Decentralized Autonomous Organizations (DAOs) are revolutionising the way in which we take into consideration governance and organizational buildings.
At their core, DAOs are organizations that function with out a government, utilizing good contracts to handle their operations.
On this weblog, we are going to delve into what a DAO is, the way it works, its advantages and disadvantages, and discover some real-life examples as an example their potential.
Desk of Contents
DAO stands for Decentralized Autonomous Group.
Because of this a DAO is actually a corporation run by code, which is agreed upon by its members.
As an alternative of counting on a standard administration construction, DAOs use good contracts to facilitate decision-making and operations.
These good contracts automate processes, enabling the group to perform…