Cryptocurrency Q&A
What does a DAO do in crypto?
What does a DAO do in crypto?
Chiara
Wed Nov 06 2024
|
6 answers
1316
A DAO in crypto serves multiple functions. It enables decentralized decision-making within a blockchain network, promoting transparency by recording all decisions and transactions on the blockchain. This enhances efficiency as DAOs operate through automatically executing code and smart contracts, reducing the need for intermediaries. Additionally, DAOs encourage innovation in the blockchain industry by allowing community members to propose and fund new projects.
6 answers
Alessandra
Fri Nov 08 2024
A decentralized autonomous organization, or DAO, represents a novel management framework.
Was this helpful?
344
87
DondaejiDelightfulCharmingSmileJoy
Fri Nov 08 2024
It leverages blockchain technology to streamline certain operational processes.
Was this helpful?
118
21
Valentino
Fri Nov 08 2024
Within a DAO, voting mechanisms are automated, reducing the need for manual intervention.
Was this helpful?
292
88
Eleonora
Thu Nov 07 2024
Transaction processing is also facilitated through blockchain, enhancing efficiency.
Was this helpful?
158
23
Giulia
Thu Nov 07 2024
The decentralized nature ensures that no single entity controls the organization.
Was this helpful?
160
25
Load 5 more related questions
