DAOs and Governance

DAOs, or Decentralized Autonomous Organizations, are digital organizations run by rules encoded as smart contracts on a blockchain. Instead of a central authority, members participate in decision-making through voting using tokens. Governance within a DAO involves members proposing ideas, voting on changes, and collectively managing the organization’s direction and resources. This structure promotes transparency, decentralization, and community-driven control, allowing participants to collaborate and make decisions without traditional intermediaries. Essentially, DAOs enable groups to operate democratically in the digital realm, ensuring decisions reflect the consensus of their members.