Venom achieves a major milestone in its first public testnet launch with 223,446 wallets created

Last week, we wrote about Venom after the Abu Dhabi-based Layer-1 blockchain organization launched its long-anticipated public testnet following many years of development. The launch marks a significant accomplishment in Venom’s roadmap as it prepares to launch on mainnet.

Now, the numbers are in and the launch was a huge success. The achievement was a major milestone for the company, including some mind-blowing stats. In just 7 days of testnet, Venom Blockchain saw over 220,000 unique wallets created, 69,000,000 transactions completed, and 1,370,189 NFTs minted.

In a post on Medium, Venom thanked its incredible community of participants for the pivotal role they played in “refining the Venom ecosystem, ensuring an improved experience for all users.”

“We are grateful for the incredible support and enthusiasm we have witnessed during the launch of the Venom Testnet. The community’s growth, NFT minting, and bug reports have all played a crucial role in helping us build a stronger, more resilient ecosystem,” Venom said.

Venom also took to social media to thank the participants.

“A massive thank you to our incredible community for participating in this first week of #VenomTestnet! With your help, Venom will pave the way for a brighter future.”

https://twitter.com/Venom_network_/status/1653767894948356097

Going forward, Venom said it will continue to refine and expand its offerings for Venom’s ecosystem and community.

The recently completed launch enables developers to 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 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.