Breaking: Abu Dhabi Launches New Venom Blockchain
With the growing adoption of blockchain technology in various digital asset infrastructures, a team from Abu Dhabi, known for its wealth from the oil industry, has made a significant entry into the space with the launch of the Venom Blockchain.
Venom Blockchain Market Cap Surges ๐
Venom operates as a foundational Layer 0 blockchain network, equipped with dynamic sharding and a proof of stake (PoS) consensus method. Designed to offer a scalable and efficient infrastructure, this advanced blockchain platform is tailored for the development of diverse products. It seamlessly bridges governmental applications and traditional Web3 projects through its sophisticated mesh network architecture.
- The distinguishing feature of the Venom blockchain is its infrastructure, which, according to its official website, is capable of processing 100,000 transactions per second, with an average fee per transaction of just $0.0002.
- The Venom Blockchain currently boasts a market capitalization of over $5.2 billion and a trading volume of over $200 million, highlighting Abu Dhabiโs interest in the technology.
Over One Million Users In The First Year ๐
The launch of Venom had a significant impact, attracting over one million users in 24 hours, demonstrating the platformโs appeal to investors and developers for building Web3 products.
- The platform reportedly has over 20 projects ready to debut and several pilot stablecoin initiatives in different countries, underscoring developersโ confidence in its infrastructure.
- The rise of Venom Blockchain underscores Abu Dhabiโs ability to adopt innovation beyond traditional sectors and demonstrates the emirateโs interest in promoting blockchain technology.
VENOM Token Listing Leads to Price Surge ๐
On March 27, the native token of the blockchain, VENOM, was listed on KuCoin, leading to a significant price surge of over 27% within 24 hours. Presently, the token is trading at $0.6580, reflecting a recent increase of 3.8% in the past trading hour.
In the past 24 hours, the trading volume of the VENOM token has reached $62,515,705, marking a notable increase of 193.60%, according to CoinGecko data.
Featured image from Shutterstock, chart from TradingView.com
Hot Take: The Future of Venom Blockchain ๐
As the cryptocurrency landscape continues to evolve, the launch of the Venom Blockchain by Abu Dhabi represents a significant step towards pushing the boundaries of blockchain technology. With its focus on scalability, efficiency, and diverse product development opportunities, Venom is poised to make a lasting impact on the digital asset space. Keep an eye on Venom Blockchain as it paves the way for innovative solutions and attracts a growing user base in the evolving world of blockchain technology.
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