De crypto from the Venom Foundation has skyrocketed after a successful closed network test revealed impressive throughput results.
The scalable blockchain Venom claims it can handle higher throughput than Solana. On Friday, May 23, the Venom Foundation announced a successful closed-network beta test. The network reached a whopping 150.000 transactions per second, exceeding Solana’s theoretical limit of 65.000 TPS.
For the Venom Foundation, this is an important step in the run-up to the mainnet launch, which is scheduled for Q2025 XNUMX. This would position Venom as one of the highest throughput blockchains in the world.
For comparison, Solana advertises a theoretical limit of 64.000 TPS, while payments giant Visa can process 24.000 TPS. Following the successful test, Venom’s token value increased by 2%, reaching a daily peak of $0,1031.
The Venom Foundation reveals that the goal of this stress test was to verify that the blockchain is ready for enterprise applications in DeFi. This includes payment providers, crypto exchanges, and games, among other DeFi users. These are exactly the platforms that need a reliable and scalable blockchain that won’t buckle under network pressure.
“Throughput is only relevant if it remains reliable under pressure,” said Christopher Louis, CEO of Venom. “Our new technology can handle enterprise-scale workloads without spiraling costs or sacrificing decentralization — exactly what payment providers, exchanges, and game studios need.”
Venom uses directed acyclic graph technology, which differs from traditional blockchains that record transactions one at a time. Unlike blockchains, transactions can be confirmed in parallel, as long as they don’t interfere with each other.
Based in Abu Dhabi and registered in the Kaiman Islands, the Venom Foundation is a non-profit organization that supports the development of its layer-1 blockchain. Their focus is on building a scalable blockchain for DeFi applications.
“They say big things often come in small packages – but who would have thought blockchain could also fall out of the sky?”
The Venom Foundation is poised to transform the world of DeFi. Now, with these promising results, it is the right time for developers, businesses, and innovators to join this exciting evolution. The future is now, and Venom is at the forefront of this digital revolution.
What makes Venom unique compared to other blockchains?
Venom uses an innovative technology that allows transactions to be processed in parallel, resulting in an unmatched throughput of 150.000 transactions per second.
Where does the Venom foundation stand in terms of launch?
The Venom Foundation has scheduled the launch of their mainnet for Q2025 XNUMX, following a successful closed-network beta test.
What are the main applications of the Venom blockchain?
Venom focuses on serving the DeFi sector, including payment providers, crypto exchanges, and gaming, providing a reliable and scalable solution for these users.