Please describe your proposed solution
We will create and host a Purpose Cardano Sidechain (a sidechain for Cardano that is build for a specific purpose) to facilitate the mechanics of the Andamio network, where the network purpose is to store on-chain records and users can interact with on-chain activities with ease on a side chain. Andamio smart contracts and data will be migrated to this side chain, which will be using Cardano Node software to create a purpose sidechain that is compatible with existing Cardano smart contracts. This will be the test environment in which we will test the concept of a side chain. We will look at leveraging tooling from Mesh and Bloxbean’s in order to speed up our prototype development.
<u>Approach:</u>
We would like to develop a Purpose Sidechain Cardano network that leverages Layer 2 solutions to minimize transaction fees, reduce data size, increase performance and enhance privacy. This approach allows for the scalability of educational transactions without compromising the security and decentralization benefits of the Cardano blockchain. By maintaining the integrity of student data and reducing operational costs, our solution makes blockchain technology a more viable option for many organizations.
<u>Engagement:</u>
The project will showcase how to build, develop and deploy a Cardano sidechain and attract developers and people interested in this kind of Cardano usecase.
<u>Demonstration of Impact:</u>
The impact of our project will be demonstrated through the successful migration of Andamio infrastructure and smart contracts to utilize a sidechain instead of mainnet.
Uniqueness and Importance to Cardano:
Our solution is unique in its use of a purpose sidechain Cardano network combined with Layer 2 technologies specifically tailored for the education and credential and contribution management. This not only demonstrates a noble use case for Cardano but also contributes to the ecosystem by showcasing how Cardano's technology can be adapted for high privacy and low-cost applications outside of traditional financial systems. The success of this project could serve as a model for other sectors looking to harness the power of Cardano for similar purposes.
<u>Benefits:</u>
This project will benefit the ecosystem by providing a proof of concept and demonstrate the benefits of using sidechain technology.