Veridian Hyperdrive technology is based on hyperdrives used in the Stargate series. Basically the hyperdrive allows a vessel to open a subspace window and move into hyperspace. The ones the Veridians currently have is actually based on technology found in an Alien ship that crashed on Veridia Prime's sole moon many years before Veridians finally made the first manned flight to space. Taken by the government, its been kept a secret and the technology developed from reverse engineering what was found on the ship is publicly of sole Veridian design.
Pros:
-Has the potential to be as efficient as other FTL drives used in the galaxy
-With the right power source, can traverse a galaxy relatively quickly, even make intergalactic travel easy.
Cons:
-Veridians don't possess a power source that can utilize the potential of the technology.
-Veridians current power source is Naquadria, which is highly unstable. Veridians have made some progress to make it a viable resource, but they still have some way to go.
The Dominion naturally continues to experiment with the technology. Of course as they work on this technology, they are also utilizing what FTL drives they can buy from Kuat Drive Yards. Veridians are also working on wormhole drive or well, they will, in the future.