Knowing About DAO And Its Ongoing Impact

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If you are abreast of Blockchain crypto news, then you must be knowing the fact about DAO (Decentralized autonomous organization). It is the most successful concept that came through blockchain technology. The encoding of all financial transactions takes place in this technology. Like cryptocurrencies, it eliminates the role of central authorities like government. Hence it is decentralized as well as an autonomous concept. It functions via smart contracts. Today, we will be knowing about DAO and will also know about its ongoing impact.

DAO benefits investors with access and much control and the absence of central authority minimal costs. If you are not in touch with the latest news on Ethereum, then let us date you back in the year 2016, when the inception of the DAO, also termed as Genesis DAO, was announced by some members of the Ethereum community. The development open-source of the coding framework was done by the Slock.it, but the team was deployed under Ethereum community members under the name of DAO.