What is a DAO?

Question

Describe a DAO.

Answer 1

DAO is known as  Decentralized Autonomous Organization, that functions on a blockchain and is governed by smart contracts. It enables decentralized decision-making and shared ownership, granting participants the ability to vote on proposals and contribute according to predefined rules. DAOs seek to remove intermediaries and central authorities, fostering transparency, trust, and governance guided by the community.

Check out the below video tutorial to learn more about DAO  -