What is DAO

A decentralized autonomous organization is a democratized community-based organization governed by smart contracts. The smart contract enables interactions between internet-native members of the DAO and is public and verifiable by all members. DAOs ensure transparency and enable members to partake in decision making through casting their votes. The contract dictates the rules of an organization via immutable code and these rules are unchangeable except by reaching a consensus through the voting process.

DAO

A decentralized autonomous organization is a democratized community-based organization governed by smart contracts.

Related terms

Deep Web Distributed Ledger Technology (DLT) DApp DeX DeFi Double Spending

Join our free newsletter for daily crypto updates!