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Open Campus, an education protocol supported by Animoca Brands, Sequoia Capital, and Binance, revealed the forthcoming sale of Principal Nodes for the EDU Chain. EDU Chain, a Layer 3 blockchain designed specifically for education, will see its node sale split into a pre-sale and a public sale, with details emerging in June. Globally, individuals and entities are encouraged to participate in EDU Chain by operating nodes and earning rewards for their contributions. For more information, visit the Open Campus website.
Open Campus aims to transform education by tackling issues of accessibility and quality. By storing educational data on the blockchain, learners gain full control over their academic records. This system also enhances recognition and compensation for educators’ efforts. At the heart of EDU Chain is the “Learn Own Earn” model, which seeks to create a robust ecosystem of decentralized applications (Dapps) for both learners and educators.
Principal Nodes on EDU Chain play a crucial role in securing the network. These verifier nodes review and verify transactions before they are confirmed on the blockchain. Participants in the Principal Node Sale can join a decentralized education ecosystem where learning, owning, and earning are enhanced by Web3 technology.
Yat Siu, co-founder and executive chairman of Animoca Brands and member of the EDU Foundation Council, stated: “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. Through the decentralization of EDU Chain we can help to democratize education and empower all participants — learners, educators, edtech innovators — to contribute to and benefit from the future of this field.”
Jonah Lau, head of Portfolio at Animoca Brands, added: “EDU Chain is a Layer 3 that is redefining the educational landscape by pioneering a ‘Learn Own Earn’ model on blockchain. 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. EDU Chain not only introduces innovative ways for learners to enhance their skills but also unlocks new earning opportunities, affirming the value of education as an asset for life.”
The Principal Node Sale for EDU Chain is structured to incentivize early participation through a tiered pricing model. Node prices will increase across multiple tiers, encouraging prompt engagement. A portion of sequencer fees will be allocated to Principal Node operators for their role in validating transactions. Additionally, Principal Nodes will become transferable one year after the sale. The dates for the pre-sale and public sale will be disclosed in June 2024.