Tron Launches Tron Accelerator, a $1M dApp Incubator Program

Justine Pope
  • The Tron Foundation has announced the start of Tron Accelerator, an incubator program that plans to use $1M to fund dApps in the start-up phase.
  • The awards will be split up between 56 projects, and winners will be announced in 2019 at Tron’s niTROn summit.

Tron (TRX) recently launched Tron Accelerator, an incubator that aims to “empower developers and foster innovation within the blockchain industry.” The Tron Accelerator will use funds from the Tron Foundation to help fund decentralized applications (dApps) in their start-up phase. As the name implies, their goal is to accelerate the growth of dApps on their platform.

Since the Tron mainnet launched in June of this year, the focus in the Tron community has shifted from finishing the protocol to building dApps. The Tron Foundation hopes to be a catalyst for dApp adoption, and this Accelerator shows how they’ll use the 33 billion TRX they currently hold. Although most of these funds are frozen by the foundation, only to be unlocked in the future, that 33B still represents 34% of TRX’s final circulating supply, or $639M.

The Tron Accelerator will award a total of $1M, split up between 56 winning projects. The prize ceremony will be held in January 17 & 18 2019, at the Tron niTROn Summit in San Francisco. This will be Tron’s first international summit, and will give “[attendees] a chance to participate in high-level conversations and engage with Tron's vibrant community.”

The awards will be divided as follows:

  • 1st Prize (1 Winner): $200,000 + free travel and accommodation to niTROn
  • 2nd Prize (2 Winners): $100,000 + free travel and accommodation to niTROn
  • 3rd Prize (3 Winners): $50,000 + free travel and accommodation to niTROn
  • Special Prize (8 Winners): $30,000 each awarded to winners in 8 different categories: Best Blockchain Game, Application Tool, Decentralized Exchange, UI Design, Innovation, User Experience, Most Influential DApp, Most Onchain Activity DApp.
  • Finalist Prize (42 Winners): $5,000

The timeline for projects wishing to participate is:

  • Dec 1, 2018 - Project Submissions Opening
  • Jan 4, 2019 - Project Submissions Closing
  • Jan 5, 2019 - Judging Begins
  • Jan 10, 2019 - Winners Picked
  • Jan 18, 2019 - Prize Ceremony in San Francisco

Judges include Justin Sun (CEO & Founder, Tron), Vincent Niu (CEO, DappReview), Alex Wearn (CEO, Aurora), and many more. Full rules and documentation can be found on the Tron Accelerator website.

Dueling dApps

Could this accelerator help TRX catapult over ETH? Over the past few months, TRX has seen substantial growth in transaction count, so much that TRX has, at times, surpassed Ethereum (ETH) in transaction volume, as celebrated by Tron CEO Justin Sun:

Despite this steady growth, some critics claim that transaction count is not a reliable metric of blockchain activity. Either way, it’ll be interesting to see what happens as more dApp platforms come online and challenge ETH’s status as market leader.

Switzerland's Largest Online Retailer is Now Accepting Cryptocurrency Payments

Digitec-Galaxus, Switzerland’s largest online retail company, has reportedly decided to start accepting bitcoin (BTC) payments.

Digitec and Galaxus customers can now pay for goods and services with bitcoin and a few other major cryptocurrencies. In addition to BTC, users can make payments in XRP, ETH, Litecoin (LTC), Tron (TRX), OmiseGo (OMG), and NEO.

Digitec and Galaxus’ online retail outlets will also be taking payments in Bitcoin “Satoshi Vision” SV (BSV), Bitcoin Cash (BCH), and Binance Coin (BNB). Commenting on the Swiss retailer’s decision to start accepting cryptos, Oliver Herren, the co-founder and CEO of Digitec, remarked: 

Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development. We wanted to do that for a long time.

Coinify Will Help Convert Crypto Transfers To Swiss Francs

Herren added that Digitec decided to take cryptocurrencies as payment because people may have invested in them and they may want to use them. “Or because you cannot turn them into real money [since] your bank does not accept it. Or maybe just because you ...  like to try new things,” Herren said.

According to Switzerland’s e-commerce giant, it wants to encourage millennials, who may be heavily invested in the blockchain space, to start using cryptocurrencies for practical purposes such as paying for everyday goods and services. Price volatility of cryptocurrencies may not be an issue as Digitec and Galaxus will immediately convert crypto payments to Swiss francs using Coinify’s services, a third-party payment processor.

At present, crypto payments are only available for Switzerland-based users, however the company has said that it might allow customers in other areas to pay with crypto if their initial effort is successful.

Danish Food Takeaway Outlet Accepts Bitcoin Payments For Its 1500 Restaurants

In December 2018, Hungry.dk, one of the largest online food portals in Denmark, started accepting Bitcoin again. The food takeaway company handles orders from more than 1,500 restaurants in Denmark and had been accepting BTC payments since 2014. However, it had decided to stop taking crypto payments in late 2017 due to very long transaction processing times.

A representative from Hungry.dk noted (last year): 

We have accepted Bitcoins as a payment method for quite some time. We decided to remove the feature temporarily last year though because the average transaction time took too long, and the experience wasn’t the best.