{"id":413107,"date":"2022-03-07T22:15:00","date_gmt":"2022-03-07T19:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cryptopedia-learn-the-basics-of-daos-and-how-they-work\/"},"modified":"2022-03-07T22:15:00","modified_gmt":"2022-03-07T19:15:00","slug":"cryptopedia-learn-the-basics-of-daos-and-how-they-work","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cryptopedia-learn-the-basics-of-daos-and-how-they-work\/","title":{"rendered":"# Cryptopedia: Learn the basics of DAOs and how they work"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f5baf3e4f2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f5baf3e4f2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cryptopedia-learn-the-basics-of-daos-and-how-they-work\/#%E2%80%9D_Cryptopedia_Learn_the_basics_of_DAOs_and_how_they_work_%E2%80%9C\" >&#8221; Cryptopedia: Learn the basics of DAOs and how they work  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Cryptopedia_Learn_the_basics_of_DAOs_and_how_they_work_%E2%80%9C\"><\/span>&#8221; Cryptopedia: Learn the basics of DAOs and how they work  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZGRiOGQxNDUtMTNhMi00MjEzLTg5ZTEtNDhlM2YxZjIxYjY4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>In the latest Cryptopedia episode, viewers can get a succinct and informative overview of decentralized autonomous organizations, or DAOs. Cointelegraph&#8217;s Jackson DuMont believes DAOs have the power to &#8220;completely transform how work and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> collaboration are organized.&#8221;<\/p>\n<p><iframe loading=\"lazy\" title=\"What is a DAO? All you need to know about decentralized autonomous organizations | Cryptopedia\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/ISSGwL7P9cc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>What makes this type of organization both decentralized and autonomous? The answer is smart contracts on the blockchain. Fundamentally, a DAO runs on the lines of computer code written on smart contracts that anyone can interacted with in the same way.<\/p>\n<p>DuMont described the three major steps necessary to launch a DAO. The first step is creating that smart contract. The second step is to determine how to receive funding and enact governance, usually done by creating a token. Lastly, the DAO is deployed on the blockchain.<\/p>\n<p>The most popular use case of a DAO is crowdfunding.\u00a0The money pooled together is put into a smart contract that, in return, issues tokens to DAO members. Tokenholders, who own equity in the DAO, can then vote on how spend the money and vote to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>oint delegates.\u00a0<\/p>\n<p>In the case of ConstitutionDAO, members raised just over $49 million to buy an original copy of the U.S. Constitution but were outbid at auction. Another example is Blockbuster DAO, which aims to raise enough money to buy the video rental brand from Dish Network and turn it into a streaming film studio.<\/p>\n<p>DAOs intend to reduce the risk of poor leadership through horizontal leadership, or flat hierarchies that level out the playing field of power.\u00a0The reach is infinite and no matter where a member is located, everyone is bound by the same rules of the smart contract. Trust is placed in code rather than people.\u00a0<\/p>\n<p><strong><em>Related:\u00a0<\/em><\/strong><strong><em>$53 million raised for Assange showed the power of DAOs<\/em><\/strong><\/p>\n<p>Of course, there remain risks and concerns over legality and security. One notable example of a DAO gone wrong is The DAO, which was hacked for $50 million in 2016. A recent report claims to reveal the identity of the alleged hacker.\u00a0<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/cryptopedia-learn-the-basics-of-daos-and-how-they-work\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Cryptopedia: Learn the basics of DAOs and how they work &#8220; In the latest Cryptopedia episode, viewers can get a succinct and informative overview of decentralized autonomous organizations, or DAOs. Cointelegraph&#8217;s Jackson DuMont believes DAOs have the power to &#8220;completely transform how work and social collaboration are organized.&#8221; What makes this type of organization&#8230;<\/p>\n","protected":false},"author":1,"featured_media":413108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZGRiOGQxNDUtMTNhMi00MjEzLTg5ZTEtNDhlM2YxZjIxYjY4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75186,57111,70588,49],"class_list":["post-413107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-dao","tag-explained","tag-video","tag-youtube"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/413107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=413107"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/413107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/413108"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=413107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=413107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=413107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}