VENOMVENOM (VENOM) Price

1. Project introduction

Core features of Venom blockchain:

Dynamic Sharding – Venom Blockchain uses dynamic sharding to increase its transaction throughput and network capacity. Dynamic sharding is the process of dividing a blockchain network into smaller parts called shards that can process transactions in parallel. Venom uses this feature to adjust the number of shards based on network demand. This ensures that the platform can handle large volumes of transactions without compromising security or decentralization.

Consensus and algorithms - Venom blockchain uses a hybrid consensus that combines Proof-of-Stake (PoS) and Byzantine Fault Tolerance (BET) algorithms. PoS consensus is used to select validators who can participate in the consensus process and produce new blocks, while the BFT algorithm is used to ensure that the selected validators agree on the state of the blockchain. The consensus is efficient and provides fast finality, meaning transactions are confirmed quickly and are irreversible.

Asynchronous Architecture - Venom is a blockchain of blockchains with a distinct asynchronous architecture. The protocol ultimately consists of Masterchain, Workchain and Shardchain blocks. The protocol’s heterogeneous nature allows its different components to work together as part of Venom’s powerful blockchain technology.

2. Token application and distribution

Token application:

- Incentivizing validators: The VENOM token rewards validators who contribute to maintaining the network's integrity. Validators receive a reward in VENOMs for each block they produce, encouraging them to act honestly and consistently. The block reward consists of an independent, configurable reward for each block and the transactions' fees collected per block.

- Protecting against Sibyl attacks: The network uses a Proof-of-Stake (PoS) mechanism to safeguard against Sibyl attacks.Participants must stake their tokens to become validators, and the number of validators a participant can create is limited by the number of tokens they hold.

- Delegated staking: Participants in the network can delegate their tokens to other participants who want to become validators. This process is referred to as ""staking,"" It enables token holders to participate in the network's consensus mechanism by delegating their tokens to validators responsible for validating transactions and creating new blocks. By delegating tokens, the community can effectively control the list of validators and ensure that the network remains decentralized. This helps to prevent a small group of validators from having too much control over the network and potentially engaging in malicious behavior.

- Governance: The network will introduce governance mechanisms, allowing participants to propose and vote for proposals using the VENOM token. This will help to decentralize decision-making and give control to the community.

Token distribution:

The Venom blockchain's initial supply of tokens for issue during the mainnet launch is 7,200,000,000 VENOM. Of this initial supply,

25,5% is for unlock and immediately available, while 74,5% is under lock. Tokens allocated to validators will be used to form the initial

validators pool and provide incentives for users participating in validator programs. Validator programs are designed to attract new

participants to the network who are ready to support decentralization and network stability.