Open Campus (EDU) Ventures into Layer-3 Development
In a move set to redefine its role in the blockchain education sector, Open Campus (EDU) has announced plans to develop a layer-3 platform to expand the functionalities within its ecosystem.
Open Campus (EDU) Ventures into Layer-3
According to a release published on the evening of April 10th, the Web3 education project Open Campus (EDU) unveiled its strategy to build a layer-3 platform with the aim of establishing the "Learn, Earn, and Own" model within the cryptocurrency industry.
As explained by Coin68, a layer-3 protocol is built on top of a layer-2 blockchain, specifically catering to the operations of a single application. Developing a layer-3 will enable the project to achieve the highest level of scalability, albeit at the cost of centralization risks for the developing entity, liquidity fragmentation, and potential security vulnerabilities.
Open Campus is launching EDU Chain, a cutting-edge L3 Rollup.
— Open Campus (@opencampus_xyz) April 9, 2024
Our goal? To pioneer a groundbreaking "Learn, Own, and Earn" model in education and build a vibrant Dapp ecosystem on EDU Chain.
Discover more below 🧵👇 pic.twitter.com/gva78RA6vo
The new layer-3 by Open Campus will be named EDU Chain, strategically planned to reallocate the educational value on both blockchain and real-world settings back into the hands of users through blockchain and Web3 solutions.
Open Campus announced that the project currently serves over 100,000 users with educational products on their platform, supported by more than 50 partners and backed by investment funds such as Binance Labs.
Once EDU Chain is established, Open Campus plans to transition all ecosystem products, including EDU tokens, Open Campus ID domains, and PNFTs, onto this new platform.
Open Campus's ecosystem after the introduction of EDU Chain
However, the project is still in the process of selecting a layer-2 platform to build its layer-3 upon. Feasible options currently under consideration by Open Campus include Arbitrum, Optimism, Polygon zkEVM, and Base.
The price of Open Campus's EDU token saw a slight increase upon the announcement of the EDU Chain layer-3 development, before adjusting downwards in line with the broader cryptocurrency market trends on the morning of April 10th.
1-hour chart of the EDU/USDT pair on Binance at 09:30 AM on 10/04/2024
