Venom Blockchain Surpassed 1 million Wallet Registrations In 3 Months

Venom Foundation, a leading name in the blockchain industry that has been the primary force in regulating markets to adopt blockchain technology, has recently surpassed 1 million wallet registrations. As of July 25, the first regulated Layer-0 chain in Abu Dhabi reached this remarkable milestone in an impressively short span of time since its testnet launch on April 26^th. The significant growth of Venom only indicates the mass adoption of the blockchain, which is clearly setting an example in the blockchain space.

What’s behind Venom’s growth?

Venom’s objective to promote widespread usage of blockchain technology while maintaining regulatory compliance is the major factor supporting the company’s rapid expansion. The Venom Foundation offers scalable blockchain solutions that deliver performance and security for use in real-world applications. The company has taken the lead in the sector because of its constant dedication to research and development, transparency, and strategic alliances.

Venom has been advancing since its public testnet launch by bringing dApps to its growing ecosystem. It led the users and developers to test immediately, giving the users the opportunity to experience dApps directly on the Venom blockchain while allowing the developers to test and debug them. The reason behind Venom’s phenomenal growth is not only its innovative technology; the credit also goes to the rigorous regulatory compliance along with the user-friendly environment that caters to the diverse user base.

Venom Foundation also received a license for running blockchain, which is issued by Abu Dhabi Global Market, marking its compliance with governmental standards.

Moreover, the Kenyan government and the Venom Foundation partnered strategically in May. Under their agreement, the two organizations will strive to create a “blockchain hub” in Africa that will concentrate on the creation of Web3 and blockchain technology applications.

Achievements in June:

• Venom managed to experience a staggering 277 million transactions, which is a remarkable 46% rise from the previous month.
• The platform currently has 28 million accounts using smart contracts, a 65% increase from the previous quarter.
• A tremendous 93% increase in NFTs created for on-chain or social jobs, totaling 5.8 million, is also part of the recent boom.

What’s next for the Venom Foundation?

The monumental accomplishment of one million registered wallets, along with its significant growth, denotes two things: the growing public confidence in Venom and the understanding of the enormous potential that blockchain holds. The Venom Foundation, with its remarkable track record, is only making this a reality by developing a transparent, secure, and effective alternative to conventional financial systems.

The initiatives and recent achievements are helping Venom’s advancement in offering scalable, safe, smooth, and effective Web3 solutions for practical applications toward the future decentralized blockchain-based financial systems that will influence the entire economy.