  Peer review is a cornerstone of modern scientific endeavor. However, there is
growing consensus that several limitations of the current peer review system,
from lack of incentives to reviewers to lack of transparency, risks to
undermine its benefits. Here, we introduce the PRINCIPIA
(http://www.principia.network/) framework for peer-review of scientific outputs
(e.g., papers, grant proposals or patents). The framework allows key players of
the scientific ecosystem -- including existing publishing groups -- to create
and manage peer-reviewed journals, by building a free market for reviews and
publications. PRINCIPIA's referees are transparently rewarded according to
their efforts and the quality of their reviews. PRINCIPIA also naturally allows
to recognize the prestige of users and journals, with an intrinsic reputation
system that does not depend on third-parties. PRINCIPIA re-balances the power
between researchers and publishers, stimulates valuable assessments from
referees, favors a fair competition between journals, and reduces the costs to
access research output and to publish.
