The review of Venom Project, main description on investments and structure
About project:
Venom is a scalable blockchain solution that is designed to meet the needs of real-world applications. Its unique architecture and technology enable Venom to provide a high level of performance and security, making it an ideal platform for decentralised applications. The Venom blockchain utilizes a Proof of Stake (PoS) consensus mechanism with The Byzantine fault-tolerant (BFT) algorithm to reach a consensus agreement between validators. This approach ensures network security and provides Sybil resistance. It was held by the partnership between Venom foundation and Iceberg capital and registered in Abu Dhabi (AE) as Venom Venture Funds.
Investments:
By the cooperation of 2 company project raised 1Billion US dollar investments. This budget will be distributed/ managed for the technical and social evolution of blockchain. Currently the team provides an opportunity for users to take part in Testnet stage and check out their products.
Products of Venom Ecosystem:
Currently, there are 6 products that are being developed by Venom and which every user can taste:
- Venom Wallet
- Venom Scan
- Venom Pools
- Venom Bridge
- Web3.World
- Oasis gallery
Technical aspect:
Venom Blockchain is built on the Threaded Virtual Machine (TVM). TVM provides a highly efficient and scalable way to handle account interactions in the Venom Blockchain. By utilizing the Actor model, TVM can isolate and parallelize actors, allowing for the efficient handling of complex distributed systems. This makes the dynamic sharding protocol further groups account into shards, improving efficiency and enabling contracts to execute in an asynchronous mode. In addition, by the usage of T-SOL language, project is able to create complex smart contracts that interact with other Venom blockchain accounts.
T-Sol is the developer-friendly language offering infinite potential and ease of use. Due to the fact that T-Sol is derived from Solidity, developers with existing experience in C, C++, Javascript, and C# can indeep in a frictionless onboarding due to syntax similarity.
In addition, Venom developers team is commonly use a “Locklift” framework, that contribute to help users with Venom contract development.
Usable branches for Venom products:
Despite testing stage for the project, the team already emphasised several priority streams, where Venom will integrate and bring its technologies:
- DAO
- SocialFI
- DeFI
- CBDC
- Decentralised Identity (DID)
- GameFi
- TradeFi
Hackathon program:
Hackathon program is the opportunity for team/individuals who are specialists in web-developing sphere. During the program you will be obliged to pass onboarding and start solving different IT tasks, provided by Venom team. The prise pool for event is 225 000 USD. The participation is absolutely free. You just need to register on website and pass all steps. More information you can read there
Conclusion:
Venom Ecosystem is fresh, mega potential project that got a huge investments for the development. With 1B$ pool, final mainnet products seem to be high quality and unique on the market. In addition, team is constantly integrate with target Crypto users by providing Testnet opportunities and bounty events like “Hackathon” with possible rewards for contributors. So, in case if you have doubts try the product or not, my advise is definitely to try. Make an activities and support the team
Thank you for attention and stay tuned
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