The innovative Venom Blockchain, achieving a $380 million market cap, ranked as top 224 coin on Coinmarketcap and drawing over a million users in just 24 hours is not just touting technology, they have a grand plan to deliver blockchain to financial services at a national level.
CEO Venom Foundation, Christopher Louis Tsu states:
“Emerging markets and developing economies need blockchain the most and are ready to adopt, they see the opportunity to leap frog with technology and bring their economies to a better place”
The Venom mesh network interchain protocol was designed with the intent to support the infrastructures of entire nations, proving its aim for broad applicability. Moreover native account abstraction and the integration of smart contract-enabled wallets will permit service providers to cater to diverse retail and institutional demands, thereby driving mass adoption.
Venom Blockchain operates as a foundational Layer 0 network with hybrid Layer-1 capabilities, utilizing dynamic sharding and a proof of stake (PoS) consensus method for enhanced scalability and efficiency. Designed for the development of a wide array of products, bridging the gap between governmental applications and traditional Web3 projects with its sophisticated mesh network architecture.
Market Response and Growth Trajectory
Since its inception, the platform has achieved a market capitalization exceeding $380 million, coupled with trading volumes surpassing $7 million on leading exchanges. Further, Venom attracted over a million users within the first 24 hours of its launch.
Innovative Talent Pool
The Venom Foundation employees are dispersed across many countries, however a core development team is based in Abu Dhabi which is increasingly being recognized as a key hub for fintech innovation, highlighting the city’s move towards a spectrum of web3.0, digital infrastructure and decentralized technological advancements.
Traditionally associated with oil riches, the emirate is now demonstrating its prowess in the tech sector, challenging the notion that innovation is confined to established hubs in western countries. By encouraging emerging technologies, Abu Dhabi has created pools of talent with the knock on effect of snowballing the growth in this space.
