Venom

What is Venom?

Venom is a Layer-0 blockchain platform designed for high scalability, security, and regulatory compliance. Licensed by the Abu Dhabi Global Market (ADGM), Venom employs dynamic sharding and asynchronous architecture to support a wide range of decentralized applications (dApps) across DeFi, CBDCs, NFTs, and enterprise solutions. Its infrastructure includes a Masterchain, Workchains, and Shardchains, enabling horizontal and vertical scaling for diverse use cases.

Key Features

• Threaded Virtual Machine (TVM): Venom utilizes the TVM, facilitating asynchronous smart contract execution and high throughput.
• Dynamic Sharding: The network automatically adjusts the number of shards based on demand, ensuring optimal performance and scalability.
• Account Abstraction: Venom's architecture allows for flexible account models, enhancing user experience and security.
• Multi-Chain Architecture: Venom's design includes Masterchain, Workchains, and Shardchains, supporting a heterogeneous and interoperable ecosystem.
• Regulatory Compliance: As the first blockchain licensed by ADGM, Venom is positioned to support regulated financial products and services.

Native Token: VENOM

VENOM is the native utility token of the Venom blockchain, serving multiple roles within the ecosystem:

• Transaction Fees: Used to pay for operations and interactions within the network.
• Staking: Holders can stake VENOM to participate in network consensus and earn rewards.
• Governance: Enables participation in on-chain governance, allowing stakeholders to influence protocol decisions.
• Wrapped VENOM (WVENOM): A TIP-3 standard token representing VENOM, facilitating compatibility with DeFi protocols and smart contracts.

Integration with Cryptoworth

Venom integrates seamlessly with Cryptoworth, providing users with enhanced financial clarity in their digital asset accounting workflows. Through this integration, users can efficiently track, categorize, and report their VENOM transactions, ensuring accurate financial reporting and compliance with accounting standards.

Getting Started

1. Download and install the Venom Wallet, available as a mobile application and browser extension, to securely store and manage your VENOM tokens.
2. Acquire VENOM tokens through supported exchanges or platforms.
3. Participate in staking via Venom Pools to support network security and earn rewards.
4. Explore the Venom ecosystem, including dApps, NFTs, and DeFi platforms, to utilize your VENOM tokens.
5. Utilize Cryptoworth to monitor and manage your VENOM holdings for streamlined accounting and reporting.

For more information, visit the Venom website.

Frequently Asked Questions

1. How can I account for VENOM token activity?

VENOM staking, gas fee usage, or reward flows must be documented for compliance. Cryptoworth connects to Venom to structure these flows into financial data that supports tax and audit readiness.

2. Can wrapped tokens like WVENOM be tracked separately?

Yes. Wrapped tokens can be assigned unique accounting treatments. Cryptoworth tracks conversion events and categorizes WVENOM activity by purpose and counterparty. Explore advanced token tracking tools.

3. How does Cryptoworth help institutions on Venom?

Regulated entities need rigorous reporting. Cryptoworth supports multi-wallet monitoring, ledger exports, and audit trails aligned with enterprise requirements. Get audit-ready with Cryptoworth.