Venom Foundation, a pioneering force in the adoption of blockchain technology within regulated markets, has surpassed one-million registered wallets as of July 25. The momentous accomplishment came in a remarkably short span of time since the launch of Venom's testnet on April 26th. The substantial growth signifies the accelerating popularity and adoption of Venom's advanced blockchain solutions, setting a new benchmark in the field.
Venom's rapid growth is due to its innovative technology, rigorous regulatory compliance, and secure, user-friendly environment catering to a diverse user base. Smooth operations and regular updates on the Venom testnet further strengthen its appeal, aiding in attracting and retaining users.
Just in June:
- Venom recorded an astounding 277 million transactions, a significant increase of 46% from the previous month.
- The platform saw a 65% surge in the number of accounts with smart contracts, which now stand at 28 million.
- The recent growth also includes a remarkable 93% rise in minted NFTs as part of on-chain/social tasks, reaching 5.8 million.
Venom's mission to mainstream the adoption of blockchain technology while adhering to regulatory compliance continues to be the driving force behind its exponential growth. The organization's unwavering commitment to research and development, transparency, and strategic partnerships has positioned it at the forefront of the industry.
It's noteworthy that the Venom Foundation is the first to be granted a license to run a blockchain, licensed by the Abu Dhabi Global Market (ADGM), standing as a testament to its compliance with international laws and stringent governance standards.
Christopher Louis Tsu, acting CTO and CEO Venom Foundation commented:
Frankly speaking, it took me completely by surprise. We had 250,000 users in the first six days. Can you imagine opening a new shop in town, drawing the curtains back and seeing quarter of a million people lined up outside your door
The landmark achievement of one million registered wallets, coupled with its substantial growth, signifies the increasing public trust in Venom and the recognition of the immense potential blockchain holds for creating a transparent, secure, and efficient alternative to traditional financial systems.
For more information about Venom Foundation's technologies, framework, and potential platform uses, refer to the Foundation's whitepaper.
About Venom Foundation
The Venom Foundation provides scalable blockchain solutions for real-world applications, delivering performance and security. With a forward-thinking approach, the foundation envisions a future global economy where decentralized blockchain-based financial systems enable governments, businesses, and consumers to operate seamlessly, unlocking enhanced transactional capabilities. Recognizing the pivotal role of distributed ledger technology in shaping the economy, the foundation is committed to driving the next phase of financial evolution.
While progress has been made, continuous advancements in blockchain technology remain essential to tackle future challenges. The foundation's mission centers around propelling the evolution of the entire global economy.
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