Venom introduces public testnet of various dApps for its licensed blockchain

Venom, a Layer-0 blockchain platform based on the Abu Dhabi Global Market, has announced the official launch of its public testnet after years of development. It marks a significant milestone in Venom’s roadmap as it nears its main network launch. In addition to the testnet release, Venom has unveiled a suite of decentralized applications (dApps) developed in-house.

A brief explanation of Venom’s test net

The design of the test net is aimed at both developers and ecosystem users. It enables the former to test and debug dApps and blockchain protocols, while the latter can experience dApps firsthand. The program aims to encourage innovation and community building within the ecosystem.

The testnet is available to developers and users via two simple steps. Download Venom Wallet on mobile via the Apple App Store or Google Play Store, or on desktop as a Google Chrome extension. Then, users can start their journey of testing the Venom ecosystem by claiming a free trial network allocation.

Peter Knez, chair of the Venom Foundation Council, stated:

“We are excited to announce the launch of Venom’s public testnet, a crucial step towards our upcoming mainnet launch. With our highly scalable and reliable asynchronous blockchain, we are confident that developers will be able to build innovative dApps, while users will be able to experience them first hand.”

Developers can build on the asynchronous Venom blockchain, which boasts ultra-fast speeds of 100k TPS. It also has a dynamic slicing feature that improves scalability and network reliability. To help developers, Venom has put together an archive of developer documentation that equips them with the necessary tools and knowledge to start building.

A building block for an interoperable blockchain ecosystem

Venom’s network facilitates interoperability, making it a viable tool for developers. In addition, the low transaction fees make it user-friendly for global adoption. Several dApps are set to debut on the Venom testnet, and users can test them by performing transactions, experimenting with NFTs, etc.

Venom’s public testnet is an important step towards the upcoming mainnet launch. The platform’s unique features, such as its asynchronous blockchain and dynamic sharding, enable developers to build innovative dApps, while users can experience them firsthand.

As a Layer-0 blockchain, Venom operates within the ADGM, which provides a favorable environment for investors and financial services firms. This favorable jurisdiction establishes Venom as the first ever compliant blockchain, allowing regulators and businesses to build, innovate and scale their operations safely.

Also, various companies have developed a number of internal dApps and protocols on the Venom blockchain. With its dynamic severance function, low fees, ultra-fast speeds and remarkable scalability, Venom can emerge as a key enabler for the adoption of Central Bank Digital Currencies (CBDCs) in the Middle East, North Africa and beyond.