As part of our innovative strategy to improve learning and deliver a decentralized, self-sustaining ecosystem leveraging the potential of blockchain technology, the Forward Protocol team is proud to announce its collaboration with Reef Finance.
Forward Protocol — The Road So Far
Forward Protocol’s learning solution offers a decentralized and democratized global learning system that attracts the best experts and the most eager learners through proper incentivization for every stakeholder involved in the system. English Forward, the largest English learning community on the internet with more than 310 million satisfied users, is at the head of the queue to deploy this revolutionary learning solution. English Forward has been around for the better part of 19 years. In that time, they have served students from regions that discriminately suffer from a dearth of world-class learning personnel and facilities, all the while having implemented a DAO model long before it became a mainstream blockchain innovation.
The next step on the road to serving a blockchain-powered learning system to a global audience is creating interoperability and gaining exposure to other blockchains through Reef Finance.
The Reef chain was built to promote harmony in decentralization. It offers flexibility and interoperability across different blockchains, an integral feature to the mass adoption of blockchain technology and its potential applications.
The Reef chain is built with Polkadot Substrate, and it incorporates DeFi applications from Ethereum, Polkadot, Avalanche, Cosmos, and Binance Smart Chain. It supports Solidity, and Ethereum developers can port their DeFi applications without modifying the code. Reef chain is fast, scalable, and has efficient blockchain storage. It offers very affordable transaction fees and has features like upgradability, liquidity bridging, and staking. It has a DAO system that retains power in the community.
Forward Protocol Architecture
Forward Protocol is based on five core smart contracts. These smart contracts run in the background to deliver a decentralized learning system without central authorities, intermediaries, or any single point of failure.
These smart contracts are:
- Proof of Value-Delivered regulates money movement between experts and learners within the system. It covers payments for services and incentives.
- Proof of Value rewards experts that contribute to the learning process. It evaluates the feedback and reaction from community members that interact with an expert’s content and assesses their value.
- Distributed Reward/Reward Sharing rewards every expert involved in the education of any learner upon completing their program or finding employment via Forward Protocol’s Job Marketplace.
- Proof of Ownership maintains intellectual property integrity across the protocol. It also incorporates NFTs to provide unique identification for items such as certificates, course material, etc.
- Initial Knowledge Offering provides a transparent system for experts to secure the resources they need to create world-class learning material. It eliminates the financial risk and inefficiency involved in creating premium learning content.
What to Expect
Blockchain technology is hard to use in its present state, especially for new users in the DeFi space. The lack of interoperability across different blockchains limits both new and seasoned DeFi users. The throughput problem associated with most blockchains also stands out as a hitch on the road to mass adoption. This throughput issue translates to sky-high transaction fees at peak periods. It discriminates against DeFi users who cannot afford to pay the fees to complete their transactions.
A decentralized learning system works wonders, as English Forward has shown in its 19 years of existence. However, it has to be affordable, transparent, fast, and easy to use. Reef chain delivers on all of these core functions. It also delivers the infrastructure to implement Forward Protocol’s architecture.
Cause for Optimism
Learners around the world have plenty to look forward to. Problems that defy traditional solutions require the best innovation to solve them. Forward Protocol’s integration with Reef chain is a union of the best performers in their respective fields working together to tackle a common problem.
If you want to be part of this transformative journey, be sure to hit that button and become part of our community:
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