Binance’s real-time trades feed and quotes data will now be available on Streamr’s marketplace.
Open-source blockchain infrastructure Streamr announced on April 7 a new integration with cryptocurrency exchange Binance, in which Streamr will offer the exchange’s real-time trade feeds on its marketplace.
From now on, Binance’s real-time trades and quotes data for all asset pairs will be available on Streamr, with the aim of targeting algorithmic traders.
According to Streamr, traders will now be able to obtain sentiment data and data from other markets via a single technical integration.
Motivations behind the partnership
Speaking with Cointelegraph, Henri Pihkala, co-founder and CEO of Streamr, said that with crypto exchanges serving as platforms for exchanging digital assets built with decentralized technology, it “makes sense” to distribute information over a decentralized network as well.
Pikhala also noted that Binance has shown interest in decentralization throughout its operations:
“Binance is a leading crypto exchange, and over the past year they’ve also visibly explored opportunities to advance decentralized technology and apply it to their business. This movement is well showcased by them launching the Binance Chain and Binance DEX. We saw that as a signal that they might want to pioneer the use of decentralized technology on the data distribution side of things as well.”
Security improvement
Furthermore, Streamr highlights that traders can expect better security, which can translate into receiving more reliable data, as the data published in Streamr is cryptographically signed as close to the source as possible.
Looking ahead, Shiv Malik, head of growth at Streamr, told Cointelegraph that the platform will be releasing other features in the near future:
“In a few months, we’ll be launching a framework called Data Unions. It enables data crowdselling; users of applications and connected devices can pool the data they produce into a massive data stream and sell it on the Streamr Marketplace. The first live Data Union is called Swash, and it lets users anonymously crowdsell their web browsing behavior for DATA tokens.”
Binance’s recent acquisition deal with CoinMarketCap
The news comes after Binance reached an agreement on April 2 to acquire crypto data aggregator CoinMarketCap in an undisclosed deal. At the time, Binance CEO and founder Changpeng Zhao told Cointelegraph, “The acquisition will enable us to build on each other’s strengths, and further grow and instill transparency in the industry.”
Source: , CoinTelegraph
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