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What is a DAO - How does a DAO work

A DAO stands for Decentralized Autonomous Organization, and it is an investor-directed venture capital fund organization based on blockchain technology.<br>https://www.cmnnews.live/what-is-a-dao-how-does-a-dao-work/

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What is a DAO - How does a DAO work

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  1. What is a DAO? How does a DAO work? A DAO stands for Decentralized Autonomous Organization, and it is an investor-directed venture capital fund organization based on blockchain technology.

  2. How does a DAO work: • The first step is to create a smart contract that can only be changed by a coded governance system once it’s launched. • Secondly, sources of funding must be determined and governance must be activated. Typically, funding is obtained through token sales that include voting rights. • Step three: deploy smart contracts on the blockchain, from which point onwards stallholders will decide future organization. The developer(s) have no more influence than any other stakeholder.

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