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
Consensus
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
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Cryptocurrency with a price peg to fiat currencies or commodity.
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