Title: What is a DAO and How Does It Work? [Print this page] Author: gentlemen Time: 2024-4-19 21:56 Title: What is a DAO and How Does It Work? Edited by gentlemen at 2024-4-20 00:04
DAO stands for Decentralized Autonomous Organization. It's an organization represented by rules encoded as a computer program that is transparent, controlled by organization members, and not influenced by a central government. DAOs are revolutionary because they enable a completely democratic and secure form of organization where all decisions are made by consensus or a majority vote. They're particularly popular in the cryptocurrency and blockchain communities for managing collective assets or projects without traditional management structures. For a detailed explanation of DAOs and their impact on digital governance, this article is very helpful: https://paybis.com/blog/glossary/what-is-dao/ It outlines the structure, benefits, and real-world applications of DAOs.
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