The crypto and Web3 ecosystem is expanding rapidly, and there is a growing demand for platforms that can support decentralized applications (DApps) and digital governance. Venom Blockchain is aiming to meet this challenge by offering a scalable and secure infrastructure that can support a wide range of applications, from Web3 development to the creation of stablecoins and central bank digital currencies (CBDCs).
Leading the project is Venom Blockchain CEO Christopher Louis Tsu, an experienced entrepreneur with a background in technology innovation. In this interview, Tsu discusses Venom’s technological contributions to the future of blockchain and its role in driving adoption across various industries.
Cointelegraph: What are your thoughts on the current state of the crypto and Web3 ecosystem?
Christopher Louis Tsu: I have been involved in the tech industry and Web3 for a long time, and I have witnessed a significant shift in the perception of this sector. It’s no longer seen as a bubble backed by thin air, even by mainstream media.
We are now on the verge of an unprecedented era where technology is becoming deeply intertwined with society. There is a surge in trust, investment, and partnerships with governmental and corporate entities, which is creating a new landscape full of possibilities.
CT: What opportunities does the market present for blockchain companies?
CLT: On-chain data shows that USD-based stablecoins like Tether (USDT) and USD Coin (USDC) dominate transactions. Stablecoins and asset tokenization have experienced explosive growth in a short period, indicating that distributed ledger technology is here to stay and will gradually permeate various aspects of our lives.
Stablecoins and tokenization eliminate unnecessary friction in payment settlements and pave the way for financial innovations that can drive broader social changes.
CT: What are the key features of the Venom blockchain?
CLT: Venom offers key features like the Threaded Virtual Machine (TVM), Mesh Network protocol, account abstraction, and Dynamical Sharding. These features enable interchain communication, horizontal and vertical scaling, high transaction speeds of up to 100,000 transactions per second, and secure consensus with low transaction costs.
Venom also provides wider authentication options beyond private key ownership through its built-in account abstraction feature. Every account on the Venom blockchain is a smart contract with its own code, eliminating the concept of externally owned accounts.
CT: Who developed the Venom blockchain, and what are their goals?
CLT: The Venom team plays a pivotal role in enhancing the crypto market through open-source nature and software composability. The team brings a wealth of experience in management and business development to the table, with a focus on fostering long-term growth and success.
The team has a track record of flawless launches and successful operation of multiple Venom ecosystem DApps in the current market.
CT: How is Venom different from other layer 1 blockchains?
CLT: In the crypto world, blockchains can be divided into two categories: Ethereum Virtual Machine (EVM) and non-EVM blockchains. Venom stands out as a TVM blockchain, which is a non-EVM asynchronous blockchain where transactions are executed simultaneously.
With features like account abstraction, Dynamic Sharding, and the Mesh Network protocol, Venom opens up new opportunities for finance and government solutions, such as CBDCs and fiat-backed stablecoins. It also provides flexible options for Web3 DApps and developers with its Solidity-like programming language, Threaded-Solidity (T-Sol).
CT: Why is there a need for such infrastructure?
CLT: Institutions and individuals need a blockchain solution that can scale and achieve mass adoption without compromising speed or increasing fees. Venom’s infrastructure not only offers business opportunities but also empowers governments to leverage blockchain technology while maintaining control.
This technology has broader potential for developing countries, allowing them to tokenize real-world assets like minerals, forests, and carbon credits. It can also enable banking services to establish micro-lending protocols for small farmers and promote financial inclusion. Additionally, it can reduce costs associated with cross-border transactions.
CT: What are Venom’s plans for partnerships, events, and integrations?
CLT: We are launching a TokenForge Hackathon with a prize pool of $200,000 to encourage developers and entrepreneurs to build on the Venom blockchain. We are also actively seeking business-to-government (B2G) deals in Eastern African countries and the Commonwealth of Independent States (CIS) to establish strategic partnerships and drive economic development.
We are exploring opportunities for wholesale banking deals, carbon credit-related deals, and other partnerships that can drive meaningful impact and growth across various sectors.
CT: How does Venom position itself in the Web3 world?
CLT: Venom plays a crucial role in connecting corporations and Web3, positioning itself in the middle. In the short term, our focus is on attracting developers to explore the TVM and develop projects on Venom. We are fostering talents and generating projects to increase on-chain activity.
Our primary strength lies in collaborating with sovereign nations to integrate blockchain technology into various aspects of their operations. We are engaged in substantial governmental projects with ongoing discussions.
CT: What is your vision for the future of the digital landscape?
CLT: The crypto space is growing rapidly, and corporations may dismiss managers who don’t act swiftly on crypto projects. We are already seeing legal arbitrage in prime locations for crypto development.
Regulatory hurdles remain a barrier, but countries are competing for talent by offering favorable conditions. As talent relocates, countries will strive to attract crypto projects back to their jurisdictions. The real race will begin in about two to three years.
Learn more about Venom Blockchain.
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