DAO - a new type of organization built on the blockchain

Feb 8, 2022

Cryptocurrencies are gradually being loved by everyone. With the continuous upgrading of the blockchain and cryptocurrency industries, new fields have become the hot topics of the year every year. For example, decentralized finance (DeFi) is booming in 2020. Known as the year of DeFi, in 2021, NFT and Metaverse will attract the attention of the world, which is called the first year of NFT and Metaverse. What about 2022? Many people say that DAO will be a hot topic in 2022, so what is DAO? What are the uses and features? What about DAO coins?

What is DAO?

The full text of DAO is Decentralized Autonomous Organization, which is a decentralized governance organization in Chinese. It is an organization established by programming rules, a flat organization, no longer top-down, but an organization in which everyone equally participates in operation. The governance of DAO is built on the community, and the decisions are made by the people who hold the tokens, which are not controlled by any centralized company or government. This not only achieves the goal of democracy and fairness, but also simplifies the process. above problem. Therefore, DAO is called the new social organization model of the next generation.

Most of the modern society are traditional companies, that is, the power is concentrated on the executors or shareholders, and the rest of the members can only obey orders and cannot participate in the core decision-making, and asset distribution is also held by a small number of people. DAO, on the other hand, wants to break such a hierarchical system. Its decision-making is public and transparent, and the asset is how many tokens you hold and the rewards are distributed equally.

This article will cover:

What is DAO?

DAO technology

Components of a DAO

Advantages and disadvantages of DAOs

The development direction of DAO

DAO related coins

Invest in DAO related projects