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DeFi, dApps and DAOs: The Key Differences
DAOs, DACs, DAs and More: An Incomplete Terminology Guide | Ethereum Foundation Blog
blog.ethereum.orgblog.ethereum.org
A decentralized application is similar to a smart contract, but different in two key ways. First of all, a decentralized application has an unbounded number of participants on all sides of the market. Second, a decentralized application need not be necessarily financial. Because of this second requirement, decentralized applications are actually so... See more
blog.ethereum.org • DAOs, DACs, DAs and More: An Incomplete Terminology Guide | Ethereum Foundation Blog
DeFi protocols organize themselves as Decentralized Autonomous Organizations (DAOs), organizations governed by smart contracts on the blockchain. DAOs allow groups of people to cooperate without centralized management and coordinate around a shared set of rules to achieve a common mission.
Sze Jin Teh • How to DeFi: Beginner
Decentralized governance is at the heart of the ideological foundation of crypto: equal participation for all actors. The playbook of progressive decentralization is being followed by more decentralized finance (DeFi) projects. Users and tokenholders can now have more control over protocol parameters, treasury spending, and, in general, the industr... See more
Sam McCarthy • Cryptociety | Sam McCarthy | Substack
More simply, DAOs are a new way to finance projects, govern communities, and share value. Instead of a top-down hierarchical structure, they use Web3 technology and rapidly evolving governance and incentive systems to distribute decision-making authority and financial rewards. Typically, they do that by issuing tokens based on participation, contri... See more