On This Episode of the T-Ray Show How Will DAOs Work in Web3 and The Purpose of DAOs on the Blockchain was discussed. Ray explaining how will DAOs fit into Web3. Also, Ray and Tim go over other topics live Decentralized World, FUD, Battle of Crypto Bitcoin vs Ethereum, and Web2 Vs Web3.
Presented By SBU Radio
- DAOs Are the Cornerstone of the Next Generation Digital Infrastructure
- Google Trends
- Battle of Crypto Bitcoin vs Ethereum
- Digital Real Estate
- NFTs are Changing the Demographic Game
- Use Cases For NFTs
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization constructed by rules encoded as a computer program that is often transparent, controlled by the organization’s members and not influenced by a central government, in other words they are member-owned communities without centralized leadership. A DAO’s financial transaction records and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear. DAO governance is coordinated using tokens or NFTs that grant voting powers. Admission to a DAO is limited to people who have a confirmed ownership of these governance tokens in a cryptocurrency wallet, and membership may be exchanged. Governance is conducted through a series of proposals that members vote on through the blockchain, and the possession of more governance tokens often translates to greater voting power. Contributions from members towards the organizational goals of a DAO can sometimes be tracked and internally compensated. Inactive holders of governance tokens can be a major obstacle for DAO governance, which has led to implementations of allowing voting power to be delegated to other parties.