DAOs, DACs, DAs and More: An Incomplete Terminology Guide | Ethereum Foundation Blog

Based on Vitalik Buterin’s DAOs, DACs, DAs and More: An Incomplete Terminology Guide from 2014, a DAO could be described then as a capitalized organization in which a software protocol informs its operation, placing automation at its center and humans at its edges. For example, a software protocol could specify the conditions upon which an organiza... See more

“A” DAO? What’s that? Why is it better?DAO stands for a Decentralized Autonomous Organization. Some people like to also refer to it as Digital Autonomous Organization, but I prefer the former.They are virtual organizations. In the real world, you have organizations or companies right? And these companies have Shareholders and a Board of Directors. ... See more

The term “DAO” is applied to so many different organizations that it has become close to meaningless. Whatever DAOs are, they must fall under 3 clear and distinct concepts: 1) be decentralised, 2) be organisations and 3) be autonomous.

One mechanism to coalesce a nexus of smart contracts is a Decentralized Autonomous Organization (DAO). You can think of it like a shared treasury among the members, with hard coded rules that govern how funds can be disbursed. DAOs can be used for any number of collective pursuits, much like an LLC can be formed to pool resources for any number of ... See more

“DAO” in its purest form refers to an unincorporated association of persons using censorship-resistant technologies to permissionlessly engage in non-hierarchical governance of shared resources and goals. Organizations that do not meet this definition must not be deemed DAOs.