Full accessibility of knowledge, streamlined management, and creating more incentives to learn through gamification and rewards are among the achievements of educational institutions that are embracing blockchain technology. Schools, Colleges, and Universities must take their first steps to innovation and integrate blockchain if they are to survive in such a competitive environment.

Just as the other emerging technologies like artificial intelligence, IoT, and extended reality, blockchain technology has been breaking boundaries and introducing cross-industry solutions that go beyond its initial financial and cryptocurrency focus. Its main strengths are its features that allow decentralized storage, the immutability of stored information, traceability, and transparency.

Out of the scope of facilitating secure transactions, these advantages allow for creating complex ecosystems where users openly collaborate, exchange data, engage in agreements, and are incentivized to achieve better results by earning rewards in cryptocurrency. Education is one of the top industries that is expanding and growing and yet facing challenges due to inefficiency of the traditional educational models, limited access to credentials and educational records, and the validity of transcripts – problems which could be easily overcome by blockchain-based software.

Blockchain tackles these challenges by storing and providing universal easy access to credentials on a decentralized ledger, optimizing educational processes with smart contracts, and providing the incentive for students to learn with rewards in crypto. Read on to find out more about how introducing blockchain in education brings definite benefits.

What is blockchain?

In simple terms, blockchain is a peer-to-peer distributed ledger that stores information and keeps track of transactions. Each and every member of the blockchain community has its own copy of the information. The information is recorded subsequently into units called blocks and protected by strong cryptography, creating a chain of data. Changes to blocks are not permitted by the blockchain system architecture, so every action and event could be traced to its origins.

A blockchain could store data on agreements between the parties, their credentials, transactions, and any other information presented in a digital form. Since this information is distributed and highly secured, any attempt at fraudulent activity can be seen by the members of the blockchain community. This creates trust and transparency for any type of ecosystem that the blockchain is integrated into.

How does blockchain work?

Blockchain is a platform that ensures the integrity of the information stored and maintains interactions between the members of the ecosystem. Here’s a high-level overview of the way it works:

Each member maintains their own blockchain node with the full history of all the events and data appended to the network, including credentials, identities, certificates, etc.
Every update to the network entails the creation of a new block at the end of the chain. A blockchain protocol dictates how these blocks are recorded, validated, and distributed.
A consensus mechanism is employed to verify each created block where members of the blockchain network decide if it’s valid to be added to the chain.
Once a block is created and confirmed, it can not be revoked. All entries on the blockchain are permanent and securely stored. This allows for members of the community to trace the full history of transactions and any other modifications in the blockchain.
Smart contracts are a special type of agreement between the members of the network that have the conditions programmed into them, making sure that they are met before each party receives what was agreed upon. Smart contracts eliminate the need for third parties and middlemen to be involved in agreement resolution.
Transactions in cryptocurrency play a very important part in the blockchain ecosystem, providing the incentive for all members of the community to make valuable contributions and participate in the development of the system as a whole.

These key pillars of blockchain technology lay the foundation for its uses throughout different industries, including in education. It has the potential to create a global environment where learning materials, publications, student credits, and transcripts are easily accessible. It can also introduce new and innovative ways for accountability, incentivization, and communication between teachers, students, and other participants.

What is Edgecoin?

In more detail, Edgecoin (https://www.edgecoinpay.com/) is the world’s first educational currency that provides an open payment system for an educational institution where people can make secure, fast and reliable education-related transactions through a decentralized, stable and reliable application that will work at the speed of the Internet while making full use of the educational infrastructure.

How does it work?

Edgecoin will work through a mobile application that must be downloaded to then register and become part of the ecosystem. In order to participate, customers will have to pass a KYC that will give greater security and reliability to the platform.
Once the KYC is passed, users will be able to buy/sell Edgecoins through the application and from any Stellar (XLM) address, the network where the platform’s own transactions will be determined.
Finally, the purchased Edgecoins can be used in a smart way to push payments to the limit.

List of Benefits

Instant transactions
Reduced costs
The world’s first stable educational currency
Apply Gradecoin automatically while holding Edgecoin
Global and secure system

Staking Pool with Gradecoin

The user will have to connect his wallet through Metamask. Then choose the tokens he/she will want to deposit within the Edgecoin platform and thus be able to start trading. Once the coins are obtained (which will be called W-Edge), users will be able to staking with the imported tokens and be rewarded with Gradecoins automatically. The current major benefits of the staking pool within Edgecoin is that it is a very new project that is not yet listed on exchanges, but you can be rewarded for participating in its pool. In addition, as there is not much participation yet, the reward % is high, around 34% of Gradecoin.

Tokenomics

Edgecoin (EDGT) has a native token called Gradecoin (GRTC) that allows the settlement of intermediary currencies between assets and is based on the Stellar network protocol. Gradecoin is the fuel token for performing resource control of the Edgecoin network.
Name: Edgecoin
Abbreviation: EDGT
Token type: Stable coin
EDGT Value: 1 USD
Supply: 10,000,000,000,000 EDGT

More details here:

Website: https://www.edgecoinpay.com/
White Paper: https://www.edgecoinpay.com/Official-Whitepaper-Of-Edgecoin-Year-2021-2-1.pdf
Twitter: https://twitter.com/edgecoinpay
Facebook: https://www.facebook.com/edgecoinpay
Telegram: https://t.me/Edgecoin_chat
Instagram: https://www.instagram.com/edgecoinpay/
Youtube: https://www.youtube.com/channel/UC5ekVAo2GXdMPcM03Y6r78g

Author

Forum Username : Evan alvaro
Froum profile url : https://bitcointalk.org/index.php?action=profile;u=2640984
ETH Address : 0x02B5C0018688198D57CaA2fE934c867Afe06fB4A