A team from Abu Dhabi, known for its rich roots in the oil industry, is making waves in the burgeoning field of blockchain technology. Their venture, Venom Blockchain, leverages the potential of blockchain for diverse digital asset infrastructure and represents a significant entry into this space.
Introducing the Venom Blockchain: A Marvel of Technology
Venom operates as a foundational layer-0 blockchain network that integrates dynamic sharding and proof-of-stake (PoS) consensus methods. Designed to provide an adaptable and efficient infrastructure, this cutting-edge platform facilitates the development of a wide range of products. Venom seamlessly links government applications with traditional Web3 projects through a complex mesh network architecture.
Main features of Venom blockchain
As detailed on the official website, Venom Blockchain stands out for its robust infrastructure, capable of processing a staggering 100,000 transactions per second, with an average fee of only $0.0002 for each transaction. is.
Rapid growth and market traction
The emergence of Venom Blockchain has attracted considerable attention, as evidenced by various indicators. With a market capitalization of over $5.2 billion and a trading volume of over $200 million, the platform confirms Abu Dhabi’s strong interest in blockchain technology.
User adoption and project pipeline
Venom’s launch attracted over 1 million users in just 24 hours. This demonstrates its appeal to investors and developers keen to grow Web3 products. Additionally, the platform boasts more than 20 projects ready for debut and multiple pilot stablecoins across various jurisdictions, according to the report, and developers are It confirms that we have confidence in our infrastructure.
Abu Dhabi’s technological leap forward
The rise of the Venom blockchain is emblematic of Abu Dhabi’s mastery of embracing innovation beyond traditional sectors. This serves as a testament to the emirate’s commitment to fostering the advancement of blockchain technology.
Market reaction and VENOM token listing
On March 27, VENOM, the native token of the Venom blockchain, debuted on KuCoin, causing a significant price spike, rising over 27% in less than 24 hours. The token is currently trading at $0.6580, reflecting a recent 3.8% increase over the past trading session.
VENOM token market performance
According to data obtained from CoinGecko, in the past 24 hours, the trading volume of VENOM token surged to $62,515,705, marking a significant increase of 193.60%.
In essence, the advent of the Venom blockchain encapsulates Abu Dhabi’s bold leap into the digital age, pushing the emirate to the forefront of blockchain innovation.
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