The launch of the $2.5 million incubation program TON:Acc by TON Accelerator aims to stimulate advancements within its blockchain.

TON Accelerator TON Accelerator has introduced the TON:Acc program, specifically targeting the enhancement of startups focused on development within the blockchain. The Open Network For those developing on the TON blockchain, this program not only provides financial backing but also integrates these projects into a progressively growing TON ecosystem.

During its inaugural cohort, TON Ventures, a venture capital firm dedicated to supporting projects in the TON ecosystem, will select five startups for investments as high as $2.5 million each. This funding will help them transition from their nascent ideas to well-rounded products within just three months. In addition, participating teams will receive essential support, mentorship, and expert resources.

As part of its efforts to nurture the ecosystem, TON Ventures is launching the TON:Acc Portal. This platform is tailored to provide startups with tools to enhance their outreach and visibility, while simultaneously helping investors discover new projects.

Aspiring participants can now apply to gain entry to various acceleration programs, mentorship opportunities, and a wealth of partner connections linked to TON Ventures.

Serving as a Layer 1 Proof-of-Stake (PoS) blockchain, TON employs the Byzantine Fault Tolerance protocol known as 'Catchain Consensus' to achieve network agreement, block formation, and transaction verification. This advanced setup is tailored to TON’s distinctive blockchain architecture, particularly its sharding approach.

The introduction of the TON:Acc program is particularly well-timed, considering the substantial progress TON has made throughout 2024. The total value locked (TVL) on the platform surged from $13.5 million in January to over $350 million by September, as reported by DeFiLlama. Additionally, the user base and daily active addresses on TON have now outstripped those of Ethereum. Coupled with its access to Telegram’s vast monthly user base of 950 million, developers have thrived in the TON environment.

Despite its success, the network has faced challenges, including two notable incidents on August 27th and 28th, attributed to surging transaction loads that followed the launch of the ecosystem. Please bear in mind that the content on this page is not meant to serve as legal, financial, investment, or other forms of advice. It is crucial to only invest what you can afford to lose and consult independent financial guidance if you're uncertain. For further details, please refer to the terms of service along with the help resources provided by the issuer or advertiser. MetaversePost is committed to delivering accurate reporting, yet market dynamics can change unexpectedly. TON’s ecosystem Alisa, a passionate journalist at Cryptocurrencylistings, delves deep into cryptocurrency, zero-knowledge proofs, investments, and the expansive world of Web3. With a sharp eye on budding trends and technological advancements, she provides readers with thorough analysis and insights into the fast-evolving financial digital landscape.

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