1. What is Zai?

Below is an introduction to Tokens, focusing on their fundamental characteristics and technological principles without involving price information:

1. Basic Composition: Tokens consist of three main elements: a set of rules (protocols), a ledger that records transaction history, and a decentralized network of participants. These elements enable Tokens to create reliable payment technologies without a central trusted intermediary.

2. Decentralization: The trading of Tokens can occur in a decentralized manner, without a central counterparty to execute transactions. Through distributed ledger technology, transaction history is recorded in a shared ledger, with each user storing the latest copy of this ledger.

3. Security: Tokens achieve security, decentralization, and transparency by utilizing blockchain technology. Blockchain is an immutable distributed digital ledger that makes transaction information nearly impossible to tamper with through consensus and cryptography.

4. Blockchain Operation Principles: Blockchain stores data in blocks that are linked in a chain. Each block has a specific storage capacity, and when a block is filled, it links to the previous block and generates a timestamp. Transactions are verified through consensus mechanisms such as proof of work and proof of stake.

5. Types of Tokens: Tokens can be categorized into four main types: coins, tokens, non-fungible tokens (NFTs), and stablecoins. Coins are native assets on their own blockchain, primarily aimed at securing the underlying blockchain network. Tokens are created on existing blockchain networks to interact with different platforms and applications within the blockchain ecosystem.

In summary, Tokens offer a new means of payment and value storage through their characteristics of decentralization, security, and transparency.

2. Who Founded Zai?

The history of Tokens dates back to the 1980s and 1990s when scientists and cryptographers began exploring the creation of fully encrypted and secure digital currencies. Here are some key individuals and events:

1. David Chaum: In 1989, David Chaum founded DigiCash, one of the early digital currency projects, which, despite not achieving great success, laid the groundwork for the future development of digital currencies.

2. Wei Dai: In 1998, computer engineer Wei Dai published a description of "b-money," proposing the concept of an anonymous distributed electronic currency system.

3. Nick Szabo: Also in 1998, Nick Szabo created BitGold, an electronic currency system where users had to perform proof of work and publish cryptographic solutions.

4. Satoshi Nakamoto: In 2008, an individual or group using the alias Satoshi Nakamoto published a document describing the Bitcoin protocol and its working version. In January 2009, the first block (known as the genesis block) was mined, and Bitcoin came into existence. Bitcoin is the first successful decentralized Token.

Thus, the founding of Tokens was a gradual process involving contributions from several pioneering individuals.

3. Which Venture Capitalists Invested in Zai?

Here are some notable venture capital firms that have invested in Tokens and blockchain projects:

1. a16z (Andreessen Horowitz): a16z is one of the leading venture capital firms in the blockchain and Tokens space, having invested over $100 million in Web3 projects, including Uniswap, Compound, dYdX, Solana, Celo, Dfinity, Flow, Arweave, Near, and others.

2. Coinbase Ventures: Since its inception in 2017, Coinbase Ventures has been a leader in Token venture investments, funding hundreds of companies at various levels, including key players in the Web3 and Tokens ecosystem.

3. Dragonfly Capital: Dragonfly Capital is a venture capital firm focused on Tokens and blockchain investments, having invested in nearly 80 companies, including OKCoin.

4. Alchemy Ventures: Alchemy Ventures is a venture capital firm investing in early-stage distributed computing and emerging blockchain technologies, having funded projects like ChainSafe Systems, Bluzelle Networks, and Althea Protocol.

These companies have made significant investments in the Tokens and blockchain space, driving development and innovation in the field.

4. How Does Zai Work?

The operation of Tokens is based on blockchain technology, which is a decentralized digital ledger. Here are its main operational principles:

1. Decentralization: Tokens are not issued or managed by any central authority but operate through a distributed network.

2. Blockchain: All transactions are recorded in a public ledger known as the blockchain. The blockchain is a series of connected blocks, with each block containing multiple transactions.

3. Encryption and Security: Tokens utilize cryptographic techniques to verify and protect transactions. Each transaction is encrypted and verified through complex mathematical calculations.

4. Farm; Mine: The creation of new coins occurs through a process known as Farm; Mine. Farmers or miners use high-performance computers to solve complex mathematical problems to validate transactions and create new blocks.

5. Trading: Users can buy and sell Tokens through exchanges and store them in digital wallets.

6. Consensus Mechanism: The blockchain network reaches agreement on the validity of transactions through a consensus mechanism. This can be proof of work (PoW) or other consensus algorithms.

In conclusion, Tokens achieve decentralized, secure, and transparent transactions through blockchain technology, encryption, and consensus mechanisms.