Difference between revisions of "DAO"

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[[File:DAO.png|150px|thumb]]
 
[[File:DAO.png|150px|thumb]]
  
'''DAO''' (Decentralized Autonomous Organization) first created on the Ethereum platform as a digital organization and a form of venture capital fund.
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'''DAO''' (Decentralized Autonomous Organization) was firstly created on Ethereum platform as a digital organization and a form of venture capital fund.
  
DAO is not attached to any particular place in space, state or people who could conduct the usual company management.
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DAO is not attached to any particular place in space, state or people, who could conduct the usual company management.
  
 
As a result, the question of regulatory authorities and their interaction with a stateless company is still open.
 
As a result, the question of regulatory authorities and their interaction with a stateless company is still open.
  
== History ==
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==History==
In 2016 '''Ethereum DAO''' was one of the first and largest projects of its kind in the history of cryptocurrencies rising 150 million dollars in investment. In the case of Ethereum, DAO's reputation was tarnished by the row realization of smart contracts. Hackers have used the vulnerability in the DAO code and have transferred one-third of DAO funds on their account. The Ethereum community decided to restore the funds, which led to a fork that start up a new [[blockchain]]- ETC.
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In 2016 '''Ethereum DAO''' was one of the first and largest projects of its kind in the history of cryptocurrencies, rising 150 million dollars in investment. In case of Ethereum, DAO's reputation was tarnished by the row realization of smart contracts. Hackers have used the vulnerability in the DAO code and have transferred one-third of DAO funds to their accounts. Ethereum community decided to restore the funds, which led to a fork that created a new [[blockchain]]- ETC.
  
== How DAO works ==
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==How DAO works==
The '''DAO idea''' - the rules by which the company operates are migrated to code and digital form.
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The '''DAO idea''' is that the company operational rules are migrated to code and digital form.
  
Decisions are made by shareholders, nodes or network members who control a certain number of tokens or smart contracts. The share in the project gives the right to vote according to the weight of the member's share.
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Decisions are made by shareholders, nodes or network members, who control a certain number of tokens or smart contracts. Project share gives the right to vote according to the member's share weight.
  
Pre-programmed rules describe what will happen in the system in one way or another depending on the decision of the shareholders. The use of such infrastructure is almost unlimited in scale and application areas.
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Pre-programmed rules describe, what will happen in the system due to one or another shareholders decision. The use of such infrastructure is almost unlimited in scale and application areas.
== Task Frame ==
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==Task Frame==
As a new form of human organization, the '''DAO''' is only gathering its potential, many opportunities and examples of how to use the full power of a decentralized organization are still ahead.
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As a new form of human organization, the '''DAO''' is only gathering its potential. Many opportunities and examples of how to use the full power of a decentralized organization are still ahead.
  
Today, DAO members focus on projects related to resource sharing economics (Sharing), IoT applications and blockchain.
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Today, DAO members focuses on projects, related to resource sharing economics (Sharing), IoT applications and blockchain.
  
Examples of DAO projects: [https://en.wikipedia.org/wiki/The_DAO_(organization) The DAO Company] (Ethereum), [https://en.wikipedia.org/wiki/The_DAO_(organization) The DAO Company] (Ethereum), [https://digix.global/ Digix.global] (DGX) and [[cryptocurrency]] [https://www.dash.org/ Dash].
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Examples of DAO projects are [https://en.wikipedia.org/wiki/The_DAO_(organization) The DAO Company] (Ethereum), [https://en.wikipedia.org/wiki/The_DAO_(organization) The DAO Company] (Ethereum), [https://digix.global/ Digix.global] (DGX) and [[cryptocurrency]] [https://www.dash.org/ Dash].
  
== Minter DAO ==
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==Minter DAO==
[https://minter.org Minter DAO] has already been created and is constantly funding with 10% from [[Transaction fees at Minter|all fees]] and [[blocks rewards|rewards]] in the Minter Network.
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[https://minter.org Minter DAO] has already been created and is constantly funding with 10% from [[Minter transaction fees|all fees]] and [[Block reward|rewards]] in Minter Network. Minter Development Foundation, an American company representing the interests of the Minter network and the DAO, may be the first experience of adapting autonomous companies to today's realities.
The Minter Development Foundation, an American company representing the interests of the Minter network and the DAO, maybe the first experience of adapting autonomous companies to today's realities.
 
  
 
The name of the company is the '''Minter Development Foundation'''.
 
The name of the company is the '''Minter Development Foundation'''.
  
Legal address: 548 Market St #32852, San Francisco, California 94104-5401.
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Legal address is  548 Market St #32852, San Francisco, California 94104-5401.
 
 
 
 
  
 
[[Category:Terms]]
 
[[Category:Terms]]

Revision as of 23:52, 12 October 2019

DAO.png

DAO (Decentralized Autonomous Organization) was firstly created on Ethereum platform as a digital organization and a form of venture capital fund.

DAO is not attached to any particular place in space, state or people, who could conduct the usual company management.

As a result, the question of regulatory authorities and their interaction with a stateless company is still open.

History

In 2016 Ethereum DAO was one of the first and largest projects of its kind in the history of cryptocurrencies, rising 150 million dollars in investment. In case of Ethereum, DAO's reputation was tarnished by the row realization of smart contracts. Hackers have used the vulnerability in the DAO code and have transferred one-third of DAO funds to their accounts. Ethereum community decided to restore the funds, which led to a fork that created a new blockchain- ETC.

How DAO works

The DAO idea is that the company operational rules are migrated to code and digital form.

Decisions are made by shareholders, nodes or network members, who control a certain number of tokens or smart contracts. Project share gives the right to vote according to the member's share weight.

Pre-programmed rules describe, what will happen in the system due to one or another shareholders decision. The use of such infrastructure is almost unlimited in scale and application areas.

Task Frame

As a new form of human organization, the DAO is only gathering its potential. Many opportunities and examples of how to use the full power of a decentralized organization are still ahead.

Today, DAO members focuses on projects, related to resource sharing economics (Sharing), IoT applications and blockchain.

Examples of DAO projects are The DAO Company (Ethereum), The DAO Company (Ethereum), Digix.global (DGX) and cryptocurrency Dash.

Minter DAO

Minter DAO has already been created and is constantly funding with 10% from all fees and rewards in Minter Network. Minter Development Foundation, an American company representing the interests of the Minter network and the DAO, may be the first experience of adapting autonomous companies to today's realities.

The name of the company is the Minter Development Foundation.

Legal address is 548 Market St #32852, San Francisco, California 94104-5401.