Currently, the cryptocurrency market is dominated by falling prices with no sign of recovery soon. Predictions about Bitcoin and other altcoins remain a favorite topic among analysts. Many business articles announce the cooling of “crypto fever” and even the death of virtual currencies. However, amid this gloom, TRON supports developer innovation. This effort is rekindling investor interest in the cryptocurrency industry.

The TRON Foundation confirmed in a press release that the blockchain innovation program will launch on November 17th. This should provide some relief in a highly volatile market.

TRON Accelerator Boosts Startups

Some details concerning the accelerator program were also included in the press release, with the main 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 initiative will focus majorly on giving support to startups and developers who are using the TRON network to build DApps. Given the over 600,000 active TRX wallets and the increasing transaction volume that the TRON coin enjoys, this should be an interesting deal for creators.

Part of the press release statement reads: “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’s acquisition of BitTorrent, the peer-to-peer file-sharing giant, caused ripples in the crypto industry. And through its Project Atlas initiative, the company has affirmed its commitment towards integrating the BitTorrent service on its platform. Most crypto enthusiasts believe that the company aims to distinguish itself in the crypto space with the use of torrenting. This is in addition to the strong networking capacity it offers on its Main Net platform.

By its latest initiative, TRON has shown that it is not just another virtual coin on the market. Instead, it has proven that it is committed to the long-term growth of the cryptocurrency industry.

In conclusion

The eleventh largest coin by market capitalization, TRON (TRX), has launched an accelerator program that would promote and support startups and developers building DApps on the company’s platform. TRON supports developer innovation by investing resources and providing opportunities through this initiative. The company has already earmarked $1 million to successfully fund the program.

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