Abu Dhabi, known for its oil wealth, has made a significant leap into the world of blockchain technology with the development of the Venom Blockchain. This blockchain is designed specifically for Web3 applications and has recently been launched globally.
High-Performance and Low Fees
Venom Blockchain stands out with its Layer 0 (L0) infrastructure, which can handle an impressive 100,000 transactions per second while keeping the average transaction fee at a low $0.0002.
Rapid Growth and Investor Confidence
Since its launch, Venom Blockchain has seen remarkable growth. Its market capitalization has surpassed $5.2 billion, and its trading volume has exceeded $200 million, reflecting the confidence investors have in the project.
Growing User Base and Project Pipeline
Within 24 hours of its launch, Venom attracted over a million users, demonstrating its appeal to developers and investors looking to leverage its infrastructure for Web3 development. Over 20 projects are already in the pipeline for deployment on the Venom Blockchain.
Abu Dhabi: A Hub for Tech Innovation
Abu Dhabi is emerging as a major center for fintech innovation, with projects like Venom leading the charge towards decentralization. This challenges the notion that innovation is only possible in established tech hubs.
Venom’s Impact on Technology
Venom’s scalable and secure architecture, combined with its rapidly growing user base, is not only making its mark in the global tech landscape but also redefining how technology can be used to improve governance and economic operations.
Current Market Value
As of the latest update, the native token of the project, VENOM, is trading at $0.6788. It has experienced a surge of over 27% in the past 24 hours and a steady increase of 3% in the last hour.
