- Venom Blockchain has launched its testnet, judged as a very successful one.
- The testnet saw more then 220,000 wallets created with over 69 million transactions conducted.
Venom, a multi-blockchain network that connects users to the decentralized web has announced the successful launch of its first Testnet.
So far, the Venom Blockchain has seen the creation of more than 220,000 unique wallets in just 7 days, suggesting that there is a significant level of interest and demand for the project, and people are excited about what Venom can offer. Additionally, the testnet saw a total of 69,000,000 transactions completed and a total of 1,370,189 NFT’s minted.
A massive thank you to our incredible community for participating in this first week of #VenomTestnet!
With your help, Venom will pave the way for a brighter future.
Last week in numbers👇 pic.twitter.com/xqGuyhFH4I
— Venom Network (@Venom_network_) May 3, 2023
Meanwhile, it is crucial to keep in mind that these are only preliminary figures from the testnet, and it’s unknown how many of these users will continue to use the network after it launches on the Mainnet.
Noteworthy, the creation of unique wallets is an important metric for any blockchain project as it reflects the level of adoption and usage of the network. Following the announcement, the testnet’s team has since received congratulatory messages from the crypto community and so many users have expressed satisfactory experiences.
Accordingly, the team has highlighted that the community’s growth, NFT minting, and bug reports have all played a crucial role in helping to build a stronger, and more resilient ecosystem.
The Goal Behind the Venom Testnet Launch
According to previous reports, the testnet’s goal is to allow developers to test and debug dApps and blockchain protocols while also offering users hands-on experience with these DApps.
In general, testnets are used by blockchain developers and users to test various functionalities of the blockchain, such as smart contracts, transactions, consensus mechanisms, and network performance. By using a testnet, developers can identify and fix bugs and vulnerabilities in the network before launching the mainnet.
Notably, the Launch of a testnet is a significant milestone for any blockchain project as it allows developers and users to test the network’s functionality and identify any potential issues before the mainnet launch.
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One important difference between a testnet and a mainnet is that the former uses test tokens or coins, which have no real value. On the contrary, the latter uses the native cryptocurrency of the blockchain network, which has a market value.
Remarkably, the successful testnet launch comes shortly after the Blockchain announced a partnership with DoraHacks, Developer DAO, and Hacken to host its first virtual hackathon.
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