What is the concept of DAO in the world of cryptocurrencies?

3 answers

• Coder edgeJul 24, 2025 · 2 months ago
  DAO, short for Decentralized Autonomous Organization, is a concept in the world of cryptocurrencies that refers to an organization that operates on a blockchain and is governed by smart contracts. It is designed to be autonomous and decentralized, meaning that it operates without a central authority or control. DAOs are run by a community of token holders who make decisions through voting mechanisms. The goal of DAOs is to create a transparent and trustless organization that can operate without intermediaries. They offer benefits such as increased transparency, reduced costs, and improved efficiency compared to traditional centralized organizations.
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• Isagi YoichiAug 19, 2024 · a year ago
  DAO, or Decentralized Autonomous Organization, is like a digital version of a traditional organization, but with a twist. Instead of being controlled by a central authority, a DAO is governed by a set of rules and smart contracts that are executed on a blockchain. This means that decisions are made collectively by the community, and no single entity has full control. DAOs have gained popularity in the world of cryptocurrencies because they enable decentralized decision-making and eliminate the need for intermediaries. They offer a new way of organizing and operating businesses in a transparent and efficient manner.
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• Connor DomanMay 21, 2023 · 2 years ago
  DAO, which stands for Decentralized Autonomous Organization, is an innovative concept in the world of cryptocurrencies. It is a type of organization that operates on a blockchain and is governed by smart contracts. Unlike traditional organizations that have a hierarchical structure and are controlled by a central authority, DAOs are decentralized and operate based on consensus among its members. This means that decisions are made collectively and transparently. DAOs offer several benefits, including increased security, transparency, and efficiency. They have the potential to revolutionize the way organizations are structured and operated in the digital age.
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