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Decentralized Autonomous Organizations
Revolutionize the organizational structure with DAO Development governed by a community of stakeholders for instant trust and transparency.
What is DAO?
DAO (Decentralized Autonomous Organization) is an organization whose rules are represented by a transparently coded program. It is controlled by the members of the DAO organization, and does not involve any central authority. As the set of rules is embedded into the code using Smart Contract, no supervisors or managers are required, thus removing many hierarchy hurdles. With DAO, there is no need to trust anyone in the group, but the DAO’s code is absolutely transparent and verifiable by anyone. The chief characteristic of self-sustainability in DAO brings up new potential for global decentralized collaboration. The structure of DAO is fundamentally open, accountable, and also rewards its members through serving the ownership economy.
Features of DAO Blockchain Development:
DAO is not governed by a centralized entity. Decentralization means that anyone can be a part of the DAO, as long as it complies with the established norms to participate, in which each member enjoys the same rights.
DAO is an organization that follows its own rules, which are written in smart contract systems and executed on a blockchain. Smart contracts held in the DAO are highly visible, verifiable, and publicly auditable so any member can fully understand them.
DAO performs operations automatically and autonomously, without any external intervention. It is a self-financed business model, in which a certain percentage of the reward goes directly to the treasury fund, so there is no need for investment from an external network.
DAO has the internal property that is "DAO token", which is the asset used for financing purposes. In this case, it is made up of custom crypto, tokens, or online community space. DAO token is also useful for owners, as it allows them voting rights on possible projects.
Open Source Code
DAO is open-source, transparent, and allows any interested third parties to access it. This allows transactions to be displayed on the blockchain transparently. The DAO platform enables market actors to source, supply, and share trustworthy data.
DAO uses blockchain technology to be decentralized and autonomous. DAOs benefit from their characteristics such as transparency, immutability, and incorruptibility. DAOs are P2P networks that allow clients to make data sharing faster and easier.
DAO vs Centralized Organizations
The traditional centralized organization is usually hierarchical, whereas the DAO is usually flat and fully democratized.
In centralized organizations, changes that need to be made are instructed by the sole party, and voting may or may not be provided. In DAO, decisions are made by voting to implement any changes.
Traditional organizations require human handling and central controlled automation, whereas, in DAO, services are automatically handled in a decentralized manner.
In centralized organizations, activities are typically private and limited to the public. In DAO, all activities are public and fully transparent.
DAO’s working mechanism
Decentralized Autonomous Organizations (DAOs) operate on smart contracts that contain the organization's rules and hold its treasury. Once the smart contract goes live on Ethereum, the rules cannot be changed unless there is a vote. As the smart contract holds the treasury, it ensures that no one can spend money without the group's approval. With smart contracts, DAOs do not require any central authority or middlemen, as everything is public and tamper-proof once it goes live on Ethereum.
Our Services for DAO Blockchain Development:
Smart Contract Development
Our team creates secure smart contracts that ensure your DAO operates along its defined rules. Once the smart contracts are in place, no one can change them, ensuring that your DAO functions as intended.
We develop voting nodes for your DAO platform. These nodes allow you to validate decisions made by your DAO and continue with your volunteer activities to earn in a self-sustaining manner.
We develop robust dApps for your DAO, such as crypto wallets for users to earn and trade on your platform. These dApps enable users to engage in multiple activities autonomously.