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What is a DAO? (Decentralized Autonomous Organization)

The Beginner’s Guide


Una organización autónoma descentralizada (DAO) es un software que se ejecuta en una blockchain que ofrece a los usuarios un modelo integrado para la gestión colectiva de su código.

Las DAO difieren de las organizaciones tradicionales administradas por juntas, comités y ejecutivos. En lugar de estar gobernadas por un grupo limitado, las DAO usan un conjunto de reglas escritas en código y aplicadas por la red de computadoras que ejecutan un software compartido.< /p>

Para convertirse en miembro de una DAO, los usuarios primero deben unirse a la DAO comprando su criptomoneda. Mantener el activo generalmente les da a los usuarios el poder de votar sobre propuestas y actualizaciones, proporcional a la cantidad que tienen.

El primer ejemplo exitoso de DAO fue BitShares, una plataforma de comercio electrónico virtual que vincula a comerciantes y clientes sin una autoridad central. En ese momento, Bitshares fue etiquetada como una empresa autónoma descentralizada (DAC), un término acuñado por su fundador, Dan Larimer.

Cabe destacar que el primer DAO creado en la blockchain de Ethereum, llamado The DAO, se vio empañado por la controversia, ya que los piratas informáticos encontraron una deficiencia en el código.


What are DAOs used for?

While DAOs are still in a nascent stage, many DAOs exist today.

Examples of operational DAOs include DASH, a cryptocurrency managed by its users,  MakerDAO, a software that maintains a stablecoin, and Augur, a prediction market platform.

Other use cases include incentivizing users to operate social media platforms, such as Steemit, or shared virtual worlds, such as Decentraland.

How do DAOs Work?


DAOs are intended to mimic a company structure where rules and regulations are built using open-source code and enforced via the use of smart contracts. 

If you’re unfamiliar, smart contracts are agreements programmed to execute if and when certain conditions are met. These rules are generally decided by the DAO stakeholders. 

Unlike traditional organizations, there is no hierarchy in DAOs. Rather, to align interests of the organization with that of its members, DAOs incentivizes a distributed network of users to achieve their goal.

One of the key features of a DAO is the internal capital that is used to incentivize these actors and ensure that the organization runs smoothly. 

Once the original set of rules have been established and programmed into smart contracts, DAOs generally enter a funding phase that anyone wishing to access it can participate in.

Governance

At the end of the funding phase, the DAO is considered live and operational, and all key decisions surrounding the organization are made by users reaching a consensus on proposals. 

By owning and locking cryptocurrencies into a voting contract, users gain the ability to vote on proposals, with the voting weight being proportional to the amount of cryptocurrency locked. 

The proposal is subsequently instated based on the predetermined network consensus rules, and voters are rewarded with additional cryptocurrency for participating.
 

What is decentralized autonomous organization dao

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Useful Resources

Looking to learn what makes Ethereum the top option for building DAOs? Head on over to the “What is Ethereum?” page located in Kraken’s Learn Center for a deeper dive. 

If you are interested in learning more about the consensus mechanisms that power most blockchains today, you can visit Kraken’s “Proof of Work vs Proof of Stake” page.