Polygon and blockchain-based knowledge protocol, Forward Protocol, have joined hands to bring transformation in the education realm. With blockchain technology making inroads into every sphere of life, it is time that the knowledge transfer sector also benefits from the progressive decentralized ecosystem.
The collaboration between Forward Protocol and Polygon (Matic) will be seen for the first time on the renowned English language learning platform English Forward. The strategic deployment aims to bring sweeping changes to the knowledge sharing realm. The upcoming decentralized architecture will promote a globalized learning ecosystem that rewards user participation, motivates learners to share knowledge, and helps experts discover more opportunities.
Two giants collaborate to refashion the traditional online learning process
The first instance of the collaboration will be evident in English Forward platform which is already a renowned platform with global outreach and a diverse audience. English Forward has been instrumental in bringing English knowledge to underprivileged communities from across the world. The shift to blockchain shows the potential that powers the Forward Protocol.
With 19 years of credibility behind English Forward, the platform predates the dot-com bubble and even Reddit. It already had characteristics similar to the DAO model that defines blockchain today. Until now the platform has served more than 310 million unique users. With a history of innovation, no wonder that English Forward was the right choice for the Forward Protocol.
Why Forward Protocol?
- Forward Protocol presents a ready-to-use scalable blockchain model for knowledge sharing
- Delivers a fair fractionalized reward system for the participants
- Removes result falsification for enhanced efficiency
- Improved response system and support for learners
- Accelerates knowledge sharing across diverse platforms
- Enhanced expert-learner collaboration with smart payback options
- Opportunity for content creators to build a passive income stream
So, what exactly powers the Forward Protocol? The architecture consists of five core smart contracts that help achieve a decentralized, sustainable, and smart learning system that removes intermediaries, thereby benefiting learners.
Understanding the Blockchanization in Forward Protocol
- Proof Of Value-Delivered – Rewards for tasks can be a true game changer for marketplaces, tutors and content creators. Secure payments allow for seamless transfer of fees alongside special incentives.
- Proof of Value – Assigning the right value for a product helps assure a user’s problem will be resolved appropriately. Whether it’s a blog, article, or Q&A session, if it helps a user, there’s a value for it on Forward Protocol. Content publishers are rewarded as per the ad revenue and community feedback.
- Distributed Reward/Reward sharing model rewards everyone who’s been a part of the learner’s growth journey. When a learner grows, so does the entire platform.
- Proof of Ownership safeguards intellectual property, such as NFTs.
- Initial Knowledge Offering allows seamless fundraising to help create new content and reward both the learner and the creator. Incentivized learning experience is ideal for both learners and experts. It helps reduce drop-out rates, motivates learners, rates the content, and rewards content creators.
The Vision Behind Forward Protocol
Polygon deploys a powerful Ethereum blockchain ecosystem to build transformative solutions that are decentralized, open-source, and efficient. The power to build scalable blockchains atop the Ethereum ecosystem defines Polygon’s prowess. Forward Protocol aspires to be a significant part of the Polygon growth story. Both Polygon and Forward Protocol aim to achieve common goals via collaborating on projects that expand their horizons and promote growth.
Despite Ethereum representing the pinnacle of decentralized ecosystems, a few of it’s features might trouble some. While Ethereum is limited to 30 transactions per second, the Forward Protocol can process 65,000 transactions each second thanks to Polygon. Furthermore, the low transaction cost works in favor of Forward Protocol, helping users save in gas fees. The sub-2 second transaction time is a huge help in peak traffic time.
The resultant platform won’t be battling with stone-age blockchain-related problems on the Forward Protocol architecture. Millions of seamless transactions every month will result in not only revenue generation but also aid large-scale data processing.
- Blockchain-based Content Management System (CMS)
- Blockchain-certified accreditations, and certifications
- Expanding the job market for learners and discovering new avenues
- Integrate curriculum with skill tracking module for overall professional development
- Serve as unifying force between universities, schools and colleges
- P2P market, DAO governance, In-built NFT
- Decentralized exchange for cryptocurrencies for EdTech and educational markets
The ground-breaking collaboration is a milestone in the blockchainization of the learning sector. Free flow of knowledge, including language training, helps democratize the internet and helps overcome geographical barriers.
The Polygon and Forward Protocol collaboration is sure to repackage knowledge transfer for the 21st century.