What Is the DAO?
The DAO (Decentralized Autonomous Organization) is a decentralized, autonomous organization that operates on the Ethereum blockchain. It was created in 2016 as an experiment to see if it could be used to create a self-governing and self-sustaining organization without any human intervention or control. The idea behind the DAO is that all decisions are made by its members through voting, with each member having one vote per token they own. This allows for more democratic decision making than traditional organizations where only those at the top have power over decisions.
The DAO has been designed so that no single person can make unilateral decisions; instead, all proposals must pass through a consensus process before being implemented. All funds raised from investors are held in smart contracts which allow them to be released when certain conditions are met such as reaching milestones or achieving goals set out by the proposal’s creator. The goal of this system is to ensure transparency and accountability while allowing for greater flexibility and scalability than traditional organizations offer.