DAO

A DAO, or Decentralized Autonomous Organization, is an organizational structure governed by smart contracts on a blockchain. Unlike traditional organizations, a DAO operates without a centralized authority, allowing participants to make decisions collectively. Members usually hold tokens that grant them voting rights on various proposals, such as funding projects, altering governance rules, or managing resources.The key characteristics of a DAO are its decentralized control, transparency in operations, and automation through code. Decisions are made by consensus among members rather than a single executive, leading to a more democratic process. DAOs are often used in the context of cryptocurrency projects, community initiatives, and governance models where trust is distributed among participants rather than concentrated in a few individuals.DAOs can vary in their structure and purpose, ranging from investment funds to social clubs, and they aim to leverage the benefits of blockchain technology to promote collaboration and innovation within communities. Ultimately, a DAO seeks to create an efficient and resilient framework for collective decision-making and resource management.