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2. What is a DAO?
DAO Development Services We already told you what DAO means, which
in Spanish translates: Decentralized Autonomous Organization. But, to
understand what exactly this concept refers to, let’s break it down word by
word:
3. Characteristics of a DAO
Now that we know what a DAO is, let’s see its main characteristics: DAO
Development Company One of the characteristics of a DAO that best represents
what this new concept means is its autonomy. A DAO can execute operations
automatically and autonomously, without any external intervention. Goodbye, banks,
private entities or governments!
4. It is based on Smart Contract : For a DAO to be effective, the first thing that is
needed is to have a set of rules or norms that regulate how the organization will
function. DAO Platform Development For these rules to be taken as valid, they must
be encoded as a smart contract (Smart Contract).According to Professional
Review , a Smart Contract is made up of a series of digital agreements that must
be complied with and that are based on specific rules.
