1. What is vDAI?

Introduction to Venus DAI (vDAI) Cryptocurrency

Venus DAI (vDAI) is a stablecoin based on the Binance Smart Chain (BSC) and is issued by the Venus Protocol. The Venus Protocol is a decentralised lending protocol that allows users to collateralise crypto assets to borrow stablecoins. The value of vDAI is pegged to the US dollar, aiming to maintain a stable value.

Main Features:

1. Stablecoin: vDAI is a stablecoin whose value is pegged to the US dollar, designed to maintain a stable value.
2. Decentralised: vDAI is issued by the Venus Protocol and belongs to the category of decentralised cryptocurrencies.
3. Based on BSC: vDAI is issued on the Binance Smart Chain (BSC), which has lower transaction fees and faster transaction speeds.
4. Lending Protocol: vDAI is part of the Venus Protocol, allowing users to collateralise crypto assets to borrow stablecoins.

Note: The cryptocurrency market is highly risky; please ensure to conduct thorough research and risk assessment before investing.

2. Who founded vDAI?

VDAI (Venus DAI) is a cryptocurrency founded by the Venus Protocol. The Venus Protocol is a decentralised lending and stablecoin protocol based on the Binance Smart Chain.

3. Which venture capitalists invested in vDAI?

vDAI is a stablecoin based on the VechainThor blockchain; here are some venture capital firms that invested in vDAI:

1. Binance Labs: Binance’s venture capital arm, which invested in V Systems, the company developing vDAI.
2. Huobi Capital: The venture capital division of Huobi, which invested in V Systems.
3. OKEx Blockdream Ventures: OKEx’s venture capital department, which invested in V Systems.
4. Vechain Foundation: The developers of the VechainThor blockchain, which invested in V Systems.
5. Fenbushi Capital: A venture capital firm focused on blockchain and cryptocurrency, which invested in V Systems.
6. Node Capital: A venture capital firm concentrating on blockchain and cryptocurrency, which invested in V Systems.

Please note that this information may not be complete or accurate, and investment situations may change over time.

4. How does vDAI work?

Operational Principles of the VDAI Cryptocurrency

VDAI is a cryptocurrency based on blockchain technology, and its operational principles are similar to other cryptocurrencies. Here are its main features and operational methods:

1. Blockchain Technology: VDAI utilizes blockchain technology to record and verify transactions. The blockchain is a distributed public ledger that records all transactions and ensures their security and transparency.

2. Decentralisation: VDAI is decentralised, which means it is not under the control of any central authority or government. Transactions are peer-to-peer and anonymous, providing higher privacy and security.

3. Encryption Technology: VDAI uses encryption technology to protect transactions and ensure their security. Encryption technology secures transaction data during transmission and storage, preventing fraud and hacking.

4. Mining: Units of VDAI are created through a mining process. Mining involves using computer power to solve complex mathematical problems, generating new blocks and adding them to the blockchain.

5. Transaction Verification: Transactions of VDAI are verified by nodes in the blockchain network. Nodes maintain up-to-date records in the blockchain network and continuously verify and approve new transactions.

6. Wallet Storage: VDAI is stored in digital wallets, and users can use these wallets to send and receive vDAI.

In summary, the operational principles of VDAI cryptocurrency are based on blockchain technology, decentralisation, encryption technology, mining, and transaction verification. These features make VDAI a secure, transparent, and decentralised digital payment system.