Prix Venom 

VENOM

Venom Foundation is a collective of individuals and projects focused on providing funding for the continued development of the Venom network and its broader ecosystem. The foundation's mission is to build a blockchain that serves as the main infrastructure for a global ecosystem of Web3 applications, characterized by ultra-fast transaction speeds and infinite scalability.

Based in the Cayman Islands, Venom Foundation includes prominent figures in the financial and technological sectors. Utilizing the unique technological capabilities of the Venom network, the foundation is laying the groundwork for the network's role as a host for governmental and global financial platforms.

Venom network serves to improve three main DeFi paradigms:

Facilitate decentralization. Rather than being managed by a single entity, blockchain distribute control over the network equally to all participants. Venom facilitates decentralization by setting up a low cost for a validator note.

Prove high security. Blockchain network should have ironclad defenses that prevent malicious entities from taking over. Venom proves high security by minimal transaction fees and electro-mechanics for validator slashing.

Present unlimited scalability. Blockchain should support a huge number of transactions and users without failures due to increased fees and transaction time. With the use of dynamic segmentation and an unlimited number of subchains, Venom can provide unlimited scalability.

In 2018, a vision took shape when Christopher Louis Tsu and Dr. Kai-Uwe Steck began exploring the uncharted potential of blockchain technology. Their explorations marked the inception of what would later become the Venom Foundation. The journey took a pivotal turn when they engaged with an investment group from the United Arab Emirates, who sought to establish a next-generation blockchain capable of scaling to any workload.

Through years of deliberation, the foundation of the Venom network crystallized. By 2022, Tsu, Steck, and their core team had formed, setting the stage for a revolutionary blockchain network. The closed testnet was deployed in April 2022, and by April 2023, it was opened to the public. In March 2024, Venom launched its mainnet, subsequently listing on several top exchanges. The launch of the mainnet, following a period of rigorous testing, was remarkably smooth, showcasing the meticulous quality management of Venom's core development team. At the core of the project is a blockchain designed for limitless scalability, low gas fees, and rapid transaction speeds, attracting a host of skilled developers to contribute to the ecosystem.

As part of its strategic growth, Venom Foundation relocated its headquarters from the Abu Dhabi Global Market to the Cayman Islands, establishing related entities in the British Virgin Islands. This move enhanced the foundation’s operational agility and effectiveness in the evolving global digital asset landscape. The relocation positioned Venom to be more responsive and innovative in addressing the changing needs of the digital asset sector.

Venom, now a Layer 0 and Layer 1 network, has established itself as a highly scalable host for Web3 applications in DeFi and global payments. The network’s architecture is a heterogeneous multi-blockchain system powered by dynamic sharding and Mesh technology. The Venom Foundation’s main objective is to cultivate a self-sustaining blockchain ecosystem, which has already borne fruit through platforms like VenomWallet, VenomScan, VenomGet, VenomBridge, VenomPools, and Web3.World.

Looking forward, Venom Foundation offers a wide range of blockchain solutions for individual developers, companies, and government authorities. These include fiat-backed stablecoins, CBDC initiatives, real-world asset projects, decentralized exchanges, bridges, NFT marketplaces, derivative exchanges, GameFi projects, and launchpads, among others. The foundation’s vision is to facilitate the creation of groundbreaking products with the potential for global adoption, staying at the forefront of blockchain innovation.

In sum, the evolution of the Venom Foundation is a testament to Tsu and Steck's pioneering vision and the relentless efforts of their team to create a cutting-edge blockchain ecosystem, uniquely positioned for the future of digital assets.