The Venom Foundation is a new and exciting project that has been granted a license by the Abu Dhabi Global Market (ADGM) and is stirring up quite the uproar in the world of cryptocurrency. Their latest move entails a whopping $1 billion worth of investments in Web3 startups, while simultaneously establishing a layer-0 blockchain that will serve as the backbone of an expansive network of Web3 apps across the globe.

The whitepaper released by the Venom team indicates that 22% of the primary token supply will be set aside for the community. Keeping this in mind, we can say that It is highly probable that this allotment will be dispensed via an airdrop system to early adopters.

Venom network has launched its public testnet. In this article, I will take you through how you can interact with Venom testnet platform to become eligible for the airdrop. 

What is Venom?

The Venom Foundation is a revolutionary platform that aims to usher in a new era of a decentralized multinational economy that operates with the aid of unique and innovative blockchain-based monetary strategies. They are providing users with products that fall in the real-world asset (RWA) space with the added benefit of blockchain transparency. Notably, the platform has garnered full regulatory approval from financial regulatory authorities in Abu Dhabi, affirming its credibility and potential.

At the core of Venom Foundation lies a modular blockchain architecture that is constructed around its custom Threaded Virtual Machine (TVM). The use of TVM allows for the seamless implementation of smart contracts via a communication model that is asynchronous and allows for dynamic sharding. Additionally, by employing the Actor model, TVM can set new benchmarks for scalability and efficiency in the blockchain ecosystem. This unique approach to blockchain architecture is a testament to the Venom team’s dedication to crafting a robust and high-performance infrastructure that can deliver tangible benefits to users.

When it comes to handling interactions between accounts, the Venom blockchain appears to have an edge over EVM-founded networks, offering improved parallelism and minimized waits. Even in times when the network experiences weightier traffic, validators can break into parallel groups and tackle transactions using techniques called “split events.” Such innovative approaches aim to lay the groundwork for the next wave of digital services and products, positioning Venom as a key player in the blockchain space. The ability to handle parallel transactions efficiently is a significant advantage in this regard and could be a key differentiator for Venom in the highly competitive blockchain ecosystem

The Venom Blockchain provides developers greater flexibility and modularity in their dApp designs by abstracting the functionality of an account into a smart contract. External messaging is a crucial feature in Venom that allows the blockchain to interact with the external world seamlessly. By bridging the gap between off-chain and on-chain systems, the Venom blockchain is able to receive data and events from external sources and use that information to trigger actions inside the blockchain network, even if the sender doesn’t have an on-chain entity.

One of the standout features of the Venom Blockchain is its ability to integrate into the dApp designs created by developers an enhanced range of flexibility.  Perhaps even more impressive is the platform’s external messaging capabilities, which enable seamless interaction between the blockchain and the wider world. This innovative feature enables the Venom Blockchain to accept data and events from external sources, “bridging the gap between on-chain and off-chain systems”. What’s particularly noteworthy is that these interactions can instigate actions inside the network ecosystem, even in a scenario where the one who has sent the message doesn’t hold an on-chain entity.

How to participate in the Venom Network Airdrop?

It’s clear that Venom is taking aggressive measures to consolidate its position in the ever-growing Web3 industry. With such a significant investment and a robust infrastructure, the platform is poised to become a major player in the Web3 space This airdrop, much like the others, could be a very lucrative way for you to make some money without even putting in a lot of funds. If you wish to qualify for a possible Venom token airdrop, you would need to interact with the platform actively. To do so you will just have to put in very little time and follow the step by step guide given below

Step 1: Create a Venom Wallet 

  1. Visit the official website for Venom Foundation using this link
  2. Click on the ecosystem in the top bar and from the drop down select Venom wallet
  3. In the top right go on download and then Select the option where you wish to download the wallet. In this guide, we will be using the Chrome extension wallet
  4. In the new tab click on Add to chrome  followed by add extension 
  5. Now click on venom wallet under chrome extensions 
  6. After that, a new web page will open where you will have to click on Create a new wallet 
  7. Read and accept the privacy policy 
  8. Next, click on submit 
  9. Now you will be given a seed phrase that you have to store carefully and never share with anyone 
  10. Then just simply enter the seed phrases asked in order to verify your account 
  11. After you have verified your seed phrase creates a password for your wallet 
  12. Now your wallet will be all set up 

Step 2: Request some test VENOM funds

  1. Visit the official website of the Venom Blockchain Testnet Campaign through this link: 
  2. Select connect wallet 
  3. Click on Venom Chrome Extension followed by Connect
  4. Click on Log in with Twitter 
  5. Approve the authorization notification from Twitter 
  6. Click on Follow in order to go to Twitter and follow the @VenomFoundation account
  7. Now select check so as to verify
  8. Click on claim
  9. Enter your password and select submit 
  10. In some time you would have received your test tokens. 

Step 3: Perform Taks 

  1. Visit the official website of the Venom Blockchain Testnet Campaign through this link: 
  2. Perform as many tasks as you can 
  3. Each task requires you to interact with a product in the Venom ecosystem 

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To conclude 

The concept of utilizing blockchain technology to create a decentralized financial system is gaining increasing traction in the modern world. Venom Foundation, with its unique approach to real-world asset offerings, is well positioned to take advantage of this trend and revolutionize the financial appchain sector. With full regulation and a promising technological framework, Venom Foundation is poised to make significant strides towards establishing a blockchain-based financial ecosystem that can truly transform the global economy. As a result, we feel that getting its airdrop could prove to be very beneficial for you. Hence the best strategy is to interact with the platform now in order to stand a chance of winning huge rewards in the future.