What is Venom blockchain & why to discuss it now ?
Venom is a scalable blockchain solution that is designed to meet the needs of real-world applications. Its unique architecture and technology enable Venom to provide a high level of performance and security, making it an ideal platform for decentralized applications.
- Also Because of its uniqueness in many areas and its mission to bring transparency and innovation to the industry, we should know some basics of venom blockchain. Venom Foundation is a leading global blockchain company that aims to provide infrastructure for governments and web3 projects.
Now we will see its uniqueness.
⦁ Venom Foundation is licensed under the Abu Dhabi Global Market (ADGM) framework, showcasing its commitment to maintaining the highest level of governance and regulatory compliance.
ADGM is an oasis for investors and financial services firms, positioning Venom as the world’s first compliant blockchain, affording authorities and enterprises the freedom to build, innovate, and scale.
⦁ Scalability: Transaction per second 100000+.
Venom has a special ability called Dynamic sharding. This helps it become even better at handling lots of things at once, meaning achieving multiple operations at scale.
⦁ Venom is different from the usual blockchains, like Ethereum. It’s more advanced because it’s made up of three parts:
1. The master chain.
2. Work chain
3. Shard chain. - One important thing to know is the programming language used for smart contracts on the Venom blockchain, called “T-sol”(Threaded solidity). It’s similar to Ethereum’s “solidity” language, but there are some differences. A key distinction between t-sol and the classic solidity is t-sol’s native support for concurrency
- Hence it uses a Threaded Virtual Machine (TVM), which is a virtual machine that utilizes the actor model for efficient message-passing concurrency.
- Average transaction fee less than 0.0002$.
- Zero-emission policy.
- Layer zero blockchain.
- The Venom Foundation and Iceberg Capital have teamed up to create a special fund with a huge amount of money, 1 billion dollars! They want to use this money to help and boost the work of different teams working in the field of blockchain technology. Their goal is to invest in new and exciting blockchain projects that are just starting out, no matter where they are in the world or which blockchain they are using.
- They’ve already made some impressive partnerships with Dao makers, which is a big deal in the cryptocurrency world.
- One of the coolest things about Venom is, how it achieves consensus within a blockchain.
It uses proof of stake (POS) based on Byzantine fault tolerance.
i.e. Venom validators need to stake some Venom tokens. - Venom Offers a non-custodial venom wallet.
You can access your non-custodial Venom wallet seamlessly on laptops and PCs with our browser extension, or on the go with our easy-to-use mobile app. Also available on your App Store.
- Venom welcomes all Web 3.0 users to join in the testing network and products developed on our blockchain. we can see its statistics so we can understand the venom craze.
- Products available on Venom Testnet :
1. Venom Wallet: Non-custodial wallet with a Multisig accounts option and Ledger support.
2. Venom scan: Search and explore the immutable records of the Venom blockchain.
3. Artfi: A fractionalized NFT platform offering access to blue-chip artwork.
4. Asterizm: Build cross-chain dApps operating seamlessly across VM-based chains using a private enterprise-grade plug-and-play solution.
5. Web3.World: First DEX on Venom that enables seamless trading by pooling liquidity from investors.
6. Venom Bridge: Explore the world of interchain transactions by effortlessly transferring tokens from one chain to the other.
7. Venom stake: Secure solution for staking VENOM tokens, enabling users to maximize rewards.
8. Venom Pad: First crowdfunding platform on Venom.
9. Oasis Gallery: Trade unique digital assets on Venom blockchain’s NFT marketplace.
10. Snipa: DeFi portfolio tracker designed for users to manage their assets.
11. Numi: Numi is the first anime metaverse on the Venom blockchain that allows players to create their own gaming experience.
12. ylide: Protocol for wallet-to-wallet communication with built-in payments.
13. Gravix: Derivates DEX where you can trade a wide range of assets directly from your Venom wallet with leverage and low fees.
14. Amon: Decentralized secure e-mail powered by blockchain.
15. Venom Burn: Burn VENOM, support projects and earn unique NFT achievements.
16. OneArt: OneArt is a multifunctional wallet, offering a secure, user-friendly, and seamless experience for both Crypto and NFTs.
17. Valicit: Find & buy tickets for your dream events.
18. Seg mint: Pixels game – take your place in blockchain history.
19. Everplay: Esports tournament platform empowered by blockchain, offering fast-paced games and instant rewards.
How anyone can work with Venom Testnet?
1. Install Venom Wallet.
2. Get Venom tokens.
3. Test dApps and earn NFT.
Bottom line
Venom is a versatile and innovative blockchain that offers a range of use cases across various industries.
like DAO,SocialFi,DeFi,CBDC(Central Bank Digital Currencies),DID(Decentralized Identity),TradeFi and GameFi etc.
Venom is not just a step ahead of Ethereum, it has many more promises in the upcoming days.
Even more exciting to know how its community is growing, like a wildfire spreading good news that we all are going to witness.
Venom has a big dream. They want to have hundreds of millions of people using their blockchain technology by 2026. They want to change the way financial services work.
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