Tron (TRX) has managed to bring news that would spread cheer in the industry of cryptocurrency and blockchain.
It recently announced the launch of an accelerator program that would help to support and promote developers building DApps and other applications on their platform. 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. In also provides resources to developers.
“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.”
Following the recent acquisition of peer-to-peer file sharing service BitTorrent, Project Atlas, and payment service Poppy app, the initiative aims to facilitate consumer adoption of blockchain technology through TRON’s ecosystem. TRON’s protocol currently processes more than one million transactions and 600,000 wallets.
Gloom and doom in the crypto world
A pall of doom and gloom is currently surrounding the falling crypto market, as prices for Bitcoin and most of the altcoin market reach their relative low for 2018. The launch gives 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. Many analysts have pointed out that the growth of cryptocurrency has grown exponentially in terms of product development and consumer adoption. Industries as far reaching as car manufacturers and social media platforms are seeking to integrate crypto and blockchain.
Tron on a roll
In October, TRON’s CEO Justin Sun claimed its update dubbed Odyssey 3.1 would see it beat Ethereum on speed and EOS on cost. The changes include the launch of the TRON Virtual Machine, which would allow developers to test smart contracts before they transfer to the TRON mainnet.
In October again, TRON and China’s largest Internet search provider Baidu announced they will cooperate on cloud computing resources. The partnership between the two firms remains focused on the purchase and use of Baidu’s basic cloud computing resources, rather than being a connection “at the blockchain business level.”