The Tron Foundation revealed in its latest tweet that it would be releasing a new accelerator program that will provide support, funding, and insights for blockchain startups.
The TRON Accelerator, which launches next month, invites blockchain developers to submit their decentralized Apps, built on the TRON protocol, and compete for $1 million in prizes.
The company says the event will suit a wide range of people and startups, from those who have worked with blockchain for a while to those keen to learn.
It further explains: “TRON will accept submissions to its accelerator, from the 1st of December to the 4th of January 2019, by Midnight (PST), through the Accelerator’s new site. The projects will be reviewed by a panel of judges and the winners will be announced during TRON’s first international summit (niTROn) in San Fransisco, on the 17th of January 2019.”
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Founded by the Chinese entrepreneur Justin Jun, TRON is a blockchain-based protocol dedicated to creating what it calls a “decentralized and free internet.” The TRON network provides mechanisms for allocating the value of user-generated content, with anyone who contributes content being entitled to profits of proportional value.
The company has its own crypto-currency, dubbed TRX, which had a market cap of $1.25 billion at the time of writing.
Last month, Tron Foundation said it would be working closely with Baidu, a China-based internet giant, to work on a large cloud service with the final goal of providing better blockchain solutions. The announcement confirms that despite its crackdown on cryptocurrencies, Baidu is still interested in utilizing the blockchain technology.
In addition, Tron has recently closed a deal to buy the file-sharing service BitTorrent for a reported sum of $126 million.