As of July 25, Venom Foundation, a blockchain technology pioneer in regulated markets, had recorded over one million registered wallets. The monumental achievement occurred quickly since Venom’s testnet launched on April 26. Venom’s innovative blockchain solutions are gaining prominence and setting a new standard.
Venom’s quick success is attributed to its unique technology, strict regulatory compliance, and secure, user-friendly environment for varied users. Smooth operations and regular updates on the Venom testnet help attract and maintain users.
Just in June:
- Venom recorded an astounding 277 million transactions, a significant increase of 46% from the previous month.
- The platform saw a 65% surge in the number of accounts with smart contracts, which now stand at 28 million.
- The recent growth also includes a remarkable 93% rise in minted NFTs as part of on-chain/social tasks, reaching 5.8 million.
Venom’s exponential growth is driven by its ambition to mainstream blockchain technology while complying with regulations. The company leads research and development, transparency, and strategic collaborations.
The Abu Dhabi Global Market (ADGM) granted the Venom Foundation the first blockchain license, demonstrating its compliance with international laws and governance norms.
Christopher Louis Tsu, acting CTO and CEO of Venom Foundation, commented:
“Frankly speaking, it took me completely by surprise. We had 250,000 users in the first six days. Can you imagine opening a new shop in town, drawing the curtains back and seeing quarter of a million people lined up outside your door”
The milestone of one million registered wallets and its rapid growth demonstrates public trust in Venom and the potential of blockchain to create a transparent, secure, and efficient alternative to traditional financial systems.
