On-chain education platform, Open Campus has launched its layer 3 blockchain network, Edu Chain on Arbitrum Orbit. The firm unveiled the network on Friday via a post on its official page on X.
More so, the new layer 3 blockchain will help support the development of educational applications and nurture an on-chain educational ecosystem powered by the EDU token. As revealed, EDU will function as the native crypto of the network providing holders access to all educational tools within the ecosystem.
According to the statement, the token is currently listed on Binance and serves as the governance token of the Open Campus decentralized autonomous organization. As part of the launching campaign, Open Campus is running a stake-to-earn campaign for EDU, rewarding holders with good APY by staking the token on the mainnet network.
Despite launching today, the Edu Chain is already attracting decentralized applications according to the announcement. The post revealed that more than 100 dApps are currently building on the network with majority in their mainnet stage.
The announcement highlighted some of the notable features of the project. At its core, the Edu Chain has an Open Campus Verifiable system that supports tertiary institutions and other educational centers to issue decentralized, tamper-proof certificates for their students.
Yat Siu Key Insight on Key Insight of Open Campus Achievement System
Meanwhile, the Open Campus is backed by Animoca Brands executive chairman, Yat Siu who serves as a council member of the Edu Foundation. In his submission, Yat Siu provided more insights into the functionalities of the Open Campus Achievement system.
The web3 enthusiast said the innovation is self-sovereign and it stores users’ credentials in their web3 wallet. The expert added that only the learner can access and control the data, eliminating the possibility of third parties gaining entry to the records.
Yat Siu opined that the key feature will help users to personalize their experience and selectively share their academic achievements. On the flip side, the co-founder of Animoca Brands explained that with the Open Campus Achievements system, educational institutions can easily verify academic credentials.
He illustrated how the platform will support educators to monetize their content, converting their knowledge into capital assets. Likewise, Yat Siu elucidated how AI-backed projects are growing to deliver personalized and adaptive learning.
Additionally, the executive chairman said the synergy of artificial intelligence, web3, and education will bring significant changes during the year. He stated that the combination of AI and web3 for educational purposes will bring a new dimension that will influence the world education system.