Cryptocurrency Q&A
What does DAO stand for?
What does DAO stand for?
Davide
Tue Jul 23 2024
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7 answers
2039
Excuse me, I'm trying to wrap my head around the ever-evolving world of cryptocurrency and blockchain technology. Could you please clarify for me what DAO stands for in this context? I've heard it mentioned frequently but haven't quite grasped its full meaning. Is it an acronym for a specific concept or technology within this field?
7 answers
Valentina
Thu Jul 25 2024
These votes determine the specifics of how the DAO operates, including but not limited to fund allocation, project approvals, and policy changes.
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Claudio
Thu Jul 25 2024
These smart contracts encode the rules and regulations that govern the operations of the DAO.
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charlotte_bailey_doctor
Thu Jul 25 2024
Decisions within a DAO are recorded on a blockchain, ensuring transparency and immutability.
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noah_smith_researcher
Thu Jul 25 2024
Members of a DAO participate in the governance process by voting on proposals related to the smart contracts.
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Dreamchaser
Thu Jul 25 2024
DAO represents Decentralized Autonomous Organization, an innovative digital management framework.
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