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What is a DAO? #DAO #NFTs #Crypto #DeFi
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A DAO, or "Decentralized Autonomous Organization," is a community-led entity with no main authority. It is completely autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon choices, and at any point, propositions, ballot, and even the really code itself can be openly examined.

Ultimately, a DAO is governed totally by its specific members who jointly make crucial decisions about the future of the job, such as technical upgrades and treasury allowances.

Normally speaking, neighborhood members develop proposals about the future operations of the protocol and after that come together to vote on each proposal. Proposals that attain some predefined level of agreement are then accepted and implemented by the rules instantiated within the smart contract.

Familiar hierarchical structures seen within big corporations give way to neighborhood collaboration under this framework. Each specific member of the DAO manages the protocol at some level.

Part of the sophistication of this framework is the positioning of rewards. That is, it remains in the person's benefit to be forthright in their ballot and just to approve proposals that serve the best interest of the protocol itself.

A healthy, robust protocol will gather more usage, and in turn, increase the worth of the tokens of which each DAO member is in possession of. So as the protocol prospers, so do the token holders.

How does a DAO work?

The rules of the DAO are established by a core team of neighborhood members through making use of smart contracts. These smart contracts lay out the fundamental framework by which the DAO is to operate. They are extremely noticeable, proven, and publicly auditable so any possible member can totally comprehend how the protocol is to operate at every step.

As soon as these rules are officially written onto the blockchain, the next action is around funding: the DAO requires to figure out how to receive financing and how to bestow governance.

This is generally accomplished through token issuance, by which the protocol offers tokens to raise funds and fill the DAO treasury.

In return for their fiat, token holders are provided certain voting rights, normally proportional to their holdings. Once financing is completed, the DAO is ready for release.

At this moment, when the code is pushed into production, it can no longer be altered by any other methods aside from an agreement reached through member ballot. That is, no special authority can customize the guidelines of the DAO; it is entirely up to the community of token holders to choose.

Smart Contracts in Blockchain Explained | Guide to Understanding DeFi Smart Contracts

Watch this blockchain smart contracts guide to get a complete and thorough understanding of how blockchain smart contracts work, why are they used, and who controls them. Vince Wicker from https://SocialBees.io explains in simple an extremely simple to understand format that will make you more knowledgeable about how decentralized finance smart contracts work.

Smart contracts are self-executing contracts containing the terms and conditions of an agreement among peers. The smart contract executes on the Ethereum blockchain's decentralized platform. The agreements facilitate the exchange of money, shares, property, or any asset.

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss. They can also automate a workflow, triggering the next action when conditions are met.

Smart contracts work by following simple “if/when…then…” statements that are written into code on a blockchain. A network of computers executes the actions when predetermined conditions have been met and verified. These actions could include releasing funds to the appropriate parties, registering a vehicle, sending notifications, or issuing a ticket. The blockchain is then updated when the transaction is completed. That means the transaction cannot be changed, and only parties who have been granted permission can see the results.

Within a smart contract, there can be as many stipulations as needed to satisfy the participants that the task will be completed satisfactorily. To establish the terms, participants must determine how transactions and their data are represented on the blockchain, agree on the “if/when...then…” rules that govern those transactions, explore all possible exceptions, and define a framework for resolving disputes.

Then the smart contract can be programmed by a developer – although increasingly, organizations that use blockchain for business provide templates, web interfaces, and other online tools to simplify

Why Invest In Crypto?
Cryptocurrency is Reliable
The reliability of crypto is another reason people are choosing to invest in digital currencies. Because there is a finite supply of bitcoin, Ray goes over how it is a long-term and stable form of currency that cannot be subjected to dilution from inflation by political or government agencies.

“One of the top reasons people invest in cryptocurrency is partially because of the allure of gains,” Kline added, “and because of crypto's finiteness as a potential safeguard against inflation.”
It's a Social Experience
If you've noticed all your friends and family beginning to invest in crypto, you might feel compelled to join in to avoid FOMO and be part of the viral effect.

Tahem Verma, co-founder and CEO of Mesha, said owning crypto is a social experience. Investors get to be part of a community and engage with others around the world.
“When the richest person in the world touts a coin across social media and talks about it on ‘Saturday Night Live' or people hear of friends who have made 50x, 100x or more getting involved early in a hot altcoin, it draws others into the market,” said Ryan Hansen, head of sales for Mercury Digital Assets. “Like investing in stocks, everyone wants to buy low and sell high and have a story about how they got in early on the next big thing.”
You Own What You Buy
“Many tokens provide you with governance and ownership of the product,” Verma said. “This means that you are not only a user of the product but also an owner.”
Today, people have alternative asset options that veer differently than traditional assets. Kline said cryptocurrency has the potential to be like the internet: foreign and unrelatable at first, but inevitably ubiquitous and imperative.

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