Venom Foundation’s cryptocurrency surged following a successful closed-network test, showcasing impressive throughput capabilities.
Venom, a scalable blockchain, has claimed it can outperform Solana in transaction processing. On May 23, Venom Foundation announced that its closed-network beta test achieved an astonishing 150,000 transactions per second (TPS), surpassing Solana’s theoretical maximum of 65,000 TPS.
This significant achievement marks a crucial advancement for Venom ahead of its anticipated mainnet launch scheduled for the third quarter of 2025. With these results, Venom is positioned to become one of the leading blockchains in terms of throughput.
For comparison, Solana promotes a maximum TPS of 64,000, and Visa handles approximately 24,000 TPS. Post-test, Venom’s token experienced a 2% increase, reaching a daily high of $0.1031.
Venom Foundation Readies for Enterprise Applications
The Venom Foundation emphasized that the purpose of this stress test was to prepare the blockchain for enterprise applications in decentralized finance (DeFi). This includes solutions for payment providers, cryptocurrency exchanges, and gaming platforms, which all require a robust and scalable blockchain capable of withstanding network demands.
“Throughput only matters if it can remain reliable under pressure,” stated the Chief Executive Officer of Venom. “Our technology can support enterprise-scale workloads without inflating fees or sacrificing decentralization, which is vital for payment providers, exchanges, and game developers.”
Venom utilizes directed acyclic graph technology, diverging from conventional blockchains that process transactions sequentially. This innovative approach allows for parallel transaction confirmations, provided there are no conflicts.
Located in Abu Dhabi and registered in the Cayman Islands, Venom Foundation is a non-profit organization dedicated to developing its layer-1 blockchain, focusing on scalable solutions for DeFi applications.
