Open Campus Announces $1M Hackathon to Promote dApp Development on EDU Chain

By 2023, the global blockchain in education market was projected to reach $1.34B. 59% of higher education institutions have adopted or are considering adopting blockchain technology.

Education protocol Open Campus has announced a $1 million hackathon to promote decentralized app (dApp) development on EDU Chain.

According to a Worldmetrics report, the global blockchain in education market was projected to reach $1.34 billion by 2023. Furthermore, 59% of higher education institutions had adopted or were considering adopting blockchain technology.

Open Campus' Codex Hackathon series aims to support dApp development in this sector through EDU Chain, whose mainnet is expected to go live later this year.

"EDU Chain is the first decentralized blockchain for education built by Open Campus and is designed to drive the democratization of education and to empower all participants to contribute to and benefit from the decentralized future of education," an Open Campus spokesperson told crypto.news.

The hackathon will commence on July 8, 2024, as per press releases shared. The event is supported by renowned companies like Animoca Brands, TinyTap, and ForbesWeb3.

The hackathon will span three semesters. The first semester will focus on launching decentralized finance (DeFi) and infrastructure applications. The second semester will target the development of education dapps, while the third will revolve around developing education finance dapps and on-chain credential applications.

The event will offer prize money of US $1 million in EDU tokens, the native cryptocurrency of EDU Chain.

Winners will also secure a place in a special developers cohort of the Open Campus accelerator program, granting them access to an additional "$100,000" in funding per project, along with compliance assistance, marketing, and developer support.

Dapps created during the hackathon will be available to "over 500,000" Open Campus ID holders, its decentralized identifier (DID).

"The invitation into the Open Campus accelerator program and exposure to Open Campus ID learners amplifies the reach of the winning dapps and significantly enhances their potential to have a meaningful impact in the education sector through additional funding and support," the spokesperson added.

This announcement follows Animoca Brands' announcement a month ago regarding plans to buy more EDU, the project's native token, from the open market. Open Campus also raised $3.15 million from Binance Labs in November 2023.