What is a dao & how does it work?

What Is a DAO? DAO stands for decentralized autonomous organization, which is a fancy term for a group of people who agree to abide by certain rules for a common purpose. Those rules are written into the code of the organization via smart contracts—algorithms that run when certain criteria are met.

What is dxdao?

DXdao is a collective that transcends borders as does its products, which are globally accessible and permissionless. DXdao strives to build an inclusive global community. Distributed Genesis - DXdao (or dxDAO) started as a radical experiment in decentralization.

What is a DAO (decentralized autonomous organization)?

What is a DAO? As stated earlier, DAO stands for Decentralized autonomous organization (DAO). This organization does not have a centralized leadership. The decisions are taken by the community at large and these decisions are governed by a set of rules enforced on the blockchain forming the backbone of this DAO.

Is there a hierarchy in a dao?

Unlike traditional organizations, there is no hierarchy in DAOs. Rather, to align interests of the organization with that of its members, DAOs incentivizes a distributed network of users to achieve their goal.