Venom PriceVENOM

What is Venom (VENOM)?

Venom describes itself as a Layer 0 and Layer 1 network built on Mesh network technology; the whitepaper is the primary source for how this architecture is implemented. The network is designed to host large-scale national and international platforms including stablecoins, central bank digital currencies, and real-world assets such as carbon credits. The project describes its goals as overlaying next-generation digital infrastructure onto existing Web2 systems; these are the project's own claims, not independently verified guarantees. According to a PR Newswire release dated April 9, 2024, the Venom blockchain is capable of handling over 100,000 transactions per second, with its architecture innovated by a dedicated team in Abu Dhabi. The project's whitepaper outlines core features centered on speed, decentralization, transparency, and security.

VENOM is the native token of the network. Supply figures vary across sources: total supply is reported as approximately 7.36 billion VENOM on CoinMarketCap, 7.37 billion on Crypto.com, and 8 billion tokens on Tokenomist, while max supply is listed as 8 billion on several platforms and 7.2 billion on others. Circulating supply ranges from roughly 988.91 million to 2.32 billion depending on the data provider. Tokenomics snapshots (Tokenomics.com, Mar 24, 2024) list a total supply of 7,200,000,000 VENOM and a circulating supply of 2,316,163,160 VENOM (32.2% of total). Yahoo Finance lists a start date of October 4, 2022, while its overview text describes the asset as launched in 2024; the discrepancy is unresolved in public sources.

Key Specifications & Tokenomics

• Name: Venom
• Ticker / Symbol: VENOM
• Architecture: Layer 0 and Layer 1 network built on Mesh network technology
• Throughput: Over 100,000 transactions per second
• Scalability Mechanism: Dynamic segmentation and unlimited subchains
• Security Mechanism: Minimal transaction fees and electro-mechanics for validator slashing
• Category: DeFi, DAO
• Total Supply: Approximately 7.36 billion to 8 billion VENOM depending on source
• Max Supply: 8 billion VENOM (per CoinMarketCap, Crypto.com, Bybit); 7.2 billion VENOM (per Binance)
• Circulating Supply: 988.91 million VENOM (CoinMarketCap, Crypto.com, Yahoo Finance); 2.32 billion (Bybit, OKX, MEXC)
• Initial Mainnet Supply: 7,200,000,000 VENOM with 15.5% immediately unlocked
• Official Website: https://venom.foundation
• Whitepaper: https://venom.foundation/Venom_Whitepaper.pdf
• Block Explorer: venomscan.com
• Security: audit and rating information should be verified on the issuer's and auditor's official pages.

Who created Venom?

Venom Foundation is a collective of individuals and projects focused on providing funding for the continued development of the Venom network and its broader ecosystem. Based in the Cayman Islands, the foundation includes prominent figures in the financial and technological sectors. A Medium explainer titled "Understanding the Venom Whitepaper: The Next-Generation Blockchain" was published by Venom Foundation on March 30, 2023. According to a PR Newswire release dated April 9, 2024, the Venom blockchain was innovated by a dedicated team in Abu Dhabi. CB Insights maintains a page listing Venom Foundation's key management, including founders, CEO, and board directors (cbinsights.com/company/venom-foundation/people).

How does Venom work?

Venom operates as a Layer 0 and Layer 1 network utilizing Mesh network technology. Its scalability is achieved through dynamic segmentation, also known as dynamic sharding, combined with an unlimited number of subchains. This architecture allows the network to support a huge number of transactions and users without failures due to increased fees and transaction time. The technology stack ensures rapid finality, making Venom suitable for high-load systems. Security is maintained through minimal transaction fees and electro-mechanics for validator slashing, which prevent malicious entities from taking over the network. The whitepaper's table of contents includes sections on the Dynamic Sharding Protocol, Workchains, Consensus Protocol, Virtual Machine, and Threaded Solidity (T-Sol). The core feature of the technology is speed, decentralization, transparency, and security, which the project describes as the recipes of financial inclusion and digital economy.

What makes Venom unique and valuable?

Venom distinguishes itself through its ability to host large-scale national and international platforms such as stablecoins, CBDCs, and RWAs including carbon credits. The network serves to improve three main DeFi paradigms. First, it facilitates decentralization by setting up a low cost for a validator node, distributing control over the network equally to all participants rather than a single entity. Second, it proves high security through minimal transaction fees and electro-mechanics for validator slashing. Third, it presents unlimited scalability through dynamic segmentation and an unlimited number of subchains. With over 100,000 transactions per second and rapid finality, Venom is positioned as the preferred network for high-load systems, whether hosting CBDCs or global institutional infrastructure. The project aims to develop next-generation digital infrastructure that seamlessly overlays existing Web2 systems; these are the project's own claims, not independently verified guarantees.

What is Venom used for?

VENOM serves as the native token of the Venom network. The network itself is designed for hosting large-scale national and international platforms, including stablecoins, CBDCs, and RWAs such as carbon credits. It supports Web3 dApps and is ideal for high-load systems and governmental and global financial platforms. The Venom Wallet, a non-custodial wallet and browser in one, allows users to purchase, send, spend, and trade digital assets. Users can purchase VENOM and other cryptocurrencies directly through Venom Wallet, with the ability to link with decentralized exchanges. The token is also used within the broader Venom ecosystem, which includes grants programs and GameFi initiatives. Crypto.com lists VENOM conversion pairs for AUD, BRL, CAD, EUR, GBP, HKD, RUB, SGD, TWD, and KRW.

How Is the Venom ecosystem developing?

The Venom ecosystem is expanding through several initiatives. Abu Dhabi-based Venom Foundation and investment manager Iceberg Capital announced a partnership to allocate $1 billion in funding to Web3 and blockchain companies, per a TradingView idea post; the information has not been confirmed by an official announcement. The Venom Wallet app is available on Google Play and supports desktop-to-app sync. The wallet features key management, secure login, phone-based password and key generation, a unique multisignature wallet for personal and business needs, an in-app browser for visiting decentralized websites, and desktop-to-app sync. The foundation maintains an active presence on X and Medium, and the network continues to position itself for hosting governmental and global financial platforms.

How to mine Venom?

Venom utilizes a validator-based consensus mechanism rather than traditional mining. The network facilitates decentralization by setting up a low cost for a validator node, allowing more participants to contribute to network security and validation. Validators are subject to electro-mechanics for slashing, which penalizes malicious behavior and helps maintain network integrity. The consensus protocol is detailed in the Venom whitepaper. Those interested in supporting the network can explore running a validator node, though specific hardware requirements and staking details should be referenced from official documentation. The low barrier to entry for validator nodes is a deliberate design choice to distribute control over the network equally among participants.

How to keep your Venom Coin safe?

VENOM holders can use the Venom Wallet, a non-custodial wallet and browser in one, to securely manage their digital assets. The wallet offers key management, secure login, phone-based password and key generation, and a unique multisignature wallet for personal and business needs. It includes an in-app browser for visiting decentralized websites and provides control over information sharing. Users should verify the wallet's privacy policy on the official site before use. For optimal security, users should consider using hardware wallets for long-term storage, enable all available security features, verify URLs before interacting with decentralized applications, and never share private keys or seed phrases. The Venom Wallet is available for download on Google Play and supports desktop-to-app sync. Users should always download wallet applications from official sources and keep their devices updated with the latest security patches.

VENOM, like other crypto assets, is subject to price volatility, and its value can rise or fall sharply. Regulatory treatment of crypto assets varies by jurisdiction and may change, which can affect access to the network and its token. The project also carries technology risk, including smart contract vulnerabilities and the possibility that its architecture does not perform as described. This article is for reference only and does not constitute investment advice.