What Is DAO?

DAO stands for Decentralized Autonomous Organization. It is an organization that operates through smart contracts and blockchain technology, allowing for decentralized decision-making and governance. A DAO is governed by a set of rules and protocols that are coded into the blockchain, enabling participants to vote on proposals, allocate resources, and make collective decisions. DAOs aim to create a transparent, democratic, and decentralized way of organizing and managing various activities, such as funding projects, managing assets, and governing decentralized networks.