Venom Network’s public testnet records 69 million transactions

Key takeaways

  • The Venom Network’s first testnet was successfully launched.

  • The team revealed that 223,446 wallets created were created, and 69,000,000 transactions were completed.

  • The Venom testnet is designed with ecosystem users and developers in mind.

Venom Network launches its first public testnet

Venom Foundation, a decentralised network aimed at accelerating Web3 development and which is licensed by the Abu Dhabi Global Market (AGDM), announced on Wednesday, May 3rd, that it has successfully launched its first testnet. 

Venom is a highly scalable layer-1 blockchain network designed to support a wide range of decentralised applications. 

 

According to the Venom Foundation, 223,446 wallets were created in the first week of the public testnet. Furthermore, the team revealed that a total of 69 million transactions were carried out during the testnet. 

The Venom Foundation previously pointed out that the public testnet going live is a huge milestone for the blockchain ahead of its mainnet launch. 

In addition to the testnet, the Venom Foundation also launched several dApps developed in-house as it grows its blockchain ecosystem. 

Other than the testnet, Venom has also released multiple decentralized applications (dApps) developed in-house as part of the L1’s growing ecosystem. Peter Knez, the Chair of the Venom Foundation Council,

While commenting on the testnet launch last week, 

“We’re excited to announce the launch of Venom’s public testnet, a crucial step towards our upcoming mainnet launch. With our highly scalable and reliable asynchronous blockchain, we’re confident that developers will be able to build innovative dApps, while users will be able to experience them firsthand.”

1,370,189 NFTs minted during testnet

In addition to the record number of wallets created and transactions completed during the testnet’s first week, Venom also reported another important milestone.

According to the Venom Foundation, a total of 1,370,189 NFTs were minted during the first week of the testnet launch. This is an important milestone as Venom seeks to become a leading blockchain in the NFT ecosystem. 

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