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

Seed

A value used to initiate generation of pseudorandom number, ususally a string of 12 commen English words.

Encryption

In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.

Virtual AMM (vAMM)

The vAMM functions similarly like an AMM but does not contain an actual asset pool.

Fiat-Pegged Cryptocurrency

Cryptocurrencies are pegged to an underlying asset.

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