* A decentralized autonomous organization (DAO) is a software Program running on a blockchain that offers users a built-in model for the collective management of its code.
* DAOs differ from traditional organizations managed by boards, committees & executives in several significant ways.
* Rather than being governed by a limited group, DAOs use a set of rules written down in code ... Often Referred To As Smart Contracts and enforced by the network of computers running a shared software ... on the blockchain.
* To become a member of a DAO, users need to first join the DAO by buying its cryptocurrency. Holding the asset then generally gives users the power to vote on proposals and updates, proportional to the amount they hold.