Binance launches ‘Binance X’, aims at building open-source crypto software

• The exchange will be funding more than 40 developers conducting research.
• Binance X is also rolling out educational initiatives for developers and the public.

Crypto-exchange giants, Binance, launched BInance X to extend its research in open-source blockchain development. They will be funding more than 40 developers researching open-source crypto software. Binance X also hopes to assist “evangelists” to promote education around the space by providing resources to projects in various stages of development. 

Binance X offers a fellowship program that is aimed at research and development of open-source blockchain software. The exchange has not yet disclosed any information on how much funds it will provide for the 40 project leads that have already signed on as Binance X fellows. Applications are accepted on a rolling basis.

The platform is created to serve cryptocurrency-focused counterpart to X Development, the research, and development subsidiary of Google parent company Alphabet. Binance X will also begin educational initiatives for developers and the public. Reportedly, the evangelists sponsored by Binance X will recruit and educate individuals by hosting workshops and reading groups at colleges and similar locale.

Teck Chia, head of Binance X, said: 

“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.” 

By leveraging the existing ecosystem – including Binance Chain, Binance.com APIs, Trust Wallet SDKs and the Binance Charity donation platform – Binance X will aid educational advancement at every level “from noobs to seasoned developers.”