TRON (TRX) Launching Million Dollar Program to Accelerate Cryptocurrency Projects
Cryptocurrency, TRON (TRX)–Despite the doom and gloom surrounding the falling crypto market, as prices for Bitcoin and most of the altcoin market reach their relative low for 2018, one currency has managed to find ways to ignite some excitement in the industry of cryptocurrency and blockchain.
TRON, the eleventh largest coin by market capitalization, recently announced the launch of an accelerator program that would help to support and promote developers building DApps and other applications on their platform. In addition to providing resources to developers, the initiative has $1 million in funding attached to help financially invigorate new innovation, with a target on growing both the space of cryptocurrency and the protocol established by the parent company.
According to the press release sent out by the TRON Foundation, the blockchain innovation program is set to launch Nov. 17th, giving a small glimmer of hope as market prices continue to see red. TRON was able to recover a few percentage points of the price fall experienced across the board of cryptocurrencies, but–regardless of the current valuation–is doing its part to continue driving interest and furthering development in the industry. As many analysts have pointed out during 2018’s ongoing bearish market, the space of cryptocurrency has grown exponentially in terms of product development and consumer adoption, with industries as far reaching as car manufacturers and social media platforms seek to integrate crypto and blockchain.
Accompanying the press release were a few details on the accelerator program, with the focus seemingly on building novel and interesting projects rather than rehashing what has already been done in terms of cryptocurrency capacity. The early stages of the program are geared towards supporting developers and startups creating DApps using the TRON network, an interesting proposition for creators given the rising transactional volume of TRON and the 600,000+ active TRX wallets,
“TRON Accelerator is a 1,000,000 USD online competition rewarding up to 56 winning DApp projects across multiple categories. First prize features a 200,000 USD reward. Prizes are product based. Teams can submit multiple products and potentially win multiple prizes.”
TRON made tidal waves in the space of cryptocurrency and decentralized technology following its acquisition of peer to peer file-sharing giant BitTorrent, with the company further committed to integrating the service on TRON’s platform via the Project Atlas initiative. Torrenting could be one way that the currency distinguishes itself further in the crowded space of cryptocurrency, but the currency does offer strong networking capacity through the Main Net platform. DApps, such as those currently featured on high profile currency Ethereum, are one of the more invigorating projects to come out of the space of crypto in the last several years.
Rather than relying upon the TRX coin for being another sole-transactional cryptocurrency, founder Justin Sun and the TRON Foundation are continuing to find ways to draw developer interest and attract creators that are willing to construct novel technology in the space of cryptocurrency. Despite this week’s plummet in cryptocurrency valuation, which saw tens of billions wiped from the market capitalization, TRON has committed to investing in the long-term growth of both its platform and the broader industry.