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Season 6 of the training program to begin
Major crypto asset (virtual currency) exchange Binance announced on June 30 that it has started recruiting projects to participate in season 6 of the incubation program provided by “Binance Labs”.
It’s looking for an innovative early-stage startup team to launch the Web3 project. The application deadline is July 31, 2023, US time.
The main areas covered include ZK proof, layer 2, modular blockchain technology, liquid staking, real asset token or technology, AI-powered dApps, etc.
This training program will be implemented for three months. It specifically focuses on building Web3 startups and gives entrepreneurs the opportunity to further refine their ideas.
Selected entrepreneurs can receive one-on-one advice. Connect with industry leaders such as Binance and the founders of companies funded by Binance Labs.
What is Web3
The current centralized web is defined as Web2, and refers to an attempt to realize a non-centralized network using blockchain. A typical feature is the use case of decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.
Cryptocurrency Glossary
Selected Projects for Season 5
The previous incubation program, Season 5, received applications from over 900 projects, with 12 project teams selected for infrastructure, DeFi (decentralized finance), tools, security, games and more.
Binance Labs ended up funding five standout projects among them:
- Bracket Labs: On-chain financial projects leveraging leverage
- Mind Network: A decentralized privacy protection tool that offers data storage and more
- dappOS: A Solution to Lower the Entry Barrier to Web3
- Kryptoskatt: accounting, portfolio management and tax reporting services
- zkPass: Decentralized identity protocol with zero-knowledge proof technology
Binance broadcast the final selection process for these projects on its Web3 entrepreneurial competition show “Build The Block” on the Metaverse.
The show featured 12 Web3 projects presenting to win a grant from Binance Labs. As a result, the winner is zkPass, which leverages zero-knowledge proofs. Four other projects have also won grants from Binance.
connectionBinance’s Web3 Entrepreneurship Contest, ‘zkPass’ Wins
What is a zero-knowledge proof?
A type of proof protocol that allows a prover to prove that a claim is “truth” without disclosing any information other than “their claim is true” to the verifier. For example, it is possible to prove that the transaction is not fraudulent without revealing the details of the transaction, such as the sender, receiver, and amount of remittance, to a third party.
Cryptocurrency Glossary
Investment in Neutron
Binance Labs is the investment arm of Binance. Most recently, he co-led with CoinFund a funding round of approximately 1.4 billion yen ($10 million) by Neutron, which provides cross-chain smart contracts related to Cosmos (ATOM).
Neutron provides the infrastructure and security to make it easier for smart contract developers to build scalable dApps within the Cosmos ecosystem.
Neutron plans to use the raised funds for continued development of its blockchain software and expansion of its ecosystem.
The post Binance Labs S6 Web 3 Nurturing Program Targets ZK Proving And Liquid Staking appeared first on Our Bitcoin News.
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