DAO (Decentralized Autonomous Organization)

A Decentralized Autonomous Organization (DAO) is a type of organization that operates through smart contracts on a blockchain. Unlike traditional organizations, DAOs are managed by their members rather than a central authority. Decisions are made collectively, often through a voting system where members propose and vote on initiatives using tokens. This structure ensures transparency and reduces the need for intermediaries. DAOs aim to create more democratic and efficient forms of governance, allowing individuals to collaborate and make decisions together in a secure and decentralized manner.