Decentralized Autonomous Organization (DAO)
DAO that runs on a blockchain protocol fully and autonomously in accordance with rules encoded via smart contracts.
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What is DAO ?
The term DAO stands for “decentralized autonomous organization” and can be described as an open-source blockchain protocol governed by a set of rules (smart contracts), created by its elected members, that automatically execute certain actions without the need for intermediaries.
The DAO’s rules are embedded into computer code, which executes by itself based on the behavior of the protocol. There is no need to interpret these program rules as they are automatically implemented when the specified conditions occur.
Both the program rules and subsequent actions are recorded on a transparent and secure blockchain ledger, which cannot be tampered with thanks to an immutable timestamp and the distribution of the information to the network participants.
How Do DAOs Work?
Applying DAOs to the Real World
DAO its next evolutionary stage in in the crypto world
The explosion in decentralized finance (DeFi) protocols has led to a rise in the popularity of DAOs in 2020, as many yield farming and decentralized exchange (DEX) platforms like Compound (COMP), yearn.finance (YFI) and Uniswap (UNI) are dependent on them for governance.
Leading DAO Development Company
Our experience in the DAO development ensures round the clock client satisfaction. The driving factor for our company’s growth is due to the wide range of customized solutions for diversified industries. We are constantly working towards building a decentralized world powered by Blockchain Darta digital. Our team of adept DAO developers can provide you with tailor-made solutions as per requirements. We are the leading Blockchain Development Company and are available 24/7 to help you.
Our DAO Experience
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