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What is a decentralized autonomous organization (DAO)?

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A decentralized autonomous organization (DAO) is an organization represented by rules encoded as a computer program that is transparent, controlled by organization members, and not influenced by a central government. It operates through smart contracts on a blockchain and is managed by its members through voting mechanisms.
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A decentralized autonomous organization (DAO) is an organization represented by rules encoded as a computer program that is transparent, controlled by organization members, and not influenced by a central government. It operates through a set of smart contracts on a blockchain, allowing for decentralized decision-making and management without the need for traditional hierarchical structures.

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