Binance X to assist crypto mass adoption

On Thursday, Binance, one of the world-leading cryptocurrency exchanges, has introduced another initiative. Just several days after the company announced the launch of the cryptocurrency lending platform. This time Binance wants to encourage greater scale research in open-source blockchain development. The primary goal according to the Binance X head Teck Chia, is to aid mass adoption of cryptocurrencies and blockchain in general.

“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 said in a separate statement.

According to the official announcement, the new program will help encourage innovation of the global blockchain ecosystem, as well as the development of Binance’s own products and services.

The company initially mentioned the launch of Binance X last week on Twitter. The initiative will also connect developers to various programs such as Binance X Fellowship, Binance Labs Incubation, Binance Launchpad, Binance Chain, Binance.com APIs, Trust Wallet SDKs, and the Binance Charity donation platform.

Binance X Fellowship has already attracted more than 40 developers although the company did not specifically mention how much funding each of the projects will receive. all of the participating developers will be able to count on the support of the company, as noted by Tech Chia:

“The Binance X team will help educate, create opportunities for collaborations and jumpstart the growth of these projects via the different programs and resources we have at Binance,”

Binance continues to roll out new initiates. Just yesterday the company CEO Changpeng Zhao, said in a Twitter Ask-Me-Anything (AMA) chat that futures trading is coming “very, very soon, definitely sometime in September.”