Binance X is a New Initiative to Fund Open Source Crypto Software Development

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September 2, 2019 – Cryptocurrency Exchange Binance unveils Binance X platform to foster blockchain innovation and to facilitate collaboration in the Binance ecosystem.

Binance X will offer a research and development-focused program for open-source blockchain software. There are now 40 project leads that have already signed up for the program. Of course, the amount of funding the individuals will receive is not disclosed.

“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,” Teck Chia, head of Binance X

In a lengthy blog post, Binance opens up to explain the motivations behind Behind X, citing first, their “long-term mission to provide infrastructure to enable the freedom of money.” This mission, Binance said, has guided the company in creating a number of products, like the education-focused “Binance Academy”, “Binance Charity Foundation,” and Binance Research. Through API, Binance has allowed external developers to build and leverage for their own products and services. Thus the company needs a cohesive way to engage and support developers in the Binance Ecosystem.

Binance has Three Themes. “Learn,” “Collaborate,” and “Grow.” “Learn” will allow anyone to learn and reference external information. “Collaborate” is where Binance provides the tools and channels for engagement. In “Grow” developers are referred to different programs at Binance designed to help them at different stages of their projects.

The 40+ projects mentioned earlier are under the Binance X Fellowship Program, designed to support developers in creating free and open-source software that would “enable new innovations and businesses in the crypto economy.” Among the onboarded projects are the following:

• GoBNB
• BrowserBNB
• Burner Wallet

In other news, Binance recently announced that it is back in the App Store, wherein it is currently no. 69 in the Philippine App Store’s Finance Category. It also recently held a community event in the country.

This article is first published on BitPinas: Binance X is a New Initiative to Fund Open Source Crypto Software Development

Photo by Fabian Grohs on Unsplash

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