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Venom Blockchain Price

(VENOM)

USD($)

$0.0015
-72.89%(1 day)

Venom Blockchain (VENOM) Live Price Chart

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    Venom Blockchain(VENOM) Profile

    altRank349
    rate--
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    $0.001256
    $0.006191
    ATH
    $0.7944
    Price Change (1h)
    -0.13%
    Price Change (24h)
    -72.89%
    Price Change (7d)
    -87.79%
    Market Cap
    24h Volume
    Circulating Supply
    988,919,270
    Max Supply
    8B

    About Venom Blockchain

    • What Is Venom (VENOM) Crypto?

      Venom (VENOM) is a cutting-edge Layer 0 blockchain platform designed to redefine the Web3 ecosystem through its advanced architecture. It utilizes dynamic sharding to achieve transaction speeds exceeding 100,000 per second, maintaining very low average transaction costs below $0.0002. This positions Venom as a leader in providing scalable, secure, and cost-efficient blockchain solutions, especially notable for its commitment to sustainability via a zero-emission policy​.

      Venom distinguishes itself with a modular architecture that includes a masterchain, workchains, and shard chains, operating independently to eliminate bottlenecks commonly found in monolithic blockchains. This structure allows for transactions to bypass a single consensus mechanism, facilitating limitless data sizes per transaction.

      Venom's design aims for widespread blockchain adoption in regulated markets by offering a transparent, secure, and efficient alternative to traditional financial systems. A key feature of Venom's popularity stems from its substantial airdrop campaign, which attracted many users to its testnet in anticipation of gaining shares of the assets​.

      At the heart of Venom's technology is the Threaded Virtual Machine (TVM), which efficiently handles account interactions through the Actor model. This model allows for the isolation and parallelization of actors, enhancing the system's ability to manage complex distributed systems. Venom’s approach to account abstraction through smart contracts offers developers greater flexibility in their dApp designs, promoting a more versatile and modular architecture​.

      Although in its early stages, Venom's ecosystem already comprises various applications and services designed to provide a comprehensive blockchain experience. This includes a non-custodial Venom Wallet, VenomStake for secure token staking, VenomBridge for interchain transactions, and a native DEX called Web3World. Each component is designed to integrate seamlessly, providing users with a robust set of tools despite the network's recent launch.

    • How Does Venom Blockchain Work?

      Venom operates as a Layer 0 blockchain utilizing a dynamic sharding mechanism to achieve scalability and high transaction speeds. Its architecture is designed to support a wide range of applications and services, fostering an efficient and scalable blockchain ecosystem. Here's a breakdown of how Venom works:

      Masterchain, Workchains, and Shard Chains

      Venom's infrastructure includes a masterchain, workchains, and shard chains, each serving specific functions within the ecosystem. The masterchain coordinates the entire network, including routing messages and maintaining configurations. Workchains are specialized Layer-1 blockchains with their virtual machines, native cryptocurrencies, and state transition functions tailored for different applications. Shard chains are subsets of the blockchain that process transactions, enhancing the network's capacity and speed​.

      Dynamic Sharding

      Dynamic sharding is a pivotal feature of Venom, allowing the network to adjust shard sizes and numbers based on current demands and ensuring efficient processing. This flexibility helps the network handle varying transaction volumes by creating or merging shard chains as needed, promoting effective resource utilization, and maintaining high performance​.

      Threaded Virtual Machine (TVM)

      At the core of Venom's blockchain is the Threaded Virtual Machine (TVM), which enables the efficient handling of account interactions. Utilizing the Actor model, TVM isolates and parallelizes actors, facilitating the management of complex distributed systems. This approach allows for asynchronous contract execution and enhances the scalability and efficiency of the blockchain​.

      Account Abstraction and External Messaging

      Venom employs account abstraction through smart contracts, offering developers greater flexibility in designing dApps. External messaging is another feature, bridging the gap between off-chain and on-chain systems and enabling the blockchain to interact seamlessly with the external world. This supports off-chain data provision within the Venom ecosystem​.

      Venom Ecosystem and Applications

      Venom's ecosystem includes a variety of applications and services, such as the Venom Wallet, VenomStake for token staking, VenomBridge for interchain transactions, Web3World for decentralized exchange activities, and Oasis Gallery for NFT trading. These components are designed to offer users a comprehensive blockchain experience despite the network's relatively recent launch​.

      Transaction Execution Process

      Venom's transaction execution involves submitting transactions to shard chains, where they are validated and added to blocks. These blocks are then sent to the masterchain for validation and incorporation into the blockchain, with transactions finally executed on workchains. This process, supported by Venom's dynamic sharding protocol, ensures efficient transaction handling and scalability​.

    • History of Venom Foundation and VENOM Coin

      Venom is spearheaded by Christopher Louis Tsu, a seasoned entrepreneur with extensive experience across multiple industries. Registered within the Abu Dhabi Global Market (ADGM) on October 6, 2022, the Venom Foundation aims to pioneer blockchain innovation, focusing on developing a comprehensive ecosystem supported by initiatives like VenomWallet and VenomScan​.

      Venom (VENOM) officially launched its mainnet on March 18, 2024, marking a significant milestone in its development and the start of a new era for its platform and community. This launch followed the establishment of a new foundation for Venom in the Cayman Islands, a move aimed at leveraging the progressive regulatory frameworks of the Cayman Islands and the British Virgin Islands (BVI) to offer secure, reliable, and cutting-edge cryptocurrency services​.

      Prior to its mainnet launch, Venom had its public testnet go live, which was announced on April 25, 2023. This testnet phase was crucial for both developers and users, allowing for the testing and debugging of dApps and blockchain protocols and enabling users to experience these applications firsthand. The Venom testnet was designed to foster innovation and community building within the ecosystem.

      As for the founders or the leading figures behind Venom, one notable name mentioned is Peter Knez, the Chair of the Venom Foundation Council. Knez has been quoted expressing enthusiasm for the testnet launch and the foundation's aspirations for the blockchain's development, including the goal of achieving highly scalable and reliable asynchronous blockchain functionality.

    • What Is VENOM Token Used for?

      The Venom (VENOM) token plays a crucial role within the Venom blockchain ecosystem, serving multiple key functions:

      1. Pay Transaction Fees on Venom Network

      Venom tokens are used to pay for transaction fees on the network. This is a common utility for native tokens on blockchain networks, facilitating the process of transactions and operations within the ecosystem​.

      2. VENOM Staking and Network Security

      VENOM secures the network through Proof of Stake (PoS) mechanisms. Users can stake their tokens to participate in network validation processes. Staking not only helps secure the network but also allows stakers to earn rewards for their participation​.

      3. Decentralized Governance of Venom Blockchain

      Holding VENOM tokens can grant users governance rights, enabling them to participate in decisions regarding the future development of the Venom blockchain, including protocol upgrades and changes. This decentralized governance model empowers token holders by giving them a voice in the ecosystem's evolution​).

      4. Supporting Venom Blockchain Validators

      The Venom ecosystem allows network participants to support validators through DePools staking. This collaborative effort enhances the stability and security of the blockchain, ensuring that it remains resilient and efficient​.

      5. Wrapped Venom (WVENOM)

      To facilitate ease of use within DeFi protocols on the Venom network, VENOM can be wrapped as WVENOM, a TIP-3 standard token. This process is typically handled by the protocols themselves and simplifies transactions, such as swaps on decentralized exchanges (DEXs), by integrating VENOM more seamlessly into the DeFi ecosystem​.

      6. Trade VENOM on KuCoin

      Trade Venom token against other crypto assets on the KuCoin Spot Market to make the most of changing market conditions. Buy or sell $VENOM or HODL if you believe in the long-term potential of the Venom ecosystem. Remember to do your own research (DYOR) before trading in the crypto market.

    FAQ

    Is Venom (VENOM) a Good Investment?

    Investing in Venom (VENOM) offers several advantages that stem from the blockchain's innovative architecture, regulatory compliance, and potential for widespread adoption across various industries.

    1. Scalability and Performance

    Venom addresses the blockchain trilemma of achieving scalability without compromising security or decentralization. With features like dynamic sharding and asynchronous architecture, Venom can process over 100,000 transactions per second with a potential scalability of up to 1 million transactions per second. This high throughput and low transaction cost ($0.0002 on average) ensure the network can handle high volumes efficiently and cost-effectively​.

    2. Regulatory Compliance

    Venom is licensed to operate by the Abu Dhabi Global Market (ADGM), ensuring compliance with international law and regulations. This regulatory compliance makes Venom an attractive platform for financial services firms, potentially facilitating the adoption of central bank digital currencies (CBDCs) in the Middle East, North Africa, and globally. This compliance aspect is crucial for mass adoption and provides a secure environment for retail customers and institutional participants​.

    3. Robust Venom Ecosystem

    The Venom ecosystem is designed to enhance user experiences through a suite of tools and services, including a non-custodial wallet, a DEX, a bridge for cross-chain swaps, and more. These services not only cater to the needs of various users but also attract developers to build on Venom, contributing to the network's growth and innovation​.

    4. Strong Partnerships and Community Support

    Venom has established key partnerships and is backed by a team known for its expertise across various industries. The self-funded nature of the Venom Foundation minimizes external pressures and aligns with its vision to promote blockchain adoption. The foundation's approach to building trust and facilitating organic growth within its ecosystem further enhances its appeal to investors looking for platforms with a solid foundation and future growth potential​.

    5. Diverse Use Cases

    Beyond just supporting popular blockchain applications, Venom's scalability and flexible architecture make it suited for a wide range of applications, including decentralized finance (DeFi), digital asset management, governance, and more. The network's ability to cater to high-demand sectors while maintaining low fees and high transaction speeds presents numerous opportunities for innovation and application development​.

    What Is Venom Crypto Price Prediction?

    Although the volatile nature of the crypto market makes it challenging to offer a reliable VENOM price prediction, you could monitor the following factors to understand the price changes in Venom cryptocurrency better:

    1. Crypto Market Sentiment

    The overall sentiment of the crypto market, including investors' confidence and perception towards Venom, plays a significant role in influencing the VENOM to USD price. Tools like the Fear & Greed Index can provide insights into the current market sentiment, influencing buying or selling decisions​.

    2. Technical Indicators and Price Trends

    Technical analysis, including the examination of support and resistance levels, moving averages, and other technical indicators, can influence trading strategies and, consequently, the Venom token price​.

    3. Correlation with Other Cryptocurrencies

    The Venom crypto price may also be correlated with the prices of other major cryptocurrencies. A positive correlation means the $VENOM price could move in the same direction as these cryptocurrencies, while a negative correlation could mean the opposite​.

    4. Adoption and Use Cases for Venom Blockchain

    The extent to which Venom's blockchain is adopted for real-world applications, including DeFi, global payments, and support for CBDCs, can significantly impact the VENOM coin price. Greater adoption and the development of decentralized applications on the Venom blockchain could drive demand for the VENOM token​.

    5. Network Performance and Scalability

    The technological capabilities of the Venom blockchain, such as its high transaction throughput, low fees, and scalable architecture, could make it an attractive platform for developers and users. This, in turn, could lead to increased demand for the VENOM token as the network grows and evolves​.

    6. Economic Factors and Global Events

    Broader economic factors and global events can also affect the price of cryptocurrencies, including Venom. Market dynamics such as inflation rates, interest rates, and geopolitical tensions can influence investor behavior and impact the crypto market.

    How to Stake VENOM on Venom Network

    To stake VENOM on the Venom Network, you can follow these steps:

    1. Buy VENOM on KuCoin and transfer your tokens to a compatible crypto wallet.

    2. Visit Venompools.com to see a list of validators.

    3. Log into your wallet with VENOM tokens.

    4. Choose a validator based on their performance indicators like name, fee, APY, TVL, and capacity.

    5. Click "Manage" next to your chosen validator, enter the amount you wish to stake, and confirm the transaction in your Venom Wallet.

    Note: Stakes will be activated in the next round if your validator is elected.

    What is the all-time high price of Venom Blockchain (VENOM)?

    The all-time high price of Venom Blockchain (VENOM) is $0.7944. The current price of VENOM is down 99.81% from its all-time high.

    What is the all-time low price of Venom Blockchain (VENOM)?

    The all-time low price of Venom Blockchain (VENOM) is $0.001498. The current price of VENOM is up 0.11% from its all-time low.

    How much Venom Blockchain (VENOM) is there in circulation?

    As of October 16, 2026, there is currently 988,919,270 VENOM in circulation. VENOM has a maximum supply of 8B.

    How do I store Venom Blockchain (VENOM)?

    You can securely store your Venom Blockchain in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your VENOM include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.