Open Campus Secures Arbitrum Foundation Grant to Launch EDU Chain for Education
Joerg Hiller Jul 03, 2024 17:38
Open Campus receives a grant from the Arbitrum Foundation to launch EDU Chain, a Layer 3 blockchain dedicated to education.
Open Campus has announced the receipt of a significant grant from the Arbitrum Foundation to support the launch of EDU Chain, the first Layer 3 (L3) blockchain tailored specifically for the education sector. This groundbreaking initiative is set to revolutionize the educational landscape by integrating blockchain technology into learning environments, according to Animoca Brands.
EDU Chain: A New Paradigm in Education
EDU Chain, an L3 Rollup built on the Arbitrum Orbit Stack, aims to foster a decentralized application (dapp) ecosystem for learners and educators through blockchain-powered ownership. This innovative “Learn Own Earn” model will enable the recording of learning achievements on-chain, expanding education finance solutions, and facilitating the development of dapps by leveraging Open Campus’s extensive network of over 60 education and Web3 partner companies.
Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the transformative potential of this initiative: “This grant is an exciting step forward in the vision of Open Campus and EDU Chain to use blockchain technology to address current problems and challenges in education. The support of and collaboration with the Arbitrum Foundation positions us to redefine the education industry, leveraging the power of decentralization and the Arbitrum ecosystem to enhance access to and opportunities in education for both learners and educators.”
Arbitrum Foundation's Role and Impact
The Arbitrum Foundation’s grant will not only fund the launch of EDU Chain but also support the Arbitrum Ambassador Program. This includes educational content initiatives and participation in Arbitrum hackathon competitions, offering incentives to developers creating dapps for EDU Chain. Nina Rong, Head of Ecosystem Development at the Arbitrum Foundation, remarked, “We are thrilled that Open Campus will launch EDU Chain as an L3 on the Arbitrum Orbit Stack. EDU Chain marks an exciting step in the Arbitrum ecosystem, showcasing the Foundation’s dedication to nurturing a decentralized educational hub within the Arbitrum network.”
EDU Chain transactions will settle on Arbitrum’s Layer 2 (L2) scaling solution for Ethereum, providing Ethereum-level security with enhanced scalability through faster and cheaper transactions. According to data from L2Beats, Arbitrum has the highest Total Value Locked (TVL) among all L2 networks, approximately $17.15 billion, making it the fifth-largest blockchain protocol.
Collaborative Efforts and Future Prospects
Open Campus plans to utilize its network to drive participation in EDU Chain, including recording learning achievements on-chain and developing innovative education finance solutions. The collaboration will also involve connecting 96 active Arbitrum ambassadors and 26 affiliated universities with the Open Campus Foundation to work on educational content.
To learn more about EDU Chain, visit the Open Campus website.
About Open Campus: Open Campus is a community-led protocol for educators, content creators, parents, and students, fostering a collaborative environment that empowers educators and students. It recognizes the achievements of teachers and content creators, opening new revenue streams for effective educators worldwide.
About The Arbitrum Foundation: The Arbitrum Foundation supports the Arbitrum ecosystem and ArbitrumDAO, fostering innovation and development within the Arbitrum community. The Foundation ensures compliance with regulations, facilitates transactions and agreements, and supports infrastructure for ArbitrumDAO.
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