1. What is chi?

Tokens are a type of digital currency based on decentralized technology, using encryption to control the production and transfer of currency. Here is a basic introduction to Tokens:

1. Decentralization: Tokens are issued and managed without relying on central authorities, but rather through a peer-to-peer network and consensus mechanisms for transaction execution and validation.

2. Blockchain Technology: Tokens utilize blockchain as the underlying technology, which is a distributed digital ledger recording all transaction histories.

3. Cryptographic Algorithms: Tokens use cryptographic algorithms to ensure the security and immutability of transactions. For example, Bitcoin uses the SHA-256 algorithm, while Ether uses the Ethash algorithm.

4. Mining and Farming: In the Tokens network, miners verify transactions and earn newly issued currency by solving complex mathematical problems, a process referred to as "Farming; Mining."

5. Addresses and Transactions: Tokens use addresses to receive and send currency, with addresses generated from public keys through cryptographic algorithms. Transactions occur over the network without the need for intermediaries.

6. Trustworthiness: The value of Tokens depends on people's trust and recognition rather than its intrinsic value.

In summary, Tokens are a new type of digital currency that achieves secure, transparent, and immutable transactions through decentralization and encryption technology.

2. Who founded chi?

The founder of Tokens is Satoshi Nakamoto, who published the Bitcoin white paper on November 1, 2008, outlining a new concept for electronic currency. However, Nakamoto's true identity remains a mystery.

3. Which venture capitals invested in chi?

Based on the provided information, the following venture capital firms invested in Tokens-related projects:

1. Sequoia Capital: Invested in HTX Network, providing tens of millions of dollars in Series A funding.
2. Innovation Works: Invested in OKCoin (later renamed OKEx), providing a million-dollar angel investment.
3. Matrix Partners and Mantra Capital: Invested in OKCoin, providing tens of millions of dollars in Series A funding.
4. SoftBank: Invested in FTX and other Tokens exchanges, suffering significant losses.
5. IDG Capital: Engaged with Binance, offering a valuation over ten times that of Sequoia Capital.

This information indicates that several venture capital firms participated in the investment of Tokens-related projects.

4. How does chi work?

The operation of Tokens is primarily based on blockchain technology, which is a decentralized distributed ledger system. Here are the basic principles:

1. Decentralization: Tokens do not rely on any centralized institutions (like governments or banks) for issuance and control, but instead use a consensus mechanism to ensure its security and reliability.

2. Blockchain: The transaction records of Tokens are stored on the blockchain, which is a distributed digital ledger. Each block contains multiple transactions and is linked to the previous block via cryptographic algorithms, forming an immutable chain.

3. Farming; Mining: The creation of new blocks is completed through the "Farming; Mining" process. Miners utilize powerful computers to solve complex mathematical problems to verify transactions and add them to the blockchain. As a reward, miners receive a certain amount of newly issued Tokens and transaction fees.

4. Transactions: When users want to conduct Tokens transactions, they sign the transaction with their private key and broadcast it to the network. After miners verify the transaction, it is added to the blockchain, completing the transaction.

5. Wallets: Users employ digital wallets to store, send, and receive Tokens. Each wallet has a unique address used to receive Tokens.

6. Consensus Mechanisms: The blockchain uses consensus mechanisms to ensure the security and consistency of the network. Common consensus mechanisms include Proof of Work (PoW) and Proof of Stake (PoS).

7. Transparency and Anonymity: All transactions on the blockchain are public, but the identities of the traders are anonymous since only wallet addresses are recorded.

8. Immutability: Once a transaction record on the blockchain is confirmed, it cannot be altered or reversed.

In conclusion, Tokens achieve characteristics of decentralization, transparency, security, and immutability through blockchain technology and consensus mechanisms.