Revolutionizing Blockchain: Venom Testnet’s Third Month of Progress and Developments
July marks the third month of Venom Testnet and what an incredible journey it has been. We’ve had several exciting dApp’s launched, a global virtual hackathon, and major network upgrades implemented based on your feedback. But through it all, one thing remains certain — the trust and support of the Venom community, which is evident in our growing numbers.
This spurs us to continue building a high-performance blockchain and forge strategic partnerships with organizations in both the Web2 and Web3 space. After all, our mission is to onboard the next billion users, and we’re glad to have you here as an early adopter!
Here’s a quick recap of all the happenings on Venom Testnet:
Venom Testnet in Numbers
We feel privileged to see the Venom Testnet growing steadily. Compared to the previous month, we have recorded:
- 355M transactions with an average of 29.22 transactions per second, a 33% increase
- 38M accounts (smart contracts), a 41% increase
- 1M wallets, a 26% increase
- 7.6M NFTs minted as part of on-chain/social tasks, a 41% increase
- 388M messages with an average of 34.85 messages per second
Network Upgrades and Enhancements
Our mission at Venom is to build a blockchain for all users, serving as the global infrastructure for Web3 applications. We recognize that blockchain technology is ever evolving, resulting in there being a constant need for improvement. This makes our research and development process an ongoing effort.
This month, we made significant upgrades to our network such as:
- Enhancing the block output speed.
- Making major modifications and improvements in the interaction of shardchains.
- Altering the procedure for selecting a collator for shardchains.
These upgrades boost efficiency by enabling our network to process more operations within the same time frame. Additionally, we made several updates to the Venom Wallet regarding bug fixes and functionality support. Do remember to update your wallet to the latest version to ensure that it operates smoothly.
Venom Ecosystem Welcomes A new dApp
We’re all about open-source culture and sharing our technology with the developer community for the greater good of Web3. This July, we’re proud to expand our ecosystem with Gravix.
Gravix is a decentralized perpetual exchange where users can trade a wide range of assets. This all-in-one trading platform offers the advantage of up to 200x leverage, and convenient trading on-chain directly from users’ wallets. Gravix also relies on the Chainlink Oracle, providing the average asset prices of dozens of exchanges. This means that users can enjoy reliable prices without the risk of sudden spikes.
Head over to our Testnet website to check it out, and stay tuned for more upcoming dApps.
Meet the Grand Winners of the Venom Hackathon
ICYMI, our inaugural virtual hackathon concluded on a high last June. Much to our surprise, we received a substantial volume of submissions, with 812 participating hackers and 481 submissions in total. On top of that, we received countless promising submissions, prompting our judges to increase the number of honorable mentions.
Recently, we interviewed the winners of each category to learn more about their project and their Web3 journey. We know that hackathons can be intimidating, but we hope that these stories can inspire you. Check out the interview by BioVenomSDK, Unb@nk, and Qupe Protocol.
That’s all the updates we have for July. Cheers to our third month, and onward to the fourth — more exciting plans await!
To learn more about Venom, check out the following links:
Website: https://venom.foundation/
Testnet: https://venom.network/
Whitepaper: https://venom.foundation/Venom_Whitepaper.pdf
Documentation: https://docs.venom.foundation/
Medium: https://medium.com/@venom.foundation
Twitter: https://twitter.com/venomfoundation
