What is DAO?
DAO Development enables the organisation to run according to the community, and not any foremost authority. DAOs make use of smart contracts to establish the underlying laws and carry out the chosen course of action. At any time, proposals, votes, and even the code itself may be openly reviewed by the members of the community.
What are some benefits of DAO Development?
DAO is a concept which brings together the best of blockchain. Being Open Source and Trustless, DAO offers complete transparency to its users.
- DAO is an entirely open-source platform. Meaning that anyone is welcome to participate in its development and give insights into the platform’s improvement. DAO is available to developers from all around the world because it’s dependable being an open source system.
- Another benefit of DAO Development is that you do not need any person of authority to make decisions for you. DAO is called trustless because it is based on the network’s collective interests since it is not based on any one person. In case, an essential member of the developing team quits working or there’s an issue with the funding, the DAO organization would have no major impact on itself.