What is asynchronous blockchain technology?

Each blockchain has its own way of communicating. At Venom, we use an asynchronous architecture, meaning we process multiple transactions independently. Because of this, Venom’s technology is virtually unrivaled in its field.

Asynchronous blockchain technology deviates from the order of transactions, which is why Venom promotes high scalability. Real-time processing and handling of large volumes of transactions. Venom has almost little trouble achieving these technical requirements.

When the network experiences a heavy load of transactions, validators split into groups to process transactions simultaneously, known as a “split event.”

General advantages of an asynchronous blockchain:

• Increased scalability: One of the critical benefits of asynchronous blockchain technology is its ability to scale to high transaction volumes. This is made possible through dynamic sharding, which allows a blockchain to process transactions in parallel and significantly increase its overall throughput.
• Faster transaction processing: Asynchronous blockchain technology enables transactions to be processed independently from each other rather than in sequential order. This means that transactions can be processed significantly faster, making it well-suited for applications that require real-time processing.
• Lower costs: Asynchronous blockchain technology allows a blockchain to process transactions in parallel rather than sequentially. This means that less processing power is required to handle a given number of transactions, which can result in lower costs for businesses and organizations. Users don’t need to pay additional gas fees for transactions to be at the front of the pool, as is done in the outdated queue approach like BTC and ETH.

What does this mean for Venom specifically?

Communication between smart contracts occurs using a method that an EVM-based network could never act on. In Venom’s paradigm, each account/smart contract can affect the state of another only by sending a message, which will result in a transaction after execution. Such interaction takes time, as any call creates an outbound message to a called smart contract, and there is a delay before its executed in a current block or one of the next ones.

The order of execution of the outbound messages queue is guaranteed. However, neither the inbound messages queue in the externally called contract nor the contract state can be predicted.

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