only intended recipients can read it. Think of it like writing a message in code. If you know the code, you can read it. If you don’t, it remains a secret. In the digital world, cryptography relies on mathematical formulas and algorithms that are nearly impossible to break without the right key.

🏦 Why Cryptography Matters for Crypto

You may wonder: Why do we need all this math? Cryptocurrencies are decentralized, meaning no single person or bank controls them. Instead, people all over the world maintain the blockchain—the public ledger that records every transaction. Cryptography ensures that:

  • ✅ Transactions can’t be faked.
  • ✅ Coins can’t be spent twice.
  • ✅ Users can keep their private keys safe.
  • ✅ Everyone agrees on the ledger’s state without trusting anyone else.

🔑 Public and Private Keys

At the heart of crypto lies the concept of public and private keys.

  • Public Key: Like your email address. You can share it with anyone so they can send you crypto.
  • Private Key: Like your password. Only you should know it. It lets you spend or move your crypto.

These keys are mathematically related but it is impossible to figure out the private key from the public key. When you want to send crypto, you “sign” the transaction with your private key. Others can verify your signature with your public key to confirm it is valid.

✉️ Digital Signatures

Digital signatures are crucial. They prove that:

  • ✅ You authorized the transaction.
  • ✅ The transaction hasn’t been changed.

A digital signature is created using your private key and the transaction data. Anyone can check it with your public key. This ensures no one can forge your signature or alter your transaction.

🛡️ Hash Functions

Another critical tool in cryptography is the hash function. A hash function takes any input (like a document or transaction) and turns it into a short, fixed-length string of numbers and letters.

  • ✅ The same input always gives the same hash.
  • ✅ Even tiny changes in input produce completely different hashes.
  • ✅ It is impossible to figure out the original input just by looking at the hash.

In blockchains, hashes are used to:

  • Create unique “fingerprints” of transactions and blocks.
  • Link blocks together securely in a chain.
  • Ensure no one can change past records without detection.

⛓️ Blockchain Integrity: Chaining Blocks with Hashes

The term blockchain comes from linking blocks using cryptographic hashes. Here’s how it works:

  1. Each block contains a list of transactions.
  2. The block also includes the hash of the previous block.
  3. This forms an unbreakable chain.

If anyone tries to change a single transaction in an old block, its hash changes. That breaks the chain, making tampering obvious to everyone.

🧪 Zero-Knowledge Proofs (Advanced)

Some modern blockchains also use zero-knowledge proofs. These allow someone to prove they know something (like a secret or password) without revealing it. For example:

  • ✅ You prove you own funds without revealing your private key.
  • ✅ You prove you have enough balance without showing your entire account.

Zero-knowledge proofs can improve privacy and security.

🏛️ Example: Cardano’s Use of Cryptography

Let’s look briefly at Cardano, a popular blockchain project. Cardano uses advanced cryptography to secure its blockchain:

  • ✅ It uses Ed25519 for digital signatures, known for being secure and fast.
  • ✅ It employs Ouroboros, a proof-of-stake protocol that relies on cryptographic randomness to select who adds new blocks.
  • ✅ It explores zero-knowledge proofs to improve privacy and scalability in the future.

Cardano is an example of how blockchains go beyond simple signatures and hashes, using cutting-edge cryptography to enhance security and efficiency.

🌍 Why It All Matters

Without cryptography, there would be no cryptocurrencies. Banks have vaults and guards to protect money. Cryptocurrencies have cryptography. It lets people all over the world:

  • ✅ Exchange value securely.
  • ✅ Trust a shared ledger without intermediaries.
  • ✅ Protect their digital assets from theft or fraud.

✅ Key Takeaways

  • Cryptography secures cryptocurrencies without needing banks or middlemen.
  • Public and private keys enable secure ownership and transactions.
  • Digital signatures prove authenticity.
  • Hash functions link blocks in a tamper-evident chain.
  • Advanced tools like zero-knowledge proofs add privacy and efficiency.

💡 Conclusion

Cryptography is the bedrock of cryptocurrencies. It ensures that people can use decentralized digital money safely, securely, and confidently. Understanding the basics helps you see why crypto is revolutionary—and why it will continue to evolve with even better cryptographic tools in the future.

Until next time,

Yogi Nelson

AI Agents, AI Tools, Artificial Intelligence, Science, Uncategorized, Yogi Nelson

🖥️ Why Nvidia’s Computer Chips Are the Best in the World

Yogi Nelson

Welcome to the BlockchainAIForum

Nvidia is widely seen as the leader in making the world’s most powerful computer chips, especially for graphics, artificial intelligence (AI), and advanced computing. But what exactly makes Nvidia’s technology so special? In this article, we will explain, in simple language, why Nvidia’s chips are considered the best, looking at their technology, production, and unique capabilities.

⚙️ What Are Nvidia Chips?

Nvidia designs GPUs (Graphics Processing Units). Originally built to make video games look amazing, GPUs have evolved into essential tools for AI, scientific computing, and cryptocurrency mining. Unlike regular CPUs (Central Processing Units), GPUs can do thousands of calculations at once, making them perfect for:

  • ✅ Gaming
  • ✅ Artificial intelligence
  • ✅ Scientific simulations
  • ✅ Data centers
  • ✅ Blockchain processing

🚀 Parallel Processing Power

One major advantage of Nvidia’s chips is parallel processing.

  • CPUs have a few powerful cores that do tasks one at a time.
  • GPUs have thousands of smaller cores that work in parallel.

This design lets Nvidia GPUs handle massive amounts of data quickly. For AI models or crypto mining, this means:

  • ✅ Faster training of machine learning models
  • ✅ More efficient processing of transactions
  • ✅ Better performance for simulations

In simple terms: Nvidia’s GPUs can do many things at once better than anyone else.

💻 Cutting-Edge Architecture

Nvidia is famous for constantly improving its chip architecture. Each generation brings:

  • ✅ More cores
  • ✅ Faster memory
  • ✅ Lower power use

For example, recent architectures like Ampere and Hopper are designed specifically for AI workloads, with:

  • Tensor Cores: Special circuits for matrix math used in AI
  • Ray-Tracing Cores: Advanced lighting for realistic graphics
  • Better energy efficiency

These innovations keep Nvidia ahead of the competition in both gaming and AI.

🧠 AI-Optimized Hardware

What really sets Nvidia apart is how well its chips are built for artificial intelligence.

  • Tensor Cores can handle AI operations much faster than standard GPU cores.
  • Nvidia has designed these cores specifically for deep learning.

This makes Nvidia GPUs the top choice for:

  • ✅ Training massive AI models
  • ✅ Running AI in data centers
  • ✅ Powering self-driving cars

If you use ChatGPT or image generators, chances are they ran on Nvidia hardware.

🔗 Industry-Leading Software

Nvidia doesn’t just sell hardware. It also builds world-class software.

✅ CUDA: A programming platform that lets developers use Nvidia GPUs for everything from science to crypto.

✅ cuDNN: A library for deep learning tasks, used by major AI companies.

✅ Nvidia AI Enterprise: Tools for deploying AI in the real world.

This tight integration of software and hardware makes Nvidia chips easier and more powerful to use.

🏭 Advanced Production Process

Nvidia doesn’t manufacture its own chips but works with the best in the business.

✅ Nvidia designs the chips.
✅ Companies like TSMC (Taiwan Semiconductor Manufacturing Company) build them using cutting-edge fabrication processes.

These factories can make chips with features measured in nanometers (billionths of a meter), allowing:

  • More transistors on a single chip
  • Lower power usage
  • Faster performance

This advanced production gives Nvidia an edge in both speed and efficiency.

🌎 Wide Range of Uses

Nvidia’s technology isn’t just for gamers or AI researchers. Their GPUs power:

  • ✅ Scientific research (e.g., weather prediction)
  • ✅ Cryptocurrency mining
  • ✅ Data centers and cloud computing
  • ✅ Automotive (self-driving car systems)
  • ✅ Medical imaging and diagnostics

This versatility ensures huge demand for their chips.

🏆 Market Leadership and Ecosystem

Another reason Nvidia is #1 is its ecosystem.

  • Developers, researchers, and companies rely on Nvidia’s software and training tools.
  • Nvidia invests in research partnerships and industry standards.
  • They support academic research and startups building on Nvidia technology.

This creates a virtuous cycle:

✅ More developers use Nvidia → More software is optimized → More demand for Nvidia GPUs.

✅ Key Reasons Nvidia Leads

To sum it up, Nvidia’s computer chips are the best because of:

  • ⚡ Advanced parallel processing power
  • 🧠 AI-focused architecture like Tensor Cores
  • 💻 Industry-leading software (CUDA, cuDNN)
  • 🏭 Cutting-edge manufacturing via partners like TSMC
  • 🌎 Versatile use across gaming, AI, crypto, science, and more
  • 🏆 A strong ecosystem that supports developers and companies

💡 Conclusion

Nvidia’s GPUs have evolved far beyond their gaming roots. They now power everything from blockbuster video games to advanced AI research and cryptocurrency networks.

What makes Nvidia special is not just raw performance, but the complete package: hardware designed for the future, software that empowers developers, and an ecosystem that keeps them ahead of the competition.

As technology keeps advancing, Nvidia continues to lead the way, building the world’s most powerful and versatile computer chips.

Until next time,

Yogi Nelson

Uncategorized

AI Tools versus AI Agents: What’s the Difference.

Yogi Nelson

🤖

Welcome to the BlockchainAIForum where your technology questions are answered. Artificial Intelligence is everywhere, but the terms we use to describe it can be confusing. Two terms that often get mixed up are AI tools and AI agents. Though they sound similar, they reflect fundamentally different ideas. Therefore, today we explore the following question: AI Agents vs AI Tools: What’s the Difference?, and we do so in my usual way–friendly and jargon free.

🛠️ What Is an AI Tool?

An AI tool is like any other software tool—it’s designed to help you perform a task better or faster. Think of AI tools as advanced assistants that you control directly. They don’t make big independent decisions; they simply do what you tell them.

Examples of AI tools:

  • ChatGPT in its “normal” form (you give it a prompt; it gives you an answer)
  • MidJourney or DALL-E (you enter a description; it generates an image)
  • AI summarizers or translators

Key traits of AI tools:

  • User-directed: You have to tell them what to do, step by step.
  • Single-task focus: They do one thing at a time.
  • Predictable responses (usually): You know what you’re going to get most of the time.

Blockchain analogy: Think of an AI tool like a blockchain wallet. It doesn’t move your funds on its own. You sign the transaction; the wallet just executes it for you.

🧭 What Is an AI Agent?

Now let’s talk about AI agents. These are AI systems designed to act autonomously to accomplish goals. Instead of just responding to your commands, they can figure out how to achieve a result, choosing from multiple steps or strategies.

Examples of AI agents:

  • A travel-booking agent that can compare flights, hotels, and book the best options automatically
  • Customer-support bots that handle entire conversations end-to-end
  • Research assistants that plan and execute multi-step tasks (e.g., searching sources, summarizing, writing a draft)

Key traits of AI agents:

  • Goal-directed: You tell them what you want, not how to do it.
  • Autonomous: They plan and carry out steps on their own.
  • Adaptive: They may change approach if they hit an obstacle.

Blockchain analogy: If an AI tool is a wallet, an AI agent is like a smart contract that can execute a whole set of instructions once triggered, without constant human intervention.

📊 Side-by-Side Comparison

FeatureAI ToolAI Agent
User ControlFully manual, step-by-stepHigh-level goals given
AutonomyNone or minimalSignificant, plans its own steps
ComplexitySingle-step tasksMulti-step workflows
AdaptabilityLowHigh

🤝 Why Does This Difference Matter?

This isn’t just academic hair-splitting. The distinction shapes how we use, trust, and regulate AI.

Ease of Use vs. Risk

  • Tools are easier to understand and audit because they’re direct extensions of your command.
  • Agents can save time but may act unpredictably or in unintended ways.

Integration with Blockchain

  • AI tools can be combined with blockchain for straightforward tasks, like verifying data or signing transactions.
  • AI agents could manage entire decentralized processes—think DAO treasury management, contract negotiations, or supply-chain orchestration. That introduces both opportunity and risk, requiring new kinds of governance.

💡 How to Choose Between Them

When you’re thinking about adopting AI in your workflow or project:

✅ Use an AI tool if:

  • You want tight control.
  • Your task is simple or single-step.
  • You want easy auditing.

✅ Use an AI agent if:

  • The task requires multiple steps.
  • You’re okay with some autonomy.
  • You want to delegate strategy, not just execution.

🌐 The Future: Agents Built on Tools

The lines between tools and agents are also blurring. Many AI agents are built out of multiple tools working together. For example, an AI agent that researches for you might use:

  • A search API (tool)
  • A summarizer (tool)
  • A planner (the agent itself)

The most exciting future AI systems will combine these elements seamlessly, much like smart contracts combine blockchain primitives.

🤖 Final Thoughts

As blockchain and AI continue to merge, understanding this distinction will be essential. Whether you’re building decentralized science tools, blockchain marketplaces, or AI-driven DeFi agents, you’ll need to decide:

Are you building a tool that helps people do things better?
Or an agent that can do things for them?

That decision will shape not just your technology—but your responsibilities to your users and your community.

I end with a proverb from where they say: “A single bracelet does not jingle”. Share your thoughts below or on BlockchainAIForum.com.

Until Next Time,

Yogi Nelson

Artificial Intelligence, Blockchains, cryptography, Decentralized, Patents, Science, Uncategorized, Yogi Nelson

Access to technology is a human right, not a copyright

Yogi Nelson

Welcome to the BlockchainAIForum where your technologies questions are answered. Today, part three of the Unbound Science project is on the menu. In this final series, I cover the project in greater detail, including: challenges facing science, maintaining organizational governance and financial independence, platform economics, and more!

At Unbound Science we believe scientific research has never been free to truly explore the unknown and we have made it our mission to unbind science. Throughout the course of human society, science has been subjected to control for reasons that include ideological, political, religious, and of course economic. The Unbound Science platform encourages imagination and fringe experimentation. However, some knowledge could be catastrophic in the wrong hands. Potentially dangerous research proposals, including but not limited to military weapons, experimentation with black holes, nuclear energy, and DNA modification, therefore will not be permitted. 

Challenges Facing Science: Unbound Science proposes to address the six most pressing challenges facing independent science research:

Corruption: Until now, science has been dominated by agenda-based research. Facts have been created in controlled experiments, as opposed to funding open experimentation to discover the actual truth. Unbound Science has come up with a way to disintermediate the donor’s agenda.

Security: Undoubtedly, scientific research that destabilizes the status quo can jeopardize the security of scientists. Scientists who disrupt society through their inventions could face security threats from business/government incumbents who fear losing oligopoly market power, or ideological fanatics who are enemies of progress.

Preservation: Stop for a second and consider all the science humanity has lost due to destruction, be it natural or man-made. Lost science is a crime against humanity. Unbound Science is committed to do its part to end the tragedy of lost science research.

Finance: Financial independence is nearly impossible for the vast majority of scientists. Often scientists spend inordinate time soliciting grant applications and thereafter submitting monitoring reports to the handful of granting institutions.

Subjugation: Unbound Science envisions an end to the current system where new technologies allow one society to take great advantages over all others, and remove their freedoms and even their own ability to advance as a society. It has taken generations and even centuries for subjugated peoples to even get back to zero, let alone be able to compete on the global stage. By empowering the entire workforce of 8 billion people on the planet with the same access to tools and capabilities, human progress can accelerate forward like never seen before.

Distribution: One marketplace to share plans and rights across the world, in a single click! Scientists can generate recurring revenue from different contracts, including consulting, licensing, and leasing their IP. They can track all their clients and royalty payments from one place, instead of having to worry about cheap knock-offs and lawsuits hampering the true representation of their work.

Solutions to the Challenges Facing Science

Complex problems require comprehensive solutions. Hence, Unbound Science proposes an open-source scientific research platform, driven by and for the community. Our summarized solutions to the sxi challenges are listed below:

Addressing Corruption: We surveyed which sectors could provide the largest amount ofdisruption and benefit to mankind, and have not yet been adequately addressed by traditional science, Open-Source Science, or DeSci yet. Therefore, we’ve selected four areas to start, with more potentially being added later. At platform launch, benefactors may elect to contribute to one of four pools:

  • Energy
  • Food Technology (air, water, soil)
  • Pollution (focus on clean-up)
  • Quantum Research

Instead of a benefactor donating directly to a project listed on a proposal board, the funds are donated to a pool. These funding pools are controlled through votes, with different weights given to donors, scientists, partnership science foundations, and the Open-Source Science community. These donation pools are powered by cryptocurrency, and legally owned by a tax-optimized entity for issuing tax write-offs to donors (where applicable).

Addressing Security: Scientists may opt to stay anonymous or pseudonymous, building an on-chain reputation and be judged solely by the merits of their work, both for their physical protection and for the sake of fairness. If you can do the work, your formal educational background (or employment) does not matter. Of course, a scientist with an already prestigious track record may choose to display their full personal information, for the sake of obtaining funding and asserting a greater influence.

Addressing Preservation: To participate, scientists agree to upload all research data, notes, blueprints, and final instructions for replication to blockchain(s). Scientists can choose a variety of mechanisms for when to begin sharing this data, such as keeping it private until their work is complete, or their life is presumed to have ended.

Addressing Finance: The platform features a “YouTube-like” interface, with a game-show-atmosphere experience for scientists to pitch concepts to a rotating panel of judges, who host the funding competition in seasons, each with several phases. Scientists no longer have to fill out an enormous application and wait six months for a few thousand dollars. They can simply submit a 5—8 minute video describing their idea. Winners in phase one are awarded their requested budget to develop a Proof of Concept. Winners in Phase 2 are given their requested budget to create a final prototype ready for mass production. Winners in Phase 3 are awarded their requested budget to create a mass production factory and further innovation laboratory.

Addressing Subjugation: In return for funding, scientists must declare their inventions open-source, and share all of their experiment data, processes, and all other documentation for anyone to use and copy without restrictions. Winning scientists will earn revenue from the creation of “originals”, consulting contracts, and leftover general prize money. One of the other benefits of releasing open-source technology is that scientists do not also have to become international business owners in order to achieve success. By sharing the technology, they do not need to open their own factory and deal with all the costs and headaches of starting a global manufacturing enterprise. Their vision becomes reality a lot faster, cheaper, and there are still plenty of profits to be made for the scientist.

Addressing Distribution: A marketplace is available for sharing buttoned-up packages of building plans and licensing agreements for worldwide production and distribution by third-parties. Open-source licensing for individuals, leasing of IP in exchange for royalties from corporations and governments, as well as consulting contracts to ensure the production is done at the highest of quality. Scientists can track all their business relationships through one place.

Maintaining Organizational Independence:  Voting Caps and Weights

To prevent any particular group from dominating the process, Unbound Science has decided to put limits on the number of tokens that can be used to vote, per project. For instance, there will be a cap of 100,000 tokens for general users, 150,000 for admins, 200,000 for scientists, 500,000 benefactors.

Unbound Science seeks to allow everyone to have a voice in what gets brought into the world. However, some voices should be amplified given their dedication, commitment, actions and participation. Hence, user actions can achieve milestones to unlock new features, higher voting caps and voting weights. The actual milestones will be finalized after the beta launch, and based on community suggestions. Below is a hypothetical example:

The benefactor limit is 500,000 tokens at a time with which they can use to vote on a single proposal. If a benefactor reaches a milestone of $1m USD donated, their voting cap raises beyond 500,000, to 1,000,000. Actual milestones will be finalized after the beta launch, and based on community suggestions.

Further examples of specific actions that might unlock higher caps: user votes in every season within a calendar year, scientists get nominated to game show, scientists become game show finalists, scientists win the game show, scientist data passes peer review, users hit pre-determined milestones for watching videos (e.g. 1,000, 5,000, or 10,000 hours etc.) and Admins successfully filter out 100+ pieces of spam and/or fake data.  Weights (counted as a multiplier of tokens used in their vote)

  • Top 30 Most Active Benefactor Wallets: 2x
  • Scientists who have contributed research: 1.5x
  • Scientists who have been game show finalists: 2x
  • Scientists who have won the game show: 3x
  • New scientists this season: 1.4x
  • New community members this season: 1.2x
  • Scientists with more than 1 year of participation: 1.1x
  • Community members with longevity: 1.0x
  • Admin votes: 1.0x
  • Wallets with transactions from to banned/suspended/muted users: 0.5x for the amount sent to them.

Maintaining Financial Independence:  Handling Donations

Benefactors send USDC, USDT, DAI, ETH, WBTC, MATIC, BNB, AAVE, LINK, COMP, UNI, MKR, or SNX to the inbound vault. The price of assets are calculated against the benefactor’s local currency, and a 503c donation document is generated and emailed to the donor. Non-stable assets are deposited into Aave, Compound, and Venus vaults, where they will be used as collateral to borrow stablecoins if needed to replenish the pool’s spending, otherwise they will be left to earn interest and appreciate over time. Stable assets will transfer to cold storage via MPC vaults. This will be a manual process, handled by platform management, on behalf of the pool owners (consortium of non-profit organizations).

Empowering Scientists

The current science funding system is sub-optimal and characterized by long applications, needless forms, and busy-body gatekeepers that take months or years to come to a decision on whether or not to sign off on financial support. The Unbound Science way gathers funding from the public, then lets members of the public and scientific community work together to vet and allot financial support in a more streamlined, transparent, and easy to participate manner.

Like a TV show, funding is handled in seasons. Each season has a show-host and a panel of judges, selected from the community, by the community.

  • The first phase of a season qualifies proposals from scientists or requests from the community.
  • The second phase of a season announces approved proposals from Phase 1. Preliminary funding is requested by the scientist and given approval or adjustment by the judges handling this season. This funding is intended to give a scientist support for a Proof-of-Concept or Minimum Viable Product.
  • The third phase votes on which scientists will be funded to finish solving the problem. Not every team will be ready at the same time, and may delay their participation into future seasons whenever they are ready, without further qualification.

Approved funds will be sent in USDC or USDT to scientists via newly generated vaults (i.e., Cardano), separated by team, and per project. This helps minimize security risks and also makes accounting an easier process than if all funds lived in the same vault. Stablecoins can be off-ramped into fiat, through Ethereum bridges like Jagon and Wanchain. Funding in vaults is unlocked during various epochs, to ensure lapses in development and abandoned projects are not rewarded. More details on epochs below.

Progress Reporting

Approved and funded proposals have a page created where they can be tracked publicly, with regular updates and achieved milestones required to qualify for the release of the team’s next epoch of funding. Data must live on a non-censorable decentralized third-party platform; Notion or Asana links are considered invalid. Updates are received in PDF format which is indexed by IPFS, Arweave, and Spacemesh for immutability. Physical storage (not just the metadata) is suggested to live inside web3-native storage enclaves like Internet Computer or Iagon. Upon an update being accepted by the community, funding for the next epoch is unlocked and made available.

Research essentials must be uploaded and stored on-chain as open-source with the full intent of helping future generations of scientists. This includes materials lists, notes, diagrams, blueprints, schematics, code, graphics, trials data, metadata, and anything else of importance (excluding names of participants and sources of materials).

User Accounts

Every user signs up with a general community account – everyone starts in the same place.

There are 4 types of user accounts:

  • General Community
  • Scientists
  • Donors
  • Admins

General Community users can earn platform tokens for:

  • Watching videos
  • Liking videos
  • Commenting
  • Hitting milestones in discussion forums and on-site time
  • Consistent voting during live shows

Scientists can earn platform tokens for:

  • Uploading videos
  • Uploading documentation
  • Participating in peer review discussions
  • Being selected to participate in the game show (as contender or judge)
  • Advancing to the 2nd or 3rd round in the game show
  • Successfully voting out scams/fake content
  • General Community actions

Benefactors can earn platform tokens for:

  • Making contributions to donation pools
  • General Community actions

Admins can earn platform tokens for:

  • Removing spam/fake content
  • Being voted in as a game show judge
  • More General Community actions to be determined at a later date

User accounts are private by default. Nevertheless, users may elect to make certain elements of their profile and user data available for the public to see. For instance, users may link existing web3 wallets via WalletConnect, rather than making a whole new identity. Users may self-identify their account type, and fill in profile information if they wish for this information to be shared with the public.

Benefactors

The ideal benefactors are passive donors looking for tax incentives, and the scientifically curious. Traditional science funding sources, e.g. governments, foundations, and private institutions are welcome and encouraged to participate.

Unbound Science recognizes that traditional funders may opt out lacking control over decision authority. As an entry point to facilitate a transition, Unbound Science may encourage traditional funders to consider the Visionary NFT acquisition option. This option may be the preferred route, for passive revenue sharing and aligning incentives. The platform also encourages “retail users” looking for tax write-offs and seeking to apply their money towards making the world better, faster.

Upon confirmation of the transaction, the donor’s wallet will receive an NFT certificate that functions as a receipt and states the amount of the donation with a thank you message.

A yearly leaderboard will track the top five donors and they will be issued a special NFT, which is soul-bound to the donor’s wallet. These special NFTs are likely to attract airdrops and invitations from other projects who wish to do business with scientific donors. Furthermore, these NFTs will be minted on Ethereum main net, as it is most prestigious and likely to attract quality airdrops. The soul-bound aspect means they cannot be sold or moved. They will be minted/destroyed as the leaderboard updates. It is a temporary digital badge/trophy, as opposed to the tax-break receipts, or scientific data dynamic NFT containers, which are immutable and forever.

Benefactors will be informed and must comprehend a critical fact: Unbound Science works as a pool of liquidity. Once donated, benefactor funds will be pooled together into one commingled account. In other words, the design of Unbound Science is for benefactors to provide funding to a liquidity pool, as opposed to a common experience on similar donation websites, where each individual funding their own accounts and then choosing where to grant those funds. Unbound Science is doing things differently. Each of the four starting subject matters (Energy, Pollution, Air/Water/Soil, Quantum) have their own liquidity pool from which the community votes how much to give in grants and to whom.

Example:

Whale A donates $100, and receives 100,000 number of voting tokens. With his/her tokens Whale A decides to vote for Proposal A, using all 100,000 tokens. Community donations are pitiful this season, and raise only an additional $100. Community receives 100,000 tokens split among participating members. Community votes to reject Proposal A, but approves Proposal B to receive 100% of the season’s pool. Community participants had a higher voting weight so the vote swung in favor of the community. Also voting caps limited Whale A’s total vote to 1% of the entire vote. Whale A’s entire donated funds have been allocated to Proposal B. Whale A’s gets refunded and his/her new balance sits at 999,000 for future seasons.

Scientists

Current research is funded by institutions and universities which then retain all the rights and intellectual property. Just consider when was the last time we heard about a person or small team of people inventing something? Almost never. It’s always this corporation or that university. Unbound Science returns credit and control back to the individuals and groups who put in the work. Everything is undergoing a digital decentralized revolution; science should not be left behind.

Scientists will sign up on the platform with their personal information and credentials via third-party plugins. Once verified, the information will be encrypted and stored on-chain. Scientists may selectively divulge information to the public, or remain anonymous, only showing a pseudonym and degree status. Scientists may check or uncheck whether or not they are willing to collaborate with other scientists who have similar proposals or ongoing research. Scientists who are willing to collaborate are given a special badge on their profile, and an extra 10% voting cap over those who are unwilling. Universities who are recognized leaders in research and research fundings, who have led the way previously, will be invited to participate in this new way of doing things, even though this method of conducting fundraising may be laughed away at first, as was Bitcoin in finance, or cloud computing in tech.

Technology Distribution

When the research is complete, scientists will upload their compiled data to a marketplace where it can easily be licensed by global manufacturers or governments, or may be used freely if the scientist elects. The scientist can keep track of their consulting contracts, royalty payments, licensing fees, and open-source contracts all in one place.

Under The Hood

Unbound Science is a web-based application that rides on top of several different web3 technologies. The scientific research itself requires rigid and publicly supported blockchain with years of decentralization and proven security, while identity, data storage, marketplaces, and IP management are served up from a redundant array of options.

Currently involved in the development stack: Secret Network, Flux, Optimism, Fileverse, Story Protocol, Internet Computer, Arweave, Evoke Marketplace, and more. Essentially, anything that can be connected via Secret Network’s “Secretpath” between Ethereum, Solana, and Cosmos can be easily integrated.

Emerging Market

The Unbound Science team conducted comprehensive research on market conditions and possible competitors. We discovered two critical facts and those were the guiding lights as we formulated our project. First, there is a unmet need in the marketplace for this service. The evidence is the existence of four other market participants in this space. Second, as described below, existing market participants are not truly comparable to Unbound Science on matters that are materially important. For instance, only Unbound Science proposes decentralization, security, community, and sensible tokenomics as core principles. Hence, Unbound Science is the only known project capable of meeting the market demand. The other market participants are as follows:

  • ​Recerca​ – fundraising tool for research. They do many things very well, including winning 2nd prize at the Hedera X Filecoin Grant Program. The shortcomings Recera suffers is insufficient decentralization by design. Moreover, the Recera project does not feature tax incentives and they failed to solve the headaches of needlessly lengthy, dull and monotonous funding applications. Council still acts as gatekeepers to donation.
  • ​Experiment.com​ – fundraising tool for research. Donors can browse research proposals and causes, and donate in accordance with their concerns. This project resembles a kickstarter marketplace design. The project does not adequately solve centralization issues, nor application issues, nor is it built on web3 technology that can operate independently. Furthermore, there are no associated tax incentives.
  • ​inTheory Research Markets​ – funding tool for research and reputation. The platform allows scientists to create patents and pieces of research as NFTs thus facilitating research financial transactions. Last, the platform allows licensing or purchasing of intellectual property (IP).
  • ​Molecule​ – Similar to Experiment.com, but focused only on BioMed research. Raised a $13M seed.

Platform Tokenomics. Tokens are created for voting and earning achievements on the platform. These are not intended to be used for investment, speculation, expectation of profit, trade, or ownership of Unbound Science. The community may use their accumulated pile of tokens to vote for their favorite science proposals. Gamified tasks will be a fluid evolution to continuously keep the community engaged, but may represent milestone achievements through hours of video watched, comments made, finding hidden easter eggs around the site, etc.

Total Supply: 1,000,000,000 platform tokens

Platform Token Emissions: To be determined.

“It’ll take a lot more than words and guns
A whole lot more than riches and muscle
The hands of the many must join as one
And together we’ll cross the river.”
– Puscifer, The Humbling River

Follow us on X ​@unboundscience​

Until next time,

Yogi Nelson