Binance X: Huge Boost to Open-Source Blockchain Development

Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, is launching a massive open-source research project that is focused on blockchain ecosystem development.

The Malta-headquartered trading platform introduced Binance X on August 28, noting that it will be funding over 40 application developers who are conducting research on open-source blockchain software.

The developers of Binance X are also planning to facilitate collaboration in the larger Binance ecosystem by supplying resources to crypto startups. The guidance material is intended to help projects that are in various stages of development.

For software engineers who’re interested, Binance X provides a fellowship program that’s geared toward research and development (R&D) of open-source blockchain platforms. Over 40 project managers are now working as Binance X fellows, however Binance’s management has not disclosed how much these individuals will be paid for their work.

Applications to Binance X’s fellowship program are accepted on a rolling basis.

Binance X: Educating Newcomers, Spreading Awareness About Blockchain Development

According to the exchange, its new platform has been developed to serve as a digital asset-focused counterpart to X Development, the R&D subsidiary of Alphabet Inc., Google’s parent company.

The Binance X initiative will not only be providing financial resources, but it will also be introducing various educational programs for software engineers and the general public.

Teck Chia, head of Binance X, stated:

“The Binance X team will help educate, create opportunities for collaborations and jumpstart growth of these projects via the different programs and resources we have at Binance.” 

With the help of its existing products and solutions (such as APIs, Binance Chain, Trust Wallet software development kits (SDKs), and Binance Charity), the Binance X team will focus on educational advancement for all users including “noobs to seasoned developers.”

In order to attract more people to the world of blockchain development, Binance X’s fellows will be hosting various crypto-focused workshops and reading programs at universities and other places, which should help in recruiting and educating “noobs.”

Binance Academy, One of the Best Blockchain-focused Informational Resources

In addition to spreading awareness about the huge potential of blockchain-based technologies, the leading exchange has launched Binance Academy, a useful informational service that helps newcomers and experienced users navigate the crypto space. 

Through Binance Academy, users learn important tips on how to keep their cryptocurrency holdings and personal information safe.