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DAO: What it is & How Does It Work?

by ImmuneBytes
what is a DAO?

DAO stands for Decentralized Autonomous Organizations. As the name suggests, it has no central authority; DAOs operate with the voting power of the token holders who cast their votes collectively.

This organization emerges from a legal structure wherein, each of the members shares a common goal to act in the organization’s best interests. It has been popularized by Cryptocurrency enthusiasts and is used in the process of decision-making in blockchain technology.

Every activity and vote is posted on the blockchain, and this is how everything can be viewed publicly. This is why security becomes an indispensable part of this which cannot be overlooked.

Does it sound too overwhelming to understand? Let’s make it easier for you. This blog will walk you throug