Venn Network’s Testnet Launched

Venn Network announced the launch of its testnet for what the team describes as the first blockchain-native firewall, claiming to offer proactive security solutions specifically designed for decentralized applications (dApps) and Layer 2 networks. The testnet reportedly launches with support from over 45 initial partners, including prominent security operators and dApp integrations, as it aims to establish an ecosystem focused on safeguarding blockchain transactions from malicious attacks.

According to Venn Network, their security system works by preventing exploitative transactions before they occur on-chain. The network’s protocol incentivizes independent node and security operators to validate transactions within the Venn ecosystem, providing a decentralized approach to monitoring and securing network activity. Venn Network’s Co-Founder, Or Dadosh, claims that the project’s initial traction among diverse partners highlights an industry demand for enhanced security in digital asset protocols.

In 2024 alone, approximately $1.58 billion in cryptocurrency has been reported stolen, as per data from Chainalysis. Venn’s leadership claims that the project could provide a needed security layer for the industry. The launch partners include security operators like Sigma Prime, Chain Security, Certora, and OtterSec, along with integrations from dApps such as Ether.Fi, ZeroLend, and Syrup Finance.

As the team has stated, the testnet will involve operators validating transactions in real time, reportedly allowing only secure transactions to proceed while flagging any suspected malicious activities. Venn’s developers also report that the system has undergone rigorous testing in simulated attack scenarios, claiming it can preemptively detect and freeze potentially exploitative transactions.

Ironblocks, a prominent Web3 cybersecurity firm, is involved as one of the supporting security operators for Venn Network, though it is positioned as one of many in the decentralized security council the project plans to establish.

Venn Network anticipates that its decentralized approach could be a vital component for Web3 security solutions and states it will release further details about the network’s structure in the coming months.