About Venom Blockchain (VENOM)
Venom Blockchain supports scalable Web3 applications across DeFi and Global Payments landscapes. As per the project, it introduces a transactional scalability solution complemented by economic scalability. This way the project is catering to the evolving needs of the digital world.
Venom Blockchain is designed as a heterogeneous multi-blockchain platform. Its technology includes a layer-0 masterchain, dynamic sharding, and a Turing-complete virtual machine:
The masterchain is responsible for coordinating network entities such as sidechains and shardchains.
The virtual machine is in charge of executing smart contracts, which supports validator selection and slashing.
Through dynamic sharding the project is enhancing security, and providing scalability as shardchains can potentially enable the creation of unlimited sidechains.
The architecture of the project supports asynchronous smart contract communication and scalable distributed computing. Block production is decentralized, adding security to the project. As a result, transaction speeds on the Venom Blockchain are high, and costs are reduced.
Venom Blockchain supports a range of applications, including DeFi products, GameFi projects, NFT marketplaces, decentralized exchanges, and fiat-backed stablecoins/CBDC initiatives. Its ecosystem includes tools like Venom Wallet, Venom Scan, Venom Stake, Venom Bridge, and an accessible platform for developers and users alike.
The VENOM token is used for payments, transaction fees, and participating in governance within the Venom Blockchain ecosystem. The live price of Venom Blockchain (VENOM) is updated and available in real time on Binance.
