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11/27/2024 3:28:22 PM (GMT+1)

What are Decentralized Autonomous Organizations (DAO), and how are they related to cryptocurrency?

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Decentralized Autonomous Organizations (DAO) represent an innovative form of governance based on blockchain technology. Unlike traditional organizations, DAOs have no central leadership or administrative structure. All decisions are made by participants using smart contracts, ensuring transparency and security of processes. An important aspect is the use of cryptocurrency as a tool for voting and interaction. Token holders can propose changes, vote on them, and thus influence the development of the organization. This opens up new opportunities for creating fairer and more decentralized systems in various fields, from finance to social projects.


This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.



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