The Cryptocurrency Backed by VC Giant Andreessen Horowitz
Stability is what the cryptocurrency world needs right now, says Rune Christensen, founder of MakerDAO.
That’s why his company’s Dai token has attracted major backers like venture capital firm Andreessen Horowitz.
“A stable cryptocurrency really is one of those really fundamental building blocks that every other application needs [in order] to function,” says Christensen.
The Dai, which launched in December 2017 and is the first decentralized cryptocurrency on the Ethereum blockchain, gets rid of volatility by pegging itself to the U.S. dollar. That means one Dai is always worth $1. It is also backed by centralized assets.
Unlike other cryptocurrencies, the Dai isn’t for speculative investments. Holders can easily convert it into fiat currency and send it to each other.
For the full interview, [click here](https://cheddar.com/videos/the-no-volatility-cryptocurrency).
Nvidia's stock closed at an all-time high Monday at above $504 a share, ahead of the company's latest quarterly earnings report which is due out later Tuesday.
The CEOs of three popular tech companies have been subpoenaed by the Senate Judiciary Committee, which ordered the heads of Discord, Snap and X to testify at a hearing on protecting children online.
'X' owner Elon Musk says he is suing watchdog group Media Matters after the group published an analysis writing that the social media company was placing advertisements from several brands next to anti-Semitic content.
A federal appeals court appeared inclined Monday to reimpose at least some restrictions on Donald Trump’s speech in his landmark election subversion case.
