Cryptocurrency Q&A
What is a DAO in crypto?
What is a DAO in crypto?
Martina
Mon Nov 18 2024
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7 answers
1712
A DAO, or Decentralized Autonomous Organization, in crypto refers to an internet-native organization whose CORE functions are automated by smart contracts. It is owned and controlled by its members, operating without a central authority. DAOs use tokens to facilitate community governance, incentives, and funding, enabling a more democratic and transparent organizational structure within the blockchain ecosystem.
7 answers
Stefano
Wed Nov 20 2024
A DAO lacks a central authority figure or governing body.
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MountFujiVista
Wed Nov 20 2024
Instead of relying on a hierarchy, it functions through collective decision-making.
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Lorenzo
Wed Nov 20 2024
Members of a DAO are granted tokens issued by the organization.
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ShintoMystic
Wed Nov 20 2024
A DAO represents a decentralized autonomous organization.
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emma_anderson_scientist
Wed Nov 20 2024
It is a unique entity structure that operates in a bottom-up manner.
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