#blockchain dao

[mobiloitteindia]

A DAO is a decentralized autonomous organization that cooperates according to rules encoded on the Ethereum Blockchain. DAO is decentralized, they are not subject to the control of any single entity. This makes them more resistant to hacking and corruption.

[mobiloitteindia]

A DAO is a decentralized autonomous organization that cooperates according to rules encoded on the Ethereum blockchain. 

Because DAOs are decentralized, they are not subject to the control of any single entity. 

The rules of a DAO are encoded in its smart contracts. 

These rules determine how the DAO interacts with the outside world and how its internal affairs are managed

[mobiloitteindia]

DAOs have a number of benefits over conventional organizations. DAOs are far less prone to corruption and manipulation than traditional organizations due to their decentralized nature. DAOs are transparent, which means that every transaction and activity taking place within one is visible to every member. This openness contributes to ensuring that DAOs are managed democratically and in the interests of the community.

[mobiloitteindia]

Launched in 2016, the DAO was a pre-existing independent organization (DAO) aimed at operating as an investor-led firm. Recommended as a transformation project, DAO raised ether (ETH) to $ 150 million USD and was one of the first large-scale fundraisers and high-profile projects built on the Ethereum blockchain – then one year old.