Abu Dhabi-based Venom Foundation launches its public testnet
Daniel Levi
Posted On April 25, 2023
Venom, the first Layer-1 blockchain licensed by the Abu Dhabi Global Market (ADGM), today launched its public testnet after years of development. The milestone marks a significant accomplishment in Venom’s roadmap as it prepares to launch on mainnet. The public testnet is officially live and now available to developers and users.
Alongside the testnet launch, Venom has also revealed various in-house decentralized applications that form part of its expanding ecosystem. The news comes just two months after Venom partnered with DAO Maker to incubate Web3 startups focused on delivering real-world use cases.
The testnet has been designed to cater to both ecosystem users and developers, facilitating the testing and debugging of dApps and blockchain protocols for developers, while also allowing users to engage with these dApps directly. The ultimate objective of the program is to stimulate innovation and foster community building within the ecosystem.
To take advantage of the testnet, developers and users can follow two straightforward steps. Firstly, they can download the Venom Wallet through the Apple App Store or Google Play Store for mobile, or as a Google Chrome extension for desktop. Secondly, users can commence their exploration of the Venom ecosystem by claiming a free testnet allocation.
“We’re excited to announce the launch of Venom’s public testnet, a crucial step towards our upcoming mainnet launch. With our highly scalable and reliable asynchronous blockchain, we’re confident that developers will be able to build innovative dApps, while users will be able to experience them firsthand,” said Peter Knez, Chair of the Venom Foundation Council.
With the launch, developers can now leverage the asynchronous Venom blockchain, which boasts a rapid transaction processing speed of 100k TPS, and a dynamic sharding feature that enhances scalability and network dependability. To assist developers in getting started, Venom has compiled a repository of developer documentation, equipping them with the necessary tools and knowledge to build on the platform.
Venom’s network boosts interoperability making it a viable tool for developers, while its low transaction fees make it user-friendly for global adoption.
A host of dApps debut on the testnet
Several dApps are to make their debut on Venom testnet. Users can test them out by performing transactions, testing the native Venom wallet and much more.
- Venom Wallet
- Venom Scan
- VenomPools
- Venom Bridge
- Venom Stake
- Web3.World
- WeUp
- NFT Mint
- Oasis.Gallery
Venom Foundation is licensed by the ADGM and enables the acceleration of global Web3 projects. The decentralized network operates under the jurisdiction of the Abu Dhabi Global Market (ADGM). The 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.
A portfolio of in-house dApps and protocols has been developed on the Venom blockchain by various companies. With capabilities of dynamic sharding, low fees, ultra-fast speed and scalability, Venom harbors the potential to function as the main infrastructure for a global ecosystem of Web3 applications, possessing ultra-fast transaction speeds and infinite scalability to meet the demands of an ever-expanding user base.
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