Venom Foundation’s Crypto Soars After Impressive Test Results
The Venom Foundation’s cryptocurrency experienced a boost following a successful closed-network test. The test showcased the blockchain’s impressive transaction capacity.
On May 23, the venom Foundation announced that their network could process 150,000 transactions per second (TPS). This is substantially higher than Solana’s theoretical limit of 65,000 TPS. The announcement highlighted Venom’s potential as a high-throughput blockchain.
This milestone is crucial for Venom’s mainnet launch in Q3 2025. the foundation aims to position Venom as one of the most efficient blockchains.
Key points from the test include:
- One of the most efficient blockchains
- Ready for enterprise use cases in DeFi
Following the test, Venom’s token price increased by 2%, reaching $0.1031.The test ensures the blockchain can handle enterprise-scale workloads without compromising fees or decentralization.
Christopher Louis, CEO of Venom, explained, “Our technology can manage high transaction volumes reliably.This is vital for payment providers,exchanges,and game studios.”
Venom uses directed acyclic graph technology, allowing parallel transaction confirmations. This sets it apart from traditional blockchains, which process transactions sequentially. Venom’s focus is on building a scalable layer-1 blockchain for defi applications. The foundation, based in Abu dhabi and registered in the Cayman Islands, supports the development of its blockchain for DeFi use cases.
