Tron, a blockchain project focused on a decentralizing the internet, will introduce an accelerator program for developers creating decentralized apps (DApps) on the network.
Tron Foundation, the organization responsible for developments on the network, announced on Friday, November 16, that it would launch a 1 million worth accelerator for DApps and products on the Tron blockchain.
The announcement read:
“We are empowering developers by releasing #TRONAccelerator, a $1 million USD program aiming to foster innovation within the #blockchain industry. Build your DApp on #TRON, shape the future! $TRX”
According to its press release, Tron Foundation noted that the initiative is aimed at facilitating consumer adoption of blockchain technology through TRON’s ecosystem. Information on the website read, “TRON Accelerator is a $1 million USD program aiming to empower developers and foster innovation within the blockchain industry.”
As Smartereum reported, the blockchain organization acquired popular peer to peer file sharing service BitTorrent in a bid to drive the adoption of blockchain technology for the decentralized internet. The project has exhibited marked progress since the launch of its mainnet earlier this year. It has since launched the Tron virtual Machine and update to Odyssey 3.1 among other developments
Tron foundation explained that this latest accelerator program is line with the recent acquisition of acquisition of peer-to-peer file sharing service BitTorrent, Project Atlas, and payment service Poppy app.
According to the announcement, winners that will get into the program will be announced at TRON’s first international summit from 18th to 19th January 2019. A total of 56 winners are expected to emerge with first, second and third positions to get $200,000, $100,000, and $50,000 respectively. The submissions from developers are expected from December 1, according to the timeline published on the site.
“Developer teams are invited to submit their decentralized application project, build on the TRON protocol, and compete for one of the most ambitious Blockchain hackathons ever hosted,” the information read.
Accelerator programs like these and hackathons are a few ways projects attract developers to create and launch decentralized apps and products on their blockchain. What formerly used to be the exclusive reserve of Ethereum, projects like Tron, EOS, and Cardano are jostling for a share in the market for DApps and smart contracts.
Tron recently announced that it currently processes more than one million transactions and over 600,000 wallets. This comes after the Odyssey 3.1 update which TRON’s CEO Justin Sun claimed made the network about 200 times faster than Ethereum and more than 100 times cheaper when compared to EOS. In October, Tron released a new suite of tools to aid its developer community. The suite included Tron Web which connects developers to the Tron blockchain for an effortless and consistent developer experience. Other tools are TronBox and TronStudio for testing and deploying smart contracts, and TronGrid, which gives DApp developers access to Tron Network.
TRON [TRX] Price Watch
According to data from CoinMarketCap, TRON [TRX] is trading at $0.0187 slightly down from yesterday. With a market cap of $1,231,677,717, the token occupies the 11th position on the coin rankings.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.