VENOM BLOCKCHAIN
Competitor Comparison
Competitive Advantages
2min
Existing blockchain networks are confronted with one or more of the following challenges which make it difficult to adopt them in real-world use cases:
- Limited scaling of the network based on demand.
- High transaction fees as a result of users competing for compute.
- Low transaction throughput, synchronous processing of transactions.
- Inability to offer scalability, security, and decentralization at the same time (so-called "blockchain trilemma").
- Providing a secure, stable, and reliable service that is not centralized.
Venom's architecture is designed to overcome these challenges to provide a secure, decentralized, scalable, cost-efficient blockchain network that can be seamlessly adopted by existing industries and businesses.
The unique architecture of Venom provides its blockchain with competitive advantages over existing distributed ledger technologies and blockchains in the ecosystem. Some of these competitive advantages include:
- Scalability: The Venom protocol’s architecture is designed to enable unlimited scalability via dynamic sharding and horizontal scaling. Increases in demand result in the network splitting shardchains to reliably ensure high transaction throughput.
- Security: Transactions on the Venom blockchain are secure and tamper-proof thanks to its advanced consensus mechanism and the structure of its distributed network. Venom’s Proof-of-Stake consensus is based on the Byzantine fault-tolerant (BFT) consensus algorithm which increases the network’s resistance against attacks significantly.
- Regulation: The Venom blockchain is designed to comply with regulatory requirements. It is licensed under the Abu Dhabi Global Market (ADGM) and provides an auditable platform for regulators.
- Adoption: Many present-day blockchains can not readily be adopted in real-world industries because of low transaction throughput, limited scalability, and high transaction costs. The Venom blockchain solves these challenges and simplifies the adoption of its blockchain technology for a wide variety of industries that benefit from improved operations and competitive edges made possible through Venom.
- Interoperability: The Venom blockchain is designed as an interoperable protocol that can be seamlessly connected with other blockchains to enable interoperability. Venom’s cross-chain communication protocol ensures interoperability between the network’s workchains. This allows developers building on Venom and end users to exchange assets and data without the need for third-party bridges.
