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As reported today with its parent firm, Venom’s public testnet is now officially online.
Along with the launch of the testnet, Venom has also announced the release of several decentralized apps built in-house as a part of its expanding ecosystem. Venom is a layer-1 blockchain-based out of the Abu Dhabi Global Market (ADGM).
Testnet is live!
— Venom Foundation (@VenomFoundation) April 25, 2023
Get ready for a few months of acquiring users, onboarding projects, and attracting developers
Start collecting your early member NFTs: https://t.co/QtnTDagq8O pic.twitter.com/PKzDUZwBUs
Details of the testnet
The design of the testnet is suitable for ecosystem developers and consumers. It allows consumers to try out different decentralized applications (dApps) while also allowing developers to test and debug blockchain protocols.
The program’s purpose is to foster creative problem-solving and the development of communities within the environment. The Venom blockchain boasts ultra-fast speed at 100,000 TPS and a dynamic sharding mechanism that promotes scalability and network dependability.
Venom has begun by organizing a repository of developer documentation to get things rolling. This will provide developers with the necessary resources and information to construct things.
The network’s interoperability is also increased, making it a practical tool for developers. Additionally, the user-friendliness of Venom’s network and its cheap transaction costs make it suitable for widespread adoption.
The Venom wallet is available through the Google Chrome extension on the Apple App Store, the Google Play Store, and desktop computers. Second, users may expedite evaluating the Venom ecosystem by claiming a free allotment of testnet tokens and getting a head start.
“We are pleased to announce the release of Venom’s public testnet, which will serve as a precursor to the mainnet’s debut very shortly. We are confident that developers will be able to build innovative dApps with our highly scalable and reliable asynchronous blockchain and that users will be able to experience them firsthand”
Peter Knez, chair of the Venom Foundation council.
The ADGM has granted Venom Foundation a license, allowing it to speed up its work on web3 projects worldwide. The Abu Dhabi Global Market (ADGM) is the regulatory authority that oversees the operations of the decentralized network.
Venom is now positioned as the world’s first compliant blockchain, thanks to the ADGM, which gives authorities and businesses the flexibility to grow, innovate, and expand. The ADGM is an oasis for investors and corporations that provide financial services.