Open Campusto has announced a $1 million hackathon to encourage the development of decentralized apps, or dApps, on the EDU Chain.
 The global blockchain in the education industry was expected to reach $1.34 billion by 2023, according to a Worldmetrics analysis. Additionally, it was stated that 59% of universities have either implemented blockchain technology or are considering doing so.
Through EDU Chain, Open Campus’s Codex Hackathon series aims to support Dapp development in this industry. It is anticipated that the mainnet will launch later this year. An Open Campus representative stated.
“Open Campus created the first decentralized blockchain for education, called EDU Chain, to democratize education and enable everyone to participate in and profit from the decentralized future of education”
The circulated press materials state that the hackathon is scheduled to start on July 8, 2024. Prominent companies, including TinyTap, ForbesWeb3, and Animoca Brands, are supporting the event.Â
Three semesters will pass during the hackathon. Launching infrastructure and decentralized finance (DeFi) apps will be the main emphasis of the first semester.
The development of education-related apps will be the focus of the second semester, and on-chain certificate applications and education finance apps will be the focus of the third.
The prize pool for the tournament will consist of US $1 million worth of EDU tokens, the native cryptocurrency of the EDU chain. The Open Campus accelerator program will offer winners a special developers cohort place and an additional “$100,000” in funding per project, marketing support, and developer assistance.
The decentralized identification (DID) for “over 500,000” Open Campus ID holders would grant access to Dapps created during the hackathon. The spokesperson added.Â
“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 declaration was made one month after Animoca Brands declared their intention to increase their open market purchases of EDU, the project’s native cryptocurrency. In November 2023, Open Campus additionally received $3.15 million from Binance Labs.
