Currently, the cryptocurrency market is dominated by ever-falling prices, which are showing no signs of recovering any time soon. Predictions and counter predictions of the prices of Bitcoin and other altcoins seem to be the favorite sport of analysts. In addition, most business articles are filled with analysts gleefully announcing the cooling of “crypto fever” and the subsequent death of virtual currencies. But in the midst of this doom and gloom, there is a currency rekindling the interest of investors in the cryptocurrency industry.

TRON (TRX) recently unveiled the launch of its accelerator program whose major aim is to promote and support developers by creating DApps and sundry other applications on its platform. TRON, which is currently the eleventh largest coin by market capitalization, has already funded the initiative with $1 million and it is expected to go towards funding new innovations, “with a target on growing both the space of cryptocurrency and the protocol established by the parent company.”

The TRON Foundation, in a press release statement, confirmed that the blockchain innovation program will be launched on November 17th. This is sure to provide a small amount of relief in a highly volatile cryptocurrency market.

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 has already earmarked $1 million to successfully fund the initiative.

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