UPDATED 20:55 EST / AUGUST 29 2019

BLOCKCHAIN

Binance launches new developer platform to foster blockchain innovation

Binance, the world’s largest cryptocurrency exchange by volume, today rolled out a new developer platform aimed at fostering blockchain innovation, particularly across the company’s existing platforms.

Called Binance X, the initiative includes a hub where developers receive educational material and support for Binance solutions such as the Binance Chain, the company’s application programming interface, software development kits and more.

Binance X comes with three streams dubbed learn, collaborate and grow. “Under Learn, we provide official and eventually third-party resources to help you learn and reference relevant information,” Binance said in a blog post. “Under Collaborate, we provide tools and channels where you can engage, both online and in real life, with relevant Binance teams and other third-party developers. Under Grow, we refer you to different programs at Binance designed to help projects at different stages of maturity level up to the next phase of growth.”

The initiative will be supported by Binance X Fellowship, an existing program that was designed to support developers to create free and open-source software. That program has already had some success, with more than 40 developers and projects that include Hammad Tariq of GoBNB, JP Thorbjornsen of BEPTools, Nikita Kozlov and Alexandr Safonov of BrowserBNB and Austin Griffith of Burner Wallet, among others.

Other Binance programs that can be tapped into include Binance Labs Incubation and Binance Launchpad. Labs Incubation is a cryptocurrency startup incubator while Launchpad is a token launch platform for new cryptocurrencies.

“The long-term goal of Binance X is to foster a thriving developer ecosystem that innovates on products and services that would advance the crypto ecosystem and contribute to crypto adoption,” Teck Chia, head of Binance X, told The Block.

The Binance X announcement comes on the heels of Binance announcing the Venus project Aug. 19. Designed to compete with Facebook Inc.’s Libra cryptocurrency, the project has been designed to develop localized stablecoins and digital assets pegged to fiat currencies across the globe.

Image: Binance

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