The current price of Venom is $0.11599. Over the last 24 hours, Venom has decreased by -4.09%. It currently has a circulating supply of 2,045,631,335 VENOM and a maximum supply of 8,000,000,000 VENOM, giving it a fully diluted market cap of $237.35M. At present, the Venom coin holds the 0 position in market cap rankings. The Venom/USD price is updated in real-time.
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Venom is a layer-0 asynchronous blockchain with a unique Mesh network architecture and dynamic sharding algorithm for scalability and efficiency with a focus on blockchain adoption through government initiatives such as Stable coins around the world, CBDCs, RWAs (such as carbon credits), payments & trade finance.
The Venom blockchain's innovative features balance the traditional financial system and the decentralised world of cryptocurrency, incorporating unique features such as account abstraction, invisible gas fees, and cross-chain communication to provide a more secure, transparent, and efficient way for financial services.
How does Venom work
Venom is a layer-0 non-EVM blockchain with dynamic sharding algorithm and Mesh Technology. It provides developers with a Threaded Virtual Machine (TVM) for asynchronous smart-contacts and a T-SOL, a Solidity-like programming language, allowing blockchain network throughput of 100,000+ TPS for building highly scalable Web3 applications. Venom utilises its revolutionary Mesh technology which enhances blockchain interoperability by setting communication standards for TVM-compatible networks, ensuring faster transaction speeds, robust decentralization, and reliable message delivery for cross-chain transactions.
Venom price and tokenomics
The VENOM token is intended to perform several key functions in the network, including:
Gas fee/Incentivising validators:
The VENOM token rewards validators who contribute to maintaining the network's integrity. Validators receive a reward in VENOMs for each block they produce, encouraging them to act honestly and consistently. The block reward consists of an independent, configurable reward for each block and the transactions' fees collected per block.
Protecting against Sibyl attacks:
The network uses a Proof-of-Stake (PoS) mechanism to safeguard against Sibyl attacks. Participants must stake their tokens to become validators, and the number of validators a participant can create is limited by the number of tokens they hold.
Delegated staking:
Participants in the network can delegate their tokens to other participants who want to become validators. By delegating tokens, the community can effectively control the list of validators and ensure that the network remains decentralised. This helps to prevent a small group of validators from having too much control over the network and potentially engaging in malicious behaviour.
Governance:
The network will introduce governance mechanisms, allowing participants to propose and vote for proposals using the VENOM token. This will help to decentralise decision-making and give control to the community.
About the founder
Christopher Louis Tsu is a renowned Executive and entrepreneur with 37 years of experience. He is with Venom Foundation from October 2022 first joining as a CTO to drive the architectural development of the protocol and currently drives Venom Foundation forward as CEO.
Venom highlights
Venom Testnet Launch (April 25, 2023)
Venom Hackathon (May 8 - June 10, 2023): Venom partners with DoraHacks to host Venom Hackathon, featuring an impressive $225,000 prize pool, igniting innovation and creativity in the blockchain community.
Venom Foundation has announced a strategic partnership with the Government of Kenya to establish a “blockchain hub” in Africa (May, 2023), focusing on the development of Web3 and blockchain technology applications.
Venom and UAE Government (August, 2023): A memorandum of understanding (MOU) between Venom Foundation and the UAE Ministry of Climate Change and Environment has been signed, paving the way for the development of a National Carbon Credit System, driving sustainability through blockchain solutions.
Strategic partnership with Alpha MBM Investments Group (March, 2024): A strategic investment by Alpha MBM Investments Group, the private investment office of His Highness Sheikh Mohammed bin Maktoum bin Juma Al Maktoum, a member of the Dubai Royal Family, in Venom Foundation fuels digital currency adoption across Africa and marks a new era of financial inclusion on the continent.
Partnership with MNG Airlines (March, 2024): MNG Airlines announced collaboration with Venom Foundation for revolutionizing aviation logistics in Turkey's air cargo market through the integration of blockchain technology.
Venom Blockchain Testnet Recap:
- Over 2.9 million wallets created;
- More than 90,000 daily active wallets; - Over 35 million NFTs minted;
- 986 million testnet transactions.
VENOM FAQs
What is Venom (VENOM)?
Venom is a Layer-0 blockchain building a sustainable and scalable infrastructure for corporate, government and Web3 applications by providing independent economies on mesh-network architecture.
What are the key features of Venom blockchain technology?
Venom Blockchain technology is made to facilitate micropayments, which is of uttermost importance to our target group, the unbanked population in developing nations, which naturally have relatively lower disposable incomes.
CBDC and Fiat-backed stablecoins
Asset Tokenization
Trade Finance
Proof of Reserve (PoR) mechanisms
Microtransactions
Decentralised Identity
Technological innovations:
Architecture
Venom’s Layer-0 architecture is designed as a heterogeneous multi-blockchain platform with dynamic sharding. Venom addresses the horizontal scalability issue with masterchain/workchain architecture. The masterchain contains block proofs from workchains, while the workchains either represent an additional blockchain with its own VM and currency or inherit the components of workchain 0.
Mesh technology
Mesh technology allows connecting TVM-compatible networks on the protocol level. The interchain relations mechanism provides a free flow of value and messages across several networks to ensure easy leverage of web3 applications deployed in different networks by smart contracts from each connected TVM-compatible network.
Dynamic sharding
The Venom network will start with just one shardchain, which covers all smart contract addresses of the workchain. Validators from the global validators set produce blocks for this shardchain.
Handling network fees
Venom has separate fees for storage consumption, processing, and messaging between accounts, which makes gas prices on the network more stable and predictable and allows for the future-proofing and self-purging of unused data and smart contracts.
Smart contracts execution
The Venom TVM allows for sharing tasks between groups of validators depending on LOD, thus ensuring concurrent execution. That’s why by design, all interactions between system actors
(accounts, smart contracts) in Venom are asynchronous. Everything inside TVM is a smart contract. A clear example of this can be seen with wallets. In EVM, a wallet is an address that shows a balance, and in TVM, a wallet is always a smart contract.
Consensus
Venom has developed its own consensus protocol called Threaded BFT.
The major goal of TBFT is to provide secure and efficient block collation on all levels (shardchain, workchain, and masterchain) while maintaining Venom’s decentralization and linear scalability. TBFT architecture solves the famous blockchain trilemma (Buterin 2021) by providing the necessary tools for scalability without sacrificing decentralization or security.
External Message Queue (EMQ)
The major goal of the EMQ protocol is to achieve the reliable delivery of messages between actors, guaranteeing order and delivery count. EMQ’s major use is for external actors and cross-chain communication. EMQ is a protocol or message queue that guarantees the necessary level of delivery protection, replay protection, DDoG protection and total order without affecting the latency and finality.
What is the Venom token used for?
The VENOM utility token safeguards the Venom Blockchain through PoS. It’s also used for governance, protocol fees and developer incentives.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 9.3K new posts about Venom, driven by 5.2K contributors, and total online engagement reached 114M social interactions. The sentiment score for Venom currently stands at 79%. Compared to all cryptocurrencies, post volume for Venom currently ranks at 0. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Venom.
Powered by LunarCrush
Posts
9,335
Contributors
5,247
Interactions
114,071,403
Sentiment
79%
Volume rank
#0
X
Posts
407
Interactions
8,646,968
Sentiment
91%
Venom FAQ
How much is 1 Venom worth today?
Currently, one Venom is worth $0.11599. For answers and insight into Venom's price action, you're in the right place. Explore the latest Venom charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Venom, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Venom have been created as well.
ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKcoin Europe LTD
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Venom
Consensus Mechanism
Venom is a Layer-0 blockchain that employs a hybrid consensus mechanism combining Proof of Stake (PoS) and Byzantine Fault Tolerance (BFT) algorithms. In this system, validators are selected based on the amount of VENOM tokens they stake, with higher stakes increasing the likelihood of being chosen to produce new blocks. The BFT component ensures that at least two-thirds of validators must agree on the blockchain's state, enhancing security and consistency. This hybrid approach allows Venom to achieve high transaction throughput while maintaining decentralization and security.
Incentive Mechanisms and Applicable Fees
Within the Venom ecosystem, validators are incentivized through rewards earned by staking VENOM tokens and participating in block production. Users pay transaction fees in VENOM tokens for operations conducted on the network, which are distributed to validators as compensation for their services. The fee structure is designed to be low-cost, promoting user participation and developer adoption. Additionally, Venom supports staking and farming opportunities, allowing token holders to earn passive income, and facilitates access to decentralized exchanges and financial tools within its ecosystem.
Beginning of the period to which the disclosure relates
2024-03-26
End of the period to which the disclosure relates
2025-03-26
Energy report
Energy consumption
82125.00000 (kWh/a)
Energy consumption sources and methodologies
For the calculation of energy consumptions, the so called “bottom-up” approach is being used. The nodes are considered to be the central factor for the energy consumption of the network. These assumptions are made on the basis of empirical findings through the use of public information sites, open-source crawlers and crawlers developed in-house. The main determinants for estimating the hardware used within the network are the requirements for operating the client software. The energy consumption of the hardware devices was measured in certified test laboratories. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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