The Tron Foundation has released a statement announcing the official launch of the Tron Accelerator, a program seeking to fund up to $1 million in DApps, decentralized apps, at their incubation stage.
56 projects will share the $1Million funding
Fifty six projects will participate in program whose winners will be announced In January next year during Tron’s annual niTROn Summit in San Francesco. The $1 million price will be drawn from the Tron foundation’s fund.
Through its twitter handle, Tron Foundation announced, “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 ultimate goal of the incubator program is to expedite the development and adoption of DApps within Tron’s platform.
Tron is positioning itself as a leading crusader for blockchain technology campaigning for a decentralized internet. The platform recently acquired the P2P platform BitTorrent for a speculated $126 million.
Tron also acquired project Atlas that will be used to integrate the blockchain platform with its new subsidiary, BitTorrent. Tron also bought the digital payment system Poppy app for an undisclosed amount.
Program’s big winners
Applicants will register for the incubator program throughout December prior to the announcement of the 56 winners. The top three winners will receive a total $350,000 in funding with the first getting $200,000, while the second takes home $100,000 and the third taking $50,000.
The price comes with a free travel and accommodation package to the 2019 niTROn summit.
The applicants will have to convince a panel of judges including Tron’s CEO and Founder, Justin Sun; Vincent Niu, the CEO of DappReview; and Aurora’s CEO Alex Wearn.
In the recent past, numerous governments and big corporations have bet big money in exploration activities seeking to come up with the application of the technology in various sectors. China and the US are in a tight race for the global leadership of blockchain and Artificial Intelligence (AI) technologies.