Open Campus launches $1m hackathon to drive educational dApp innovation

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As a seasoned crypto investor with a keen interest in the education sector, I’m thrilled to see Open Campus taking the lead in promoting decentralized app (dApp) development on the EDU Chain through their Codex Hackathon series. The potential of blockchain technology in education is enormous, and it’s no secret that the market is poised for significant growth. According to a recent Worldmetrics report, the global blockchain in education market is projected to reach $1.34 billion by 2023, with over half of higher education institutions considering adoption.

As an analyst, I’m excited to share that Open Campus, the decentralized education protocol, has recently announced a $1 million hackathon. The goal of this event is to foster the creation of innovative decentralized applications (dApps) on the EDU Chain. By participating in this hackathon, developers have the opportunity to build and showcase their projects that align with Open Campus’ mission to revolutionize education through decentralization.

According to a Worldmetrics study, the international market for blockchain technology in education is anticipated to amount to approximately $1.34 billion by the year 2023. Additionally, it was disclosed that around 59% of colleges and universities are either already implementing or contemplating the use of this technology.

The Codex Hackathon series hosted by Open campus aims to strengthen the creation of Decentralized Applications (Dapps) within this field using EDU Chain. The mainnet is projected to become operational towards the end of this year.

“I’ve learned that EDU Chain is the initial decentralized blockchain for education created by Open Campus. It’s intended to foster the democratization of education and grant every participant the power to contribute to and reap the benefits of the decentralized education system’s future.”

Based on the information in the press releases, the hackathon is slated to commence on July 8, 2024. Notable companies, including Animoca Brands, TinyTap, and ForbesWeb3, are supporting this event.

During the next three academic terms, the hackathon will cover different areas. In the first term, we’ll concentrate on initiating decentralized finance (DeFi) and related infrastructure projects. The second term will be dedicated to creating educational applications (dapps). Lastly, in the third term, our focus will shift towards designing education finance dapps and on-chain credential systems.

At the upcoming event, a total reward of US $1 million in EDU tokens, which is the native cryptocurrency of the EDU blockchain, will be up for grabs.

Successful applicants will additionally join our exclusive developers community of the Open Campus accelerator, granting them access to an extra $100,000 worth of funding per project. This advantage comes with regulatory guidance, marketing resources, and technical assistance for their development projects.

At the hackathon, over 500,000 Open Campus ID holders would have the ability to access the developed Dapps through their decentralized identifiers (DIDs).

The spokesperson continued, “Receiving an invitation to join the Open Campus accelerator program and interacting with Open Campus ID learners expands the reach of successful dapps. This interaction significantly boosts their ability to make a substantial difference in education by providing extra financing and resources.”

Approximately a month following Animoca Brands’ declaration of purchasing additional EDU tokens from the public market, Open Campus secured a investment of $3.15 million from Binance Labs in November 2023.

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2024-07-08 16:02