A new experimental journal called ResearchHub Journal is changing how peer reviewers are compensated by paying them $150 per review in a special cryptocurrency called ResearchCoin. Founded by Brian Armstrong, the creator of Coinbase, the platform aims to make scientific research more open and efficient. Authors pay a $1,000 fee to publish their work, and in return, they can earn ResearchCoin for good research practices. ResearchHub promises fast peer review and publication, but experts warn that its radical approach may face challenges in the conservative world of academic publishing. While some researchers find reviewing for this journal financially rewarding, concerns about cryptocurrency scams may hinder its acceptance.
An Experimental Journal Pays Peer Reviewers in Cryptocurrency
A new experimental journal called ResearchHub Journal is making waves in the academic community by offering peer reviewers a unique payment method: cryptocurrency. Each reviewer can earn the equivalent of $150 for their contributions in a digital currency named ResearchCoin. This innovative platform, supported by Brian Armstrong, the CEO of Coinbase, aims to revolutionize how scientific research is conducted and rewarded.
ResearchHub was launched in 2020 with the vision of creating a more open and efficient system for sharing scientific knowledge. Armstrong, expressing frustration with traditional research methods, believes that scientists should be compensated for their efforts, especially in peer review, which has historically been unpaid. He argues, “It’s a valuable thing that they do, and we should recognize and reward it.”
Peer Review Process on ResearchHub
The ResearchHub Journal promises quick turnaround times. Papers submitted for review will be assessed within 14 days, and publication decisions will follow seven days later. While authors need to pay a $1,000 fee for article processing, the journal is designed to benefit the scientific community as a whole.
Interestingly, users can also earn ResearchCoin by engaging in good research practices, such as preregistering their studies and sharing data. This creates an ecosystem where contributions to science are not just limited to publications but also include vital aspects like peer review and community engagement.
Challenges Ahead
Despite the benefits, experts warn that the model may face hurdles in gaining acceptance in the academic world. Initiatives that challenge traditional publishing systems often struggle to break through. Nevertheless, some researchers, like Pedro Paulo Gattai Gomes, have found reviewing for ResearchHub financially rewarding, earning significant income from their efforts.
Experts caution that the cryptocurrency angle may make the platform seem risky. Many academics are hesitant to embrace cryptocurrency due to past scams in the space. However, the potential for a new model that rewards input and evaluation in science is an exciting prospect for many.
The future of peer review could be transformed by this innovative approach, and ResearchHub is at the forefront of this change. As more researchers consider the benefits of being compensated for their critical roles, the landscape of scientific publishing might be on the brink of a significant evolution.
Tags: Cryptocurrency, Peer Review, ResearchHub Journal, Open Science, Scientific Publishing.
What is the peer review process for journals paying in cryptocurrency?
In this process, experts read and evaluate submitted articles to ensure they meet quality standards. Instead of traditional payment, reviewers get paid using cryptocurrency.
How does a reviewer get paid in cryptocurrency?
Once a peer review is completed, the journal sends payment in cryptocurrency directly to the reviewer’s digital wallet. Reviewers provide their wallet information during registration.
Is the payment amount for peer review fixed or variable?
The payment for peer reviews may vary depending on the journal and the complexity of the article. Some journals have set amounts, while others may offer different rates based on various factors.
What cryptocurrencies are accepted for payment?
Different journals may accept various cryptocurrencies like Bitcoin or Ethereum. It’s important to check the journal’s guidelines to see what options are available.
Are there any tax implications for earning cryptocurrency as a reviewer?
Yes, earning cryptocurrency can have tax implications just like any other income. Reviewers should consult a tax professional to understand their responsibilities.
