The crypto and Web3 ecosystem is expanding rapidly, and as a result, there is a growing need for platforms that can support decentralized applications (DApps) and digital governance. Venom Blockchain is addressing this challenge by offering a scalable and secure infrastructure that can accommodate various applications, including Web3 development, the creation of stablecoins backed by fiat currency, and central bank digital currencies (CBDCs).
Christopher Louis Tsu, the CEO of Venom Blockchain, is leading the project. He brings a wealth of experience in technology innovation, having worked at companies like Apple Computer and in the biotechnology industry. In this interview, Tsu shares his insights on Venom’s technological contributions to the future of blockchain and its role in driving adoption across different industries.
Cointelegraph: What is your perspective on the current state of the crypto and Web3 ecosystem?
Christopher Louis Tsu: Having been involved in the tech industry and Web3 for a while now, 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 mainstream media acknowledges its legitimacy.
We are on the verge of an unprecedented era where technology is becoming deeply integrated into society. The increasing trust, investment, and partnerships with governments and corporations are creating a landscape full of exciting 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 are closely linked, as they eliminate friction in payment settlements. This transformative era of financial innovation will drive broader social changes.
CT: What are the key features of the Venom blockchain?
CLT: Venom stands out with its Threaded Virtual Machine (TVM), Mesh Network protocol, account abstraction, and Dynamical Sharding. These features enable interchain communication, horizontal and vertical scaling up to 100,000 transactions per second, faster and more secure consensus, and low transaction costs.
Venom Blockchain also offers account abstraction, providing authentication options beyond private key ownership. Every account is a smart contract with its own code, eliminating the concept of externally owned accounts.
CT: Who developed the Venom blockchain? Can you tell us about the team’s experience and goals?
CLT: Crypto’s appeal lies in its open-source nature and software composability, allowing us to enhance existing market offerings. The Venom team brings a wealth of experience to the table, covering various areas of expertise with a focus on management and business development. Our goal is to foster the long-term growth of the blockchain as a lasting product. Our track record speaks for itself, with the successful launch of the Venom blockchain and the operation of multiple DApps in the Venom ecosystem.
CT: What sets Venom apart from other layer 1 blockchains?
CLT: The crypto world is divided into Ethereum Virtual Machine (EVM) and non-EVM blockchains. Venom is a TVM blockchain, an asynchronous blockchain where transactions are executed simultaneously, unlike synchronous blockchains where transactions occur one by one.
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, fiat-backed stablecoins, and asset tokenization. It also provides flexibility for Web3 DApps and developers with its Solidity-like programming language, Threaded-Solidity (T-Sol).
CT: Why is there a need for this infrastructure?
CLT: Institutions and individuals need a blockchain solution that can scale to achieve mass adoption without compromising speed or increasing fees. The Venom blockchain’s infrastructure not only offers business opportunities but also empowers governments to harness blockchain technology without losing 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 for the unbanked. Additionally, it reduces costs associated with cross-border transactions.
CT: What are Venom’s plans for partnerships, events, and integrations?
CLT: We are launching a TokenForge Hackathon and other ecosystem incentive programs to encourage developers and entrepreneurs to build on the Venom blockchain. We are actively pursuing business-to-government deals in Eastern African countries and the Commonwealth of Independent States (CIS) to establish strategic partnerships that leverage blockchain technology for local challenges and economic development.
We are also exploring wholesale banking deals to streamline financial services and promote inclusion. Additionally, we are initiating carbon credit-related deals to contribute to environmental sustainability. Our goal is to drive meaningful impact and growth across various sectors through strategic partnerships and integrations.
CT: Where does Venom stand in the crypto-native world of Web3?
CLT: Venom plays a crucial role as a medium that connects corporations and Web3. In the short term, we aim to attract developers to explore the TVM and develop projects on Venom. This will create a snowball effect, generating increased on-chain activity.
However, our primary strength lies in collaborating with sovereign nations to integrate blockchain technology into various aspects of their operations. This extends beyond initiatives like CBDCs or tokenization; we are engaged in substantial governmental projects with ongoing discussions.
CT: How do you envision the future of the digital landscape?
CLT: The crypto space is growing rapidly, and it may soon reach a point where corporations dismiss managers who don’t act swiftly on crypto projects. Legal arbitrage is already happening, with countries like the United Arab Emirates, Singapore, Switzerland, and the British Virgin Islands becoming prime locations for crypto development.
Regulatory hurdles remain a significant 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 likely begin in two to three years.
Learn more about Venom Blockchain.
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