logo
search
Published on Feb 23, 2022

Decentralized Autonomous Organizations (DAO)

Content
#Glossary
icon-alt

Decentralized Autonomous Organizations (DAO) refers to companies set out in a decentralized fashion based on blockchain-enabled smart contracts. The idea behind setting up a DAO is to allow communities and contributors fair participation in the governance and future development of blockchain technologies.

DAO enables each participant to take an equal part in decision-making within the organization. These decisions include how the company is using the funds and other resources. The consensus in DAO is achieved via a distributed, decentralized blockchain where each DAO can determine their required percentage for a decision to pass.

Share this blog on
social-altsocial-altsocial-altsocial-altsocial-alt

Subscribe to our Newsletter

Get the best updates from the Web3 ecosystem & The Dapp List in your inbox every week 👇

newsletter-img