DAO (Decentralized Autonomous organization)

A DAO is an organization or company that is managed decentrally. Decision-making works with smart contracts in which rules and agreements have been established that are stored on the blockchain. People who contribute to the project are rewarded with tokens. With these tokens you become a kind of stakeholder and they give you voting rights in decision making. So by contributing a lot or buying a lot of tokens on the free market, you get more influence on decision making within the project.

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Cryptopedia: DAO (Decentralized Autonomous organization)