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A beginner’s guide to DAOs

linda.mirror.xyz · 2,110 words · saved by 1 readers

A decentralized autonomous organization (DAO) is a group organized around a mission that coordinates through a shared set of rules enforced on a blockchain.

What are DAOs? A decentralized autonomous organization (DAO) is a group organized around a mission that coordinates through a shared set of rules enforced on a blockchain. One of the main benefits of a DAO is that they are more transparent than traditional companies since all actions and funding in the DAO are viewable by anyone. This significantly reduces the risk of corruption and censorship. Publicly traded companies must provide independently audited financial statements, but shareholders only get to see the financial health of the organization at a snapshot in time. Since a DAO's balance

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