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
Token Burn
An event in which tokens are verifiably removed permanently removed from circulation.
Permissioned Blockchain
It is a private blockchain where the nodes must be previously authorized by a central entity.
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
Mining Rig
A dedicated hardware to mine
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