What is Decentralized Autonomous Organization (DAO)

Test Your Knowledge

A. An organization that operates autonomously through the use of smart contracts on a blockchain.

B. An organization controlled by a central authority.

C. A traditional company that uses blockchain for financial transactions.

A. By a central authority that makes all decisions.

B. By token holders who vote on proposals.

C. By a board of directors elected annually.

A. They store all the tokens used in the DAO.

B. They automate processes and enforce rules without intermediaries.

C. They create new tokens for the DAO.