Good evening everyone, Trust we all had a spendid day.

When you hear the word DAO what comes to your mind?
Some might say Double action only or disk at once. Well we are not wrong but we are talking about DAO in block chain.

WHAT IS A DAO

Decentralized autonomous organization for better understanding it is a system that works independently on it own with out human interference, all it needs is a code to set up the process.

A DAO can grow or improve just like human, all it takes is improving the code to carry out it’s functions

BENEFITS OF A DAO

  1. Trustless
  2. They can’t be shut down
  3. Open source

DOWNSIDES OF A DAO

  1. Vulnerable to attacks
  2. No business secrets

This is a topping on the ice cream, you don’t want to miss the ice cream itself.

Till next time, have a wonderful night rest.

Inksupdate team

Advertisement

7 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here