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

“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”

Thanks to this subsidy, it is put into practice Open Campus supports 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.

Currently, Open Campus has 60 partner companies in the education and Web3 sector, which together have 20 million studentsto promote participation in EDU Chain.

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

Overall, the main goal of EDU Chain’s ‘Learn Own Earn’ model, based on blockchain, is aimed at building a ecosystem of decentralized applications (dapps) for students and teachers.

On a technological level, the EDU Foundation builds EDU chain as Arbitrum Orbit Stack L3 Rollup. This network will enable EDU Chain Layer 3 transactions to settle on Arbitrum’s Layer 2 (L2) scaling solution for Ethereum, providing Ethereum-level security with significantly improved scalability through faster and cheaper transactions.

As for the EDU chain, Animoca Brands is also among the 60 partner companies. Jat 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 issues and challenges in education. The support and partnership with the Arbitrum Foundation allows us to redefine the education sector, harnessing the power of decentralization and the Arbitrum ecosystem to improve access and opportunities in education for both students and educators.”

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

“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 and demonstrates the Foundation’s commitment to cultivating a decentralized education center within the Arbitrum network.”

First place for TVL among L2 blockchains

As we said, EDU Chain will be the first Orbit chain focused on education and will be launched in the Arbitrum ecosystem. But what is Arbitrum’s current situation?

At the time of writing it is Arbitrum is in first place for the highest TVL of all L2 networksof approximately $16.28 billion. This is the case in the rankings Basic second of TVL equal to 7 billion dollars and OP Mainnet with $6.06 billion.

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, that is Arbitrum’s daily revenues have fallen. In fact it was June 20th then the record achieved by Arbitrum used to be $3.43 million in revenue in one day, compared to “only” $20,440 the day before.

In practice, Arbitrum had recorded an increase in daily sales of +16,680%. As of today, the situation has changed with daily earnings for Arbitrum recorded on July 2 for $15,000