1. What is self?

Introduction to Cryptocurrency

Cryptocurrency is a type of digital currency that uses cryptographic techniques to secure transactions and control the creation of new units. It is not controlled by any government or institution and uses distributed ledger technology, such as blockchain, to record transactions.

Key Features:

1. Decentralisation: Cryptocurrencies are not controlled by any government or institution and use a distributed network to record transactions.
2. Cryptographic Technology: They employ cryptographic techniques to ensure transaction security and control the creation of new units.
3. Anonymity: Most cryptocurrency transactions are anonymous, allowing users to trade using pseudonyms or anonymous addresses.
4. Global Nature: Cryptocurrencies can be traded globally without geographical restrictions.

Main Applications:

1. Payments: Cryptocurrencies can be used to pay for goods and services.
2. Investment: Cryptocurrencies can serve as investment tools, with users buying and holding them in anticipation of profit.
3. Smart Contracts: They can be used to create and execute smart contracts, automating transactions and other business processes.

Main Regulatory Bodies:

1. SEC (Securities and Exchange Commission, USA): Responsible for regulating the securities nature and investment contracts of cryptocurrencies.
2. CFTC (Commodity Futures Trading Commission, USA): Responsible for regulating the commodity nature and derivative contracts of cryptocurrencies.
3. IRS (Internal Revenue Service, USA): Responsible for regulating the tax issues related to cryptocurrencies.

Other Relevant Information:

1. Blockchain Technology: Cryptocurrencies use blockchain technology to record transactions and control the creation of new units.
2. Digital Assets: Cryptocurrencies are digital assets that can be used for payments, investments, and other business processes.
3. International Regulation: Cryptocurrencies are under the scrutiny of international regulatory bodies, such as the IMF (International Monetary Fund).

2. Who Founded self?

The origin and development of cryptocurrency involve several key figures and events. The most renowned cryptocurrency is Bitcoin, which was created by an individual or group using the pseudonym Satoshi Nakamoto in 2008. The true identity of Satoshi Nakamoto remains unknown to this day.

Prior to Bitcoin, early attempts at digital currency included “eCash” launched by David Chaum in the 1990s, which influenced the later development of cryptocurrencies.

Therefore, specifically, there is no founder of a cryptocurrency named “self.” The development of cryptocurrencies is the result of contributions from multiple individuals and groups, particularly Satoshi Nakamoto’s founding of Bitcoin.

3. Which Venture Capitals Invested in self?

In the realm of cryptocurrency and Web3, here are some venture capital firms that have invested in cryptocurrencies and related projects:

1. a16z (Andreessen Horowitz): Invested in well-known projects like OpenSea and Coinbase.
2. Blockchain Capital: Invested in companies like Anchorage Digital.
3. KKR: Invested in companies like Anchorage Digital.
4. Goldman Sachs: Invested in companies like Anchorage Digital.
5. Qiming Venture Partners: Invested in Web3.0 companies like InfStones and imToken.
6. Blocktower Capital: Invested in projects like Axie Infinity.
7. Libertus Capital: Invested in projects like Axie Infinity.
8. AU21 Capital: Invested in various blockchain and cryptocurrency projects.

These venture capital firms have made significant investments in the cryptocurrency and Web3 sectors, driving the development of the field.

4. How does self operate?

Principles of Cryptocurrency Operation:

1. Blockchain Technology: Cryptocurrencies are based on blockchain technology, which is a distributed public ledger that records all transactions. This technology makes transactions difficult to alter or counterfeit.

2. Mining Process: The units of cryptocurrency are created through a process known as mining, which involves using computer power to solve complex mathematical problems that generate coins.

3. Transaction Process: Users can buy, sell, or hold cryptocurrencies through brokers or exchanges. Transactions require a two-factor authentication process, such as entering a username and password followed by a verification code sent via SMS.

4. Storage Methods: Cryptocurrencies are typically stored in crypto wallets, which can be online software (hot wallets) or offline electronic devices (cold wallets). Cold wallets are more secure as they are not connected to the internet, making them harder to hack.

5. Security Measures: Using hardware wallets (like Ledger Nano) can provide extra security, including offline generation of recovery phrases, setting identification codes, and utilizing secure element chips.

In summary, cryptocurrencies operate through blockchain technology, mining processes, secure transactions, and storage methods to ensure their safety and reliability.