DAO ( Digital decentralized autonomous Organization)
A Decentralized Autonomous Organization (DAO) is a self-contained society that does not require outside assistance to function. DAO engaging entails a group of people engaging with one another using an open-source protocol that is self-enforcing. A DAO’s members are n’t tied together by a legal body and they haven’t signed any formal legal contract.
DAO’s currently progressed up the technology stack from blockchain protocol to smart contract with the introduction of the ethereum Network. Previously, creating a DAO required a blockchain network with an attack -resistant consensus system but however smart contracts made DAO development simple and programmable. Decentralized Autonomous companies are supposed to be entirely transparents with all of the company’s financial operations public to all shareholders and the DAO community. The DAO’s smart contract and underlying code are likewise open to the public. DAO requires a high level of see-through. The goals behind a DAO is to go beyond typical centralised management of a firm and create a totally public, similar to the underlying principle behind cryptocurrencies.
DAOs provide online communities superpowers,allowing them to
DAO’S reward contributors by providing them a say in the organization’s future.
DAO’s make use of cryptocurrencies to allow people all around the globe to pool their money.
What are the benefits of DAOs?
Features of DAO
DAO's Development Solutions
DAO’s currently progressed up the technology stack from blockchain protocol to smart contract with the introduction of the ethereum Network.
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