Decentralized Autonomous Organization (DAO)
By CoinGecko | Updated on Mar 03, 2020
Open source and decentralized systems that do not require centralized operators or controllers. A decentralized autonomous organization can vote on various aspects of a system without the need of central controller. Members of a decentralized autonomous organization are typically made up of token holders whose voting strength are proportional to their holdings relative to the whole ecosystem.
Related Terms
Decentralized
A system where there are no centralized points of failure or organization with no central authority figure.
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
Sim Swapping
It is a tactic where hacker overtake the mobile phone to exploit the two-factor authentication and two-step verification.
Protocol
The set of rules in a network in which participating members comply to allow proper communication.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.