What is Binance X?

What is Binance X?

Details about a new initiative from exchange platform Binance focused on foster innovation and expansion of developers in the blockchain industry has been released.

Binance X, as it will be known, is focused on supporting open-source development in crypto and will be the latest system launched by Binance focused on nurturing promising elements of blockchain- namely, developers.

As they point out, they have come on leaps and bounds over the last year with the launch of their own DEX chain, Binance Chain, and wallet, the Trust Wallet, all of which are fruit of the labours of developers. As such, this new initiative could be perceived a way to give back to the developers that have striven to help the platform achieve the expansion they have over recent months.

As Binance themselves put it, “We have become a platform that third-party developers can build and leverage for their own products and services. As a platform that is rapidly evolving, there is a need to provide a cohesive way to engage and support developers in our ecosystem, and thus, Binance X is conceived”.

How Binance X Will Function

The way the new system will function was embryonic of the firm establishing three core elements that are important to developers; the need to learn, to work together and get help which can help further projects. These translate into three core components that make up Binance X, Learn, Collaborate and Grow.

Learn will see participants provided with third party resources provided by Binance to help them learn and reference important information. Collaborate will see tools for engagement in real life and online and connect those involved both with Binance’s own developers, as well as those from further afield. While with Grow, Binance will assist projects in different stages to get to the next level via the use of specially designed programs.

Binance X has already demonstrated itself as a system which can help further blockchain initiatives. Which has been demonstrated with the Binance X Fellowship Program. This project includes 40 fellowships from different eco-systems, such as GoBNB, BEPTools, and BrowserBNB and BNBTextWallet

As per the blog post announcing the news, in a goal off Binance X is “help developers maximize their potential and growth on the Binance platform.” With Binance stating they “are super excited to see all the innovations that would come out of this developer community.

Binance Track Record With Blockchain Expansion

This is just the latest in a long line of efforts made by Binance to give a helping hand to growing blockchain businesses.

They have a long-running incubation program where time is dedicated by the platform to guide blockchain start-ups from across the world in the right direction. While back in April, they awarded $15,000 to three open-source projects.  Not to mention their on-going Launchpad projects too.

All of which combined signals the significant effort the firm is dedicating to the wider blockchain world and it looks like this is not slowing down anytime soon either.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

11 Biggest Sponsorships Deals for the Crypto Market in 2021

The global sports industry is looking to revamp its activities and recover from the after-shocks of the COVID-19 pandemic. Cryptocurrency platforms on the other hand have enjoyed immense growth and are searching for big platforms that can provide better brand visibility. That’s where sports and crypto make a perfect match with many global sports organizations […]

1 December, 2021

ChangeNOW Unveils a New Cashback Feature

ChangeNow offers crypto users smooth exchanges and doesn’t stop there. The exchange platform provides registered users a chance to profit from crypto swaps with cashback in NOW tokens through the ChangeNOW website. The cryptocurrency exchange and processing platform offer you an effortless way to turn your traffic into profit and boost your crypto journey. The […]

15 November, 2021

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Celsius Casino has become a go-to gaming destination for casino fans looking for an action-packed online gaming platform. The online casino boasts a robust game catalogue with over 4,000 games. The extensive game portfolio caters to Slots, Table Games, and Live Casino fanatics and is powered by well-known providers such as Evolution Gaming, NetEnt, and […]

9 November, 2021

ChangeNOW Has Announced the Release of its Own Digital Wallet

Limitless and swift crypto exchange platform ChangeNOW has released its own non-custodial NOW Wallet, facilitating fiat to crypto purchases and reliable crypto transactions from the comfort of a mobile phone. NOW Wallet is available in beta version for both iOS and Android devices and allows users to transact with over 20,000 currency pairs, regardless of […]

29 October, 2021
BitPanda,Bonus,token

BitPanda Enhances Its BEST Rewards Programme

The EU-based cryptocurrency exchange, BitPanda, has improved its loyalty programme, BEST Rewards. It is now providing owners of its BitPanda EcoSystem Token (BEST) an additional 12% in potential revenue each year. Every registered BitPanda user who has BEST in his or her wallet and carries out at least one monthly trade will be eligible for […]

25 October, 2021
ChangeNOW,Decentralised,Fraud

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021
CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021
ChangeNOW,Cryptocurrency,Investment

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021