Open Campus Launches First Decentralized Education Node Sale - Blockchain.News

Open Campus Launches First Decentralized Education Node Sale

Darius Baruo May 23, 2024 09:12

Open Campus announces the sale of Principal Nodes for its EDU Chain, a Layer 3 blockchain designed for education.

Open Campus Launches First Decentralized Education Node Sale

Open Campus announces Principal Nodes sale for EDU Chain

Open Campus, an education protocol backed by Animoca Brands, Sequoia Capital, and Binance, has announced the upcoming sale of Principal Nodes for the EDU Chain. The education-focused blockchain is preparing for a pre-sale followed by a public sale, with detailed information expected in June, according to a press release from the company.

EDU Chain: A Blockchain Solution for Education

EDU Chain is Open Campus’s Layer 3 blockchain specifically designed for education. It aims to overcome current issues in education systems by improving the accessibility and quality of education. By storing educational data and achievements on the blockchain, learners gain complete control and ownership over their academic records. The system also enhances recognition and compensation for educators.

Principal Nodes: Safeguarding the Network

Principal Nodes act as verifier nodes on the EDU Chain, ensuring the authenticity of transactions before they are confirmed to the blockchain. Through the Principal Node Sale, participants can join the decentralized education ecosystem where they can learn, own, and earn in novel ways unlocked by Web3 technology.

Reinventing Education with Blockchain

Yat Siu, Co-founder and Executive Chairman of Animoca Brands and a member of the EDU Foundation Council, highlighted the benefits of the EDU Chain. 'Open Campus seeks to reshape the education ecosystem to make it more inclusive, equitable, and accessible. We believe that blockchain technology can unlock significant opportunities on a global scale for learning, earning, and teaching,' Siu said.

Jonah Lau, Head of Portfolio at Animoca Brands, also praised the EDU Chain. 'This initiative is positioned at the heart of the rapidly growing three billion-dollar blockchain education market, initially addressing over 20 million learners already in Open Campus's partner network,' Lau said.

Details of the Principal Node Sale

The Principal Node Sale for EDU Chain is structured to encourage early engagement through a tiered approach, with node prices ascending per tier across multiple tiers. Principal Node operators receive a share of sequencer fees for their help in validating transactions on EDU Chain. The nodes become transferable one year post-sale. The dates of the pre-sale and public sale will be announced in June 2024.

Image source: Shutterstock