Dao

dao

Decentralized Autonomous Organizations are a new concept of companies which are managed by programs, instead of people. In DAOs the rules, according to which the company runs, are expressed in the form of smart contracts (self-governing software), and then enforced automatically, without human input. This allows for several important advantages, such as 24/7 operation, the lower impact of corruption on decisions, increased transparency and so on. However, DAOs can also be more susceptible to hacker attacks, given how difficult it is to change the governing code after the system is launched.

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