Open Campus Receives Grant Funding From Arbitrum Foundation To Bolster EDU Chain Development
In Brief
Open Campus has received grant funding from the Arbitrum Foundation to fuel EDU Chain, specifically designed for educational purposes.
Decentralized education platform Open Campus announced that it has received designated grant funds from the Arbitrum Foundation, an organization dedicated to developing the Arbitrum blockchain ecosystem. These funds will support the creation of EDU Chain, a Layer 3 blockchain specifically designed for educational purposes.
The EDU Chain adopts the “Learn Own Earn” model, aimed at establishing a framework of decentralized applications (dApps) for both learners and educators. Open Campus plans to leverage its network, which includes more than sixty education and Web3 partner companies with a collective user base of 20 million learners, to encourage engagement in the EDU Chain ecosystem. Additionally, it plans to facilitate on-chain recording of learning achievements, foster innovative educational financing solutions developed by Open Campus, and collaborate with partners to create and deploy dApps on the EDU Chain platform.
The EDU Chain is operating as an Arbitrum Orbit Stack Layer 3 rollup, facilitating Layer 3 transactions to settle on Arbitrum’s Layer 2 scaling solution for Ethereum. This setup ensures transactions benefit from Ethereum-level security while enhancing scalability through faster and more cost-effective transaction processing.
Additionally, through the grant, Open Campus aims to bolster the Arbitrum Ambassador Program by initiating educational content initiatives and actively engaging in Arbitrum hackathon competitions. These efforts are designed to incentivize developers who contribute to the creation of dApps for the EDU Chain platform.
Open Campus Advances Innovation In Education With EDU Chain
Open Campus represents a decentralized platform whose goal is to tackle challenges within the education sector. Functioning as an ecosystem, it facilitates connections among learners, educators, content creators, and educational institutions, promoting joined work and the creation of value across the educational landscape through blockchain. The project emerged through collaboration among Animoca Brands, TinyTap, GEM Education, and other partners.
It initially introduced the EDU Chain in April, inviting builders to craft dApps in accordance with the “Learn Own Earn” model on the platform.
Recently, the Open Campus community has approved the OCP-9 proposal, authorizing the allocation of $10 million from the Open Campus ecosystem fund towards acquiring verification nodes from other ecosystems.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
