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Venn’s category-creating solution has 45 launch partners
Venn Network, blockchain's first proactive security network, launched its testnet earlier today, bringing to market the first decentralized firewall built specifically for dApps and chains.
Through the first half of 2024 alone, $1.58 billion worth of crypto was stolen by cyberthieves, according to Chainalysis research. These thefts encompassed a wide variety of attack vectors and platforms, and saw criminals increase the average amount of crypto stolen by nearly 80 percent. This staggering amount of brazen theft shows the urgent need for more robust protection.
The Venn Network is a decentralized security protocol that prevents exploit transactions before they hit the blockchain. The network safeguards protocols and rollups at the execution level, with an incentivization scheme that encourages independent node and security operators to validate transactions across the Venn ecosystem.
“The launch of Venn Network’s testnet has come with a significant amount of interest,” said Venn Network Co-Founder Or Dadosh. “The diversity of launch partners, and intense interest shown has proven the industry wants to safeguard users and their assets, and that a solution like this is what many believe is needed to catalyze broader adoption of digital asset protocols and platforms.”
Launch partners include the following:
Security operators:
Sigma Prime, Chain Security, Certora, OtterSec, Hats.Finance, Spearbit, BlockSec, ChainPatrol, Salus, Fuzzland, Shieldify, Hashlock, Arcadia, Ironblocks, Allnodes, AltLayer, CoinSummer, DAIC, DSRV, Everstake, InfStones, Kiln, Luganodes, Nodes.Guru, Validation Cloud
dApp integrations:
Ether.Fi, Ethena, ZeroLend, Syrup Finance, Kinto, Glue, Kelp, Siren, Scholes, Helix, Poolz, and 10 more.
dApps and chains on the Venn Network can run all or a portion of their transactions through the Venn network, with operators confirming the validity of transactions in real-time, without users ever noticing a perceptible delay in processing, with settlement happening on-chain. Transactions found to be invalid are frozen from the rest of the transactions, with other users able to use the platform as usual. In the event a malicious transaction is frozen, protocols are alerted and able to take further actions.
Venn Network has been rigorously testing over 60 hacks on its private testnet in recent months, putting its decentralized security network to the ultimate test. By simulating real-world attack vectors, evaluating how effectively Venn Network can prevent malicious transactions from reaching the blockchain. The results are shaping Venn's evolution as a trusted layer of protection, proving that on-chain security isn't just theory - it's a science-backed reality.
Venn Network is supported by Ironblocks, a leading web3 cybersecurity firm. Ironblocks will continue to support the network and act as a security operator, but it will be one of many security operators and not take priority over any of the other security operators. The platform will eventually be run by a security council that is rapidly taking shape, with more info on this to be shared in the coming months.
To join Venn Network or learn more, please visit the following:
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