Venom Network—the first blockchain under the regulatory oversight of Abu Dhabi Global Market (ADGM) International Financial Centre—has unique features worth exploring. Let's dive in!
Venom Network Overview
Venom is a Layer 0 blockchain utilizing Proof-of-Stake (PoS) consensus, developed and maintained by Venom Foundation. It’s the first organization licensed by ADGM to operate a blockchain and issue utility tokens.
The project boasts scalability, security, transparency, and efficiency, enabling users to build blockchain-based solutions and execute transactions safely. Currently, Venom Blockchain is in the testnet phase.
👉 How to qualify for Venom Network’s airdrop
Key Features of Venom Network
Byzantine Fault Tolerance (BFT) Algorithm
- Ensures transaction completion even if some nodes fail (similar to Aptos’ Layer 1).
- Trade-off: Higher success rate but potential slower speeds and increased gas fees during errors.
Threaded Virtual Machine (TVM)
- Enables asynchronous communication between accounts via messaging.
- Processes multiple smart contracts concurrently, improving performance vs. traditional VMs.
Real-Time Scalability
- Addresses blockchain’s common bottleneck: handling increasing workloads.
Security & Stability
- Protocol designed for system security and validator incentives.
Low-Cost Transactions
- Maintains low gas fees despite high throughput.
CBDC Support
- Facilitates transactions using central bank digital currencies (CBDCs).
Venom Network Products
| Product | Description |
|---|---|
| Venom Blockchain | Layer 0 architecture with Masterchain, Workchain, Shardchain (100K–1M TPS theoretically). |
| Venom Wallet | Stores VENOM tokens, NFTs, supports Web3 market access, and cross-token swaps. |
| Venom Scan | Tracks transactions, fee charts, and network data. |
| Venom Bridge | Enables cross-chain token swaps (Venom, Fantom, BSC, Ethereum). |
The ecosystem also spans GameFi, DeFi, DEXs, and SocialFi.
VENOM Tokenomics
Token Details
- Name: Venom Token
- Ticker: VENOM
- Blockchain: Venom Network
- Standard: TIP-3
- Type: Utility, Governance
Token Allocation
- Ecosystem: 28%
- Community: 22%
- Foundation: 15%
- Validators/Market Liquidity: 10% each
- Team/Early Backers: 7% / 7.5%
- Public Sale: 0.5%
Utility
- Transaction fees
- Staking (network security)
- Governance voting
VENOM Storage & Exchanges
- Wallet: Venom Wallet (native support).
- Exchanges: To be announced.
Project Backing & Roadmap
- Backed by a $1B investment fund under ADGM supervision.
- Roadmap: Pending updates.
FAQs
Is Venom Foundation licensed?
Yes, it’s fully licensed under ADGM’s regulatory framework.
Can I store VENOM on MetaMask?
No—use Venom Wallet for all transactions.
Conclusion
Venom Network combines regulatory compliance, cutting-edge tech, and a low-fee, high-speed blockchain. Keep an eye on its roadmap for future developments!
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Note: This is not investment advice.