Neo Global Development has announced TranslateMe as the third project accepted into the N3 Early Adoption Program, intended to incentivize the development of new dApps on the Neo N3 blockchain. TranslateMe joins two Neo Frontier Launchpad winners, TOTHEMOON and Humswap, as participants in the program. As such, NGD will offer funding and technical support opportunities to foster TranslateMe’s growth.
TranslateMe is an instant translation service that has been in the Neo ecosystem since 2018. The service utilizes a trustless protocol that leverages machine translation and blockchain technology. Through machine learning and human validation, content is said to be translated with 99.9% accuracy. Human validators can suggest improvements, review each other’s edits, and vote on the most accurate translations.
The TranslateMe team intends to explore new features of the N3 blockchain following its migration from Legacy. Examples include storing network data, minting TMN tokens for contributors as their translation data is validated, and using Neo’s oracle network to bridge off-chain data with the TranslateMe Network pipeline.
According to the TranslateMe team, the current translation market is worth an estimated US $40 billion and is expected to grow at a rate of 19% annually. The team states the platform offers a market advantage because of its lower costs and incentive-driven machine translation algorithm that learns from human corrections.
N3 Early Adoption Program Details
NGD’s Early Adoption Program has allocated US $10 million in grants for qualified teams and individuals. The goal of the program is to increase overall participation in the Neo ecosystem. NGD hopes that new ecosystem entrants building on Neo N3 can optimize the network through real-world use and testing. Ultimately, NGD believes the program can help establish Neo N3’s infrastructure while simultaneously bolstering awareness.
The NGD team hopes to see a variety of dApp and product ideas, with a particular interest in the following types of projects:
- Infrastructure for the Neo N3 MainNet (i.e., browsers, compilers, middleware)
- Product development based on NeoID, NeoFS, oracles, and other core components of Neo N3
- Application layer uses (i.e., DeFi, NFTs, and general dApps)
- Concepts with business use cases merging physical and digital worlds (i.e., social media, e-commerce projects)
- Regulation-facing use cases (i.e., payment and traditional financial digitization projects)
More information about applying can be found on the Eco Support section of the neo.org website.
The full announcement can be found at the link below: