Introduction In the ever-evolving realm of blockchain technology, Decentralized Autonomous Organizations (DAOs) have emerged as a groundbreaking concept. They represent a shift from traditional hierarchical structures to decentralized, community-driven governance models. But what exactly is a DAO?
What Is a Decentralized Autonomous Organization? A Decentralized Autonomous Organization (DAO) is a collectively-owned, blockchain-governed organization. Unlike traditional organizations that rely on central leadership, DAOs operate on a set of predefined rules encoded as smart contracts on a blockchain.