This is evident from a recent press release Poison has registered more than a million wallets just three months after testnet launched.
Over 1 million wallets registered on Venom
After the launch of the Venom testnet on April 26 there was a noticeable increase in growth. Specifically, registered wallets connected to the mainnet crossed the 1 million mark in July.
According to the project, this almost exponential growth can be attributed to their core technology, strict regulatory compliance and a safe and user-friendly environment. Combined, these features have attracted a variety of users, including experts and newcomers.
In June, Venom’s growth was visible in several areas. For example, the blockchain processed more than 277 million transactions, an increase of 46% compared to May. At the same time, the number of accounts deploying smart contracts increased by 65% to 28 million.
Additionally, the team noted that due to Venom’s focus on research, development and strategic partnerships, the number of non-fungible tokens (NFTs) minted for on-chain or social tasks increased by 93% to 5.8 million.
Commenting on this development, Christopher Louis Tsu, Acting CTO and CEO of Venom Foundation, said:
“To be honest, it completely surprised me. In the first six days we had 250,000 users. Can you imagine opening a new store in the city, pulling back the curtains and seeing a quarter of a million people queuing outside your door?
The Venom Foundation’s mission to massively adopt blockchain while adhering to strict regulatory standards has been cited as a driving force behind its growth.
This is coupled with Venom being the first to obtain a license granted by the Abu Dhabi Global Market (ADGM) as approval to run a blockchain.
Improve performance for growth
The performance within a short period could indicate growing trust between crypto and Venom project participants. It also recognizes the project’s vision to create an efficient alternative to traditional financial systems.
The Venom Foundation provides scalable blockchain solutions for real-world applications using distributed ledger technology (DLT). Through performance and security, Venom focuses on empowering governments, businesses and consumers, allowing them to operate seamlessly and unlock enhanced transaction capabilities.
While Venom has made impressive progress, the project admits that continued work is needed to address future challenges and solidify its position as a pioneer within the crypto space.
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