Role of smart contracts in DAO Blockchain Development

submitted 2 years ago by defidevelopmentservices to cryptocurrency

A DAO is an organization whose decisions are made without the involvement of any individual or committee. There are two ways that decentralized decisions and actions are made: through the algorithmic function of smart contracts that are incorporated into the organization's corporate structure, or through votes cast on the blockchain by members or owners who hold governance rights in the company. It is not difficult to imagine a smart contract that would enable the DAO to pay its owners dividends or pay vendors or employees without the need for human interaction. Therefore, the involvement of smart contracts in DAO blockchain development helps in making the system more secure and efficient than ever before.

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