The Arbitrum Foundation supports the EDU Chain blockchain for education

Open Campus has announced that it has received a grant from the Fondazione Arbitrum to launch EDU Chain, the first layer3 blockchain for education. The project is supported by various other partners such as Animoca Brands. 

Arbitrum and its support for EDU Chain: the first layer3 blockchain designed for education

Open Campus, a decentralized protocol dedicated to education, announced that the Arbitrum Foundation has sent a grant for the launch of EDU Chain. This is the first education blockchain, a Layer3 (L3) Rollup built on Arbitrum Orbit Stack. 

We’re thrilled to announce that we’ve received a grant from the Arbitrum Foundation to launch EDU Chain.

The home of education on-chain will be powered by @arbitrum! pic.twitter.com/OF0OUZErSk

— Open Campus (@opencampus_xyz) July 3, 2024

“We are excited to announce that we have received a grant from the Arbitrum Foundation to launch EDU Chain. The home of on-chain education will be powered by @arbitrum”

In practice, thanks to this grant, Open Campus will support the Arbitrum Ambassador Program with educational content initiatives. Not only that, the decentralized protocol will also participate in Arbitrum’s hackathon competitions, offering incentives to developers who create dapps for EDU Chain.

At the moment, Open Campus has 60 partner companies in the education and Web3 sector, which collectively have 20 million students, to promote participation in EDU Chain. 

Arbitrum and EDU Chain: the project of the first blockchain for education

In general, the main objective of the “Learn Own Earn” model by EDU Chain, based on blockchain, aims to build an ecosystem of decentralized applications (dapps) for students and educators.

At a technological level, EDU Foundation is building EDU Chain as Arbitrum Orbit Stack L3 Rollup. This network will allow EDU Chain Layer 3 transactions to settle on Arbitrum’s Layer 2 (L2) scaling solution for Ethereum, thus offering Ethereum-level security with significantly improved scalability thanks to faster and cheaper transactions.

Regarding EDU Chain, among the 60 partner companies there is also Animoca Brands. Yat Siu, co-founder and executive chairman of Animoca Brands and member of the EDU Foundation Council, stated: 

“This grant is an exciting step forward in Open Campus and EDU Chain’s vision to use blockchain technology to address current problems and challenges in education. The support and collaboration with the Arbitrum Foundation allows us to redefine the education sector, leveraging the power of decentralization and the Arbitrum ecosystem to improve access and opportunities in the field of education for both students and educators.”

Also Nina Rong, head of ecosystem development at the Arbitrum Foundation, stated: 

“We are excited that Open Campus is launching EDU Chain as L3 on Arbitrum Orbit Stack. EDU Chain marks an exciting step in the Arbitrum ecosystem, demonstrating the Foundation’s dedication to cultivating a decentralized educational hub within the Arbitrum network”.

First place for TVL among L2 blockchains

As we were saying, EDU Chain will be the first Orbit chain focused on education that will be launched in the Arbitrum ecosystem. But what is the current situation of Arbitrum?

At the time of writing, Arbitrum is in first place for the highest TVL among all L2 networks, with approximately 16.28 billion dollars. In the ranking, there is Base in second place with TVL equal to 7 billion dollars and OP Mainnet with 6.06 billion dollars.

Not only that, Arbitrum is the fifth largest blockchain protocol after the L1 blockchains Solana, Binance Smart Chain (BSC), Tron, and Ethereum.

Compared to the end of June, then, the daily revenues of Arbitrum have decreased. In fact, it was June 20 when the record reached by Arbitrum was 3.43 million dollars of Revenue in one day, compared to the “only” $20,440 of the previous day.  

In practice, Arbitrum had recorded an increase in daily revenue of +16.680%. As of today, the situation has changed with daily revenue for Arbitrum recorded on July 2, at $15,000