Binance launches new platform for development education and assistance, Binance X

The major global cryptocurrency exchange Binance has launched a new developer-focused initiative called Binance X, aiming to conduct more research in open-source blockchain development.

According to the announcement, Binance officially launched Binance X on 8/29. It disclosed that it is currently funding over 40 developers in research on open-source cryptographic software. Binance X aims to provide resources for projects at different stages of development to promote collaboration within the Binance ecosystem.

These projects include Binance Labs Incubation, Binance Launchpad, the company's strategic investment arm, mergers and acquisitions, and Binance X Fellowship, which supports over 40 projects with lead developers and researchers, including Hammad Tariq of GoBNB.

Notably, for promising developers, Binance X offers a fellowship program to allow them to focus on research and development of open-source blockchain software. It is reported that over 40 project leaders have signed on as Binance X researchers, although the exchange has not disclosed the amount of fellowship they will receive.

The primary competitor of this platform is X Development, a research subsidiary of Google's parent company, Alphabet. To surpass their competition, in addition to financial support, Binance X has introduced an "education program" for developers and the public. As Teck Chia, head of Binance X, stated in a release:

The Binance X team will support the education, create collaboration opportunities and rapidly accelerate the development of these projects through our various programs and resources at Binance.

By leveraging existing ecosystems, including Binance Chain, Binance.com API, Trust Wallet SDK, and Binance Charity donation platform, they will provide educational measures across various levels from "novice to experienced developers."

To attract these "newcomers," Binance X-sponsored "Evangelists" will conduct blockchain workshops and reading groups at universities and similar venues to recruit and educate individuals.

Recently, the dissatisfaction caused by the lottery of PerLin in the IEO trend prompted Binance to urgently introduce a Binance Savings product similar to DeFi lending, with the current price being quite unfavorable. As a leading exchange, every move of Binance attracts global attention, so let's continue to see how Binance responds with new initiatives.

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