Venom Wallet

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Venom Wallet

Over 1 million wallets registered on Venom

Following the launch of the Venom testnet on April 26, there has been a noticeable surge in growth. Specifically, registered wallets connected to the mainnet exceeded the 1 million mark in July.

This near-exponential growth, the project says, can be attributed to their base technology, strict regulatory compliance, and secure and user-friendly environment. Combined, these features have been attracting diverse users, including experts and newbies.

In June, Venom’s growth was evident in multiple planes. For instance, the blockchain processed over 277 million transactions, a 46% increase from May. At the same time, the number of accounts deploying smart contracts rose by 65% to 28 million.

Enhancing performance for growth

The achievements 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 finance systems.

The Venom Foundation provides scalable blockchain solutions for real-world applications using distributed ledger technology (DLT). Through performance and security, Venom is focused on empowering governments, businesses, and consumers, allowing them to operate seamlessly and unlocking enhanced transactional capabilities.

While Venom has made impressive progress, the project admits that continuous work is required to tackle future challenges and solidify the position of a pioneer within the crypto space.