The Binance exchange has announced that it has launched a developer-focused platform, called “Binance X,” which will further the crypto adoption movement.
Binance X will serve as a learning and collaboration platform for developers looking to get into the blockchain ecosystem. The project will also help developers get involved with Binance’s own solutions such as its own blockchain Binance Chain, Binance.com application program interfaces (APIs), Trust Wallet software development kits (SDKs) and many others.
“The long-term goal of Binance X is to foster a thriving developer ecosystem that innovates on products and services that would advance the crypto ecosystem and contribute to crypto adoption,” stated the head of Binance X, Teck Chia.
Chia said the launch is perfectly timed as there are more and more products for developers at Binance and an increasing number of third-party that are creating various products and services on the platform. “These developers deserve a team focused on helping them succeed through all stages of their development.”
According to the announcement, the Binance X Fellowship program has attracted more than 40 developers and projects, including Hammad Tariq of GoBNB, JP Thorbjornsen of BEPTools, Nikita Kozlov and Alexandr Safonov of BrowserBNB, and Austin Griffith of Burner Wallet, to list a few.
Per the report, Binance X will select projects for its programs first and foremost based on talent. The next criterion the project has to meet is that the code must be open-source and available for public use. “We are generally very open-minded and supportive of ideas and projects that are out-of-the-box and creative,” said Chia.
Binance X has come up with a list of projects and ideas it would like to include in the Binance Chain ecosystem. These consist of a “Robinhood-like UX for casual traders,” and a “Bloomberg-like terminal for serious manual traders.”
“We are hoping that our platform will spawn creative and innovative projects from 3rd-party developers that will help crypto gain mass adoption,” Chia said in The Block interview.
Binance has been on fire when it comes to new services and products. So far it has launched a margin trading service, and a week before a lending feature where users can earn interest on their BNB token, Ethereum Classic (ETC) and Tether (USDT) stable coin funds.
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