What is a DAO in Crypto? (Decentralized Autonomous Organization)

Summary

A Decentralized Autonomous Organization (DAO) is an organization governed by code rather than people. Token holders vote on proposals that are automatically executed by smart contracts. This video explains the concept, how DAOs work in practice, and their risks.

Key Concepts

Things To Remember

• A DAO is governed by its token holders — no CEO or board of directors.
• Decisions are implemented automatically by smart contracts once voted on.
• Governance token holders have voting power proportional to their holdings.
• DAOs are experimental — some have been exploited or governed poorly.

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