Decentralized Autonomous Organization (DAO)
Jump to navigation
Jump to search
A Decentralized Autonomous Organization (DAO) is an Organization that is represented rules encoded as a computer program that is transparent, controlled by the organization members without influence of a central government.
- AKA: Decentralized Autonomous Corporation (DAC).
- Example(s):
- Binance Smart Chain (https://www.binance.com/),
- Dash Cryptocurrency (https://www.dash.org),
- dVest Labs DAO (https://www.dvest.org/),
- Ethereum Network (http://ethereum.org/),
- Index Coop DAO (https://www.indexcoop.com/),
- MakerDAO (https://makerdao.com/en/),
- Steemit (https://steemit.com/),
- The DAO Organization,
- …
- Counter-Example(s):
- See: Decentralized Network, Decentralized Computing System, Distributed Computing System, Smart Contract, Organization, Ethereum, Bitcoin, Blockchain Database, Cryptocurrency, Decentralized Application, Crowdfunding.
References
2021
- (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/Decentralized_autonomous_organization Retrieved:2021-10-2.
- A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government [1][2]. A DAO's financial transaction record and program rules are maintained on a blockchain[3][4][5]. The precise legal status of this type of business organization is unclear.[6] A well-known example, intended for venture capital funding, was The DAO, which launched with $150 million in crowdfunding in June 2016, and was nearly immediately hacked and drained of in cryptocurrency[7]. The hack was reversed in the following weeks, and the money restored, via a hard fork of the Ethereum blockchain: the Ethereum miners and clients switched to the new fork.
- ↑ Prusty, Narayan (27 April 2017). Building Blockchain Projects. Birmingham, UK: Packt. p. 9. ISBN 9781787125339.
- ↑ [The Decentralized Autonomous Organization and Governance Issues Regulation of Financial Institutions Journal: Social Science Research Network (SSRN). 5 December 2017. The Decentralized Autonomous Organization and Governance Issues]. Regulation of Financial Institutions Journal: Social Science Research Network (SSRN). 5 December 2017.
- ↑ Vigna, P.; Casey, M. J. (27 January 2015). The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order. St. Martin's Press. ISBN 9781250065636.
- ↑ Hodson, H. (20 November 2013). "Bitcoin moves beyond mere money". New Scientist.
- ↑ "The DAO of accrue: A new, automated investment fund has attracted stacks of digital money". The Economist. 21 May 2016.
- ↑ Popper, N. (21 May 2016). "A Venture Fund with Plenty of Virtual Capital, but No Capitalist". New York Times.
- ↑ Price, Rob (17 June 2016). "Digital currency Ethereum is cratering amid claims of a $50 million hack". Business Insider. Retrieved 17 June 2016.