Streamr Tie-Up with Binance – Business Partnerships


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Renowned blockchain-based data platform, Streamr, has announced a partnership with the leading global cryptocurrency exchange, Binance on April 7.

According to the announcement, users of Streamr permissionless Marketplace will get Binance’s real-time trades and quotes data for all asset pairs as a free product.

With this partnership, Binance becomes the first crypto exchange with market data distributed over a decentralized network.

Notably, the Streamr Marketplace is a web-based application connecting data producers and consumers. Users can access this application and get access to real-time data streams for a fee. The blockchain platform has earlier partnered with multinational organizations including Nokia, OSIsoft, Hewlett Packard Enterprise offering access to real-time trade feeds on its marketplace.

Advantages of the partnership

According to a blog post, Streamr highlighted two significant benefits that the partnership would bring for algorithmic exchange traders.

Firstly, with this single technical integration, Binance traders will be able to make use of various data streams such as sentiment data and data from other markets. This will result in users gaining better insights and being able to adopt more profitable trading strategies. Moreover, this is likely to produce corrective information for the traders who could not earlier connect to exchange APIs directly and were dependent on data from market data aggregators.

Secondly, the new partnership aims at better security and more reliability, which is not always the case with data from centralized aggregators. With its decentralized background, Streamr ensures less vulnerability from attacks and censorship making it more tamperproof.

The blog post further noted that the strategic alliance between the two parties would result in utilization of Stream’s peer to peer (P2P) network for backend delivery. At the same time, the STreamr API would enable developers to access Binance’s data streams. And, besides, developers will also be able to use the drag-and-drop analytics built-in with the Streamr Core web application.

Unveiling more features soon

Speaking on the occasion, Shiv Malik, head of growth at Streamr, spoke about plans to release other crypto favorable features soon. Henri Pihkala, CEO of Streamr, noted the benefits of crypto exchanges distributing information over a decentralized network.

Pihkala was appreciative of Binance’s interest in this regard. He pointed out that over the past year the crypto exchange platform had, “visibly explored opportunities to advance decentralized technology and apply it to their business.” He cited the examples of Binance Chain and Binance DEX and was quoted saying, “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.”





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