History of Venom
In 2018, Christopher Louis Tsu and Dr. Kai-Uwe Steck began exploring the potential of blockchain technology. This took a pivotal turn when they engaged with an investment group from the United Arab Emirates, who sought to establish a next-generation blockchain capable of scaling to any workload.
Through years of deliberation, the foundation of the Venom network was built.The closed testnet was deployed in April 2022, and by April 2023, it was opened to the public. In March 2024, Venom launched its mainnet, subsequently listing on several top exchanges. The launch of the mainnet was successful, showcasing the quality management of Venom's core development team. At the core of the project is a blockchain designed for limitless scalability, low gas fees, and rapid transaction speeds, attracting a host of skilled developers to contribute to the ecosystem.
Venom, now a Layer 0 and Layer 1 network, has established itself as a highly scalable host for Web3 applications in DeFi and global payments. The network’s architecture is a multi-blockchain system powered by dynamic sharding and Mesh technology. The Venom Foundation’s main objective is to cultivate a self-sustaining blockchain ecosystem, which has already shown results through platforms like VenomWallet, VenomScan, VenomGet, VenomBridge, VenomPools, and Web3.World.
What is Venom’s mission?
Venom Foundation offers a wide range of blockchain solutions for individual developers, companies, and government authorities. These include fiat-backed stablecoins, CBDC initiatives, real-world asset projects, decentralized exchanges, bridges, NFT marketplaces, derivative exchanges, GameFi projects, and launchpads, among others. The foundation’s vision is to facilitate the creation of groundbreaking products with the potential for global adoption, staying at the forefront of blockchain innovation.
What is $VENOM? What are its use cases?
$VENOM is the native token of the Venom blockchain and, as such, in addition to being a store of value, acts as a skeleton key, capable of opening up all the possibilities in the Venom ecosystem. There are a multitude of web 3 opportunities available in the Venom ecosystem, and with the $VENOM token, users can connect to DEXes, engage in staking and farming activities, trade for other assets, pursue the many gaming opportunities on offer and much more.
What sets $VENOM apart from other blockchain projects?
First and foremost, Venom is the most scalable blockchain in existence. The network was designed to be able to adapt to workloads of any size, with an eye towards providing services for massive platforms and projects, from governments to international financial systems. This vision has already come to fruition in the form of a groundbreaking partnership with the Philippines, which will see Venom digitizing approximately 10 billion accountable forms: https://npo.gov.ph/venom-blockchain-boosts-digitization-in-the-philippines/.
Venom, as a Layer 0 and Layer 1 network, differentiates itself from other blockchains by virtue of its adaptability. As a heterogeneous multi-blockchain system, Venom is an ideal, highly scalable host for Web3 applications in DeFi and global payments. The network’s ability to adapt is rooted in its underlying dynamic sharding protocol and Mesh technology.
What can we expect from Venom this 2024?
In the immediate term, the Venom Foundation is dedicated to increasing awareness and user engagement within our ecosystem, aiming to:
● Launch a comprehensive ecosystem rollup featuring over 30 ready-to-launch products.
● Support emerging projects with liquidity, joint promotions, hackathons, and market-making efforts.
● Introduce gamification elements (including meme coins) to encourage frequent interaction with our network.
● Leverage ambassadors and Key Opinion Leaders to engage our target audience.
Additionally, Venom will continue to expand its profile as a network capable of hosting massive platforms as it launches its Philippines’ initiative and becomes further enmeshed in global financial structures.
