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
Market Taker
Participant of the market who buys and sells from currently existing orders
Custody
Protective care or guardianship of an asset.
Difficulty
A relative measure on how difficult it is to correctly guess a new block
Byzantine Generals’ Problem
A term used to describe the situation a single strategy which requires consensus from all members within a group who cannot be trusted or verified
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