Dao crypto definition

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Key Takeaways A decentralized autonomous make use of this decentralized will have twice the weight bank, but instead are divided board of directors.

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A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community. A DAO is an entity designed to be fully autonomous and operable without a central point of control � A DAO is commonly defined by these five characteristics. DAO stands for decentralized autonomous organization. A DAO is a type of digital management structure governed by smart contracts with decisions.

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Investopedia is part of the Dotdash Meredith publishing family. There are severe consequences to improperly setting up or maintaining a DAO. For example, based on the outcome of a decision, certain code may be implemented to increase the circulating supply, burn of a select amount of reserve tokens, or issue select rewards to existing tokenholders. All votes and activity through the DAO are posted on a blockchain, making all actions of users publicly viewable. Partner Links.