⁣A DAO is a decentralized autonomous organization that cooperates according to rules encoded on the Ethereum Blockchain.
DAO is decentralized, they are not subject to the control of any single entity. This makes them more resistant to hacking and
corruption.
The rules of a DAO are encoded in its smart contracts. These rules determine how the DAO interacts with
the outside world and how its internal affairs are managed.
For example, a DAO may have rules that govern how new members can join, how decisions are made, and how funds are spent.
DAO is open source, and anyone can create one.
However, creating a DAO is not a simple task.
It requires a deep understanding of the
Ethereum Blockchain and Solidity, the programming language used to write smart contracts.
A DAO cooperates according to rules encoded on the Ethereum blockchain.
Because DAOs are decentralized, they are not subject to the control of any single entity.
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