Venom, a Layer-0 blockchain platform based in the Abu Dhabi Global Market, has announced the official launch of its public testnet after years of development. It signifies a significant milestone in Venom’s roadmap as it approaches its mainnet launch. In addition to the testnet release, Venom has unveiled a suite of decentralized applications (dApps) developed in-house.
A Brief Explanation of Venom’s Testnet
The design of the testnet caters to both developers and ecosystem users. It enables the former to test and debug dApps and blockchain protocols while allowing the latter to experience the dApps firsthand. The program aims to encourage innovation and community building within the ecosystem.
The testnet is accessible to developers and users via two simple steps. Download the Venom Wallet on mobile via the Apple App Store or Google Play Store, or on the desktop as a Google Chrome extension. Then, users can start their journey of testing the Venom ecosystem by claiming a free testnet allocation.
Peter Knez, Chair of the Venom Foundation Council, stated:
“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.”
Developers can build on the asynchronous Venom blockchain, which boasts ultra-fast speed at 100k TPS. It also has a dynamic sharding feature that enhances scalability and network reliability. To assist developers, Venom has compiled a repository of developer documentation that equips them with the necessary tools and knowledge to start building.
A Building Block For An Interoperable Blockchain Ecosystem
Venom’s network facilitates interoperability, making it a viable tool for developers. In addition, its low transaction fees make it user-friendly for global adoption. Several dApps are set to debut on the Venom testnet, and users can test them by performing transactions, experimenting with NFTs, etc.
Venom’s public testnet is a significant step toward the upcoming mainnet launch. The platform’s unique features, such as its asynchronous blockchain and dynamic sharding, enable developers to build innovative dApps, while users can experience them firsthand.
As a Layer-0 blockchain, Venom operates within the purview of the ADGM, which provides a conducive environment for investors and financial service firms. This favorable jurisdiction establishes Venom as the first-ever compliant blockchain, allowing regulators and enterprises to build, innovate, and scale their operations confidently.
Moreover, various companies have developed a range of in-house dApps and protocols on the Venom blockchain. With its dynamic sharding feature, low fees, ultra-fast speed, and remarkable scalability, Venom can emerge as a key facilitator for adopting central bank digital currencies (CBDCs) in the Middle East, North Africa, and beyond.
