Tron (TRX) Launches $1M dApp Incubator Program
Tron Foundation will support developers building dApps on the network with a $1 million fund.
Tron Foundation, the company behind the Tron blockchain media project and the Tron (TRX) cryptocurrency, is launching a $1 million accelerator program to support developers building decentralized applications (dApps) on the network.
“We are empowering developers by releasing #TRON Accelerator, a $1 million USD program aiming to foster innovation within the #blockchain industry. Build your DApp on #TRON, shape the future! $TRX,” the foundation said in a Twitter post on Friday.
According to the accelerator’s website, the initiative will kick off next month, with submissions being accepted until January 4. Participation is open to all dApp developers, but a panel of judges will choose 56 winning projects. The first, second, and third positions are to receive $200,000, $100,000 and $50,000, respectively. There will also be eight $30,000 special prizes split into eight categories, like “most influential dApp,” “excellent blockchain game” and “excellent decentralized exchange.” All of the 42 finalists will receive a $5,000 bonus. Winners will be announced at Tron’s first international summit on January 18.
Explaining its motivation behind the program launch, Tron said:
“We would like to share our high performance blockchain infrastructure with all the developers, providing a platform for developers to build their dApps on TRON’s Network with high transaction speed, low development fees and user-friendly experience, and at the same time, boosting the TRON dApp ecosystem.”
The accelerator program is Tron’s latest push in its effort to become the preferred blockchain for customer use following the recent acquisition of peer-to-peer file sharing service BitTorrent, Project Atlas, and payment service Poppy.
Over the past few months, Tron has seen substantial growth in dApp transaction volume, surpassing that of rival network Ethereum (ETH), data from dapp.review shows.
The analytics website tweeted on Saturday that the most successful dApp on the Ethereum network, IDEX, had 2,430 ETH transactions in the span of 24 hours. Meanwhile, Tron’s Tronbet clocked over 422 million TRX transactions.