The announcement of the $1 million hackathon is one of the latest developments in this field and an important indicator of how blockchain technology can transform education.

According to a Worldmetrics report, the global blockchain education market will reach $1.34 billion by 2023. Behind this rapid growth lie benefits such as security, transparency and accessibility offered by blockchain technology.

The fact that 59% of higher education institutions have already adopted or are considering blockchain adoption indicates that this technology will increasingly gain a foothold in education. Open Campus is leading this development with its hackathon.

The Codex Hackathon series organized by Open Campus encourages decentralized application (dApp) development on the self-developed EDU Chain. The aim of this hackathon is to create innovative solutions in the field of education using blockchain technology.

EDU Chain’s mainnet is expected to be available at the end of this year. This network will provide an infrastructure suitable for the development and use of blockchain-based educational applications.

Open Campus spokesperson explained the purpose of EDU Chain in an interview with crypto.news: “EDU Chain is the first decentralized blockchain designed for education. The main purpose of this technology is to enable the democratization of education and empower all participants to contribute to the future of decentralized education and “To empower you to benefit from it.”

The hackathon starts on July 8, 2024 and consists of three periods. Each period has its own focus:

• First Term: Development of applications that improve decentralized finance (DeFi) and education infrastructure.
• Second Term: Development of educational applications (dApps) that facilitate learning and teaching.
• Third Term: Development of dApps focusing on areas such as education finance and digital student identity.

Those who attend the event will have the chance to win EDU tokens worth a total of $1 million. EDU token is the native cryptocurrency of EDU Chain and is used for transactions on this network.

In addition to the financial reward, winners will also be eligible to participate in the Open Campus accelerator program. This program offers mentoring, funding and various support services to facilitate the implementation and market launch of developed dApps.

Applications developed during the hackathon will be made available to more than 500,000 Open Campus ID holders. These IDs allow students to securely prove their identity using a decentralized authentication system.

While highlighting the importance of the hackathon, an Open Campus spokesperson said: “The invitation to the Open Campus accelerator program and access to Open Campus ID students expands the reach of the winning dapps and significantly increases their potential to make a meaningful impact in the education sector through additional funding and support.”

Open Campus’ million-dollar hackathon paves the way for the use of blockchain technology in education. This hackathon aims to eliminate the shortcomings of the traditional education system and provide students with a more democratic, transparent and accessible learning environment.

This hackathon, organized with the support of important companies such as Animoca Brands, TinyTap and ForbesWeb3, can play an important role in shaping the future of blockchain education.