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

According to a recent report, by 2023, the global blockchain in education market was projected to reach $1.34 billion. Additionally, 59% of higher education institutions have adopted or are considering adopting blockchain technology.

Open Campus’s Codex Hackathon series aims to enhance dApp development in this sector via EDU Chain. The 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 stated.

The hackathon is set to begin on July 8, 2024, and is backed by firms such as Animoca Brands, TinyTap, and ForbesWeb3. The event will span three semesters:

  • First semester: Focus on launching decentralized finance (DeFi) and infrastructure applications.
  • Second semester: Target the development of education dApps.
  • Third semester: Develop education finance dApps and on-chain credential applications.

The event will feature a prize pool of $1 million worth of EDU tokens, EDU Chain’s native cryptocurrency. Winners will also secure a spot in a special developers cohort of the Open Campus accelerator program, providing them with up to $100,000 in additional funding per project, along with compliance assistance, marketing, and developer support.

dApps developed during the hackathon will be accessible 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’ plans to acquire more EDU, the project’s native token, from the open market. Open Campus also raised $3.15 million from Binance Labs in November 2023.

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