The concept of DAO

in dao •  4 years ago 

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Regarding the definition of DAO, there is currently no uniform standard. DAO, as an ideal result of the encryption technology revolution, originally originated from Ori Brafman's topic on decentralized organizations in The Starfish and the Spider [25] and Yochai Benkler's "peer production" (peer production) in The Wealthof Networks [26]. With the advent of encrypted digital currency, in 2013, Daniel Larimer first proposed a concept similar to DAO—decentralized autonomous corporation (DAC). The difference between DAC and traditional enterprises lies in decentralization and decentralization[22] . In 2014, Daniel Larimer added the concept of DAC again. Subsequently, Vitalik elaborated on the understanding of DAC [27], and inspired by Daniel Suarez's Daemon book, proposed DAO in the context of blockchain. The DAO concept was first formally proposed in a smart contract called DAO on the Ethereum blockchain in 2015. The DAO at this time is a smart contract, that is, a technical framework and tool, which is often understood as a self-organization similar to a non-profit organization. With the development and application of blockchain technology, the definition of DAO is more diversified: digital currency, systems/institutions, business models and even unmanned vehicle platforms can all be called DAOs.

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