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I clicked, read the webpage, went back to HN for an explanation in the comments. Unfortunately there just other human beings as confused as I am. So I googled
by ddxv 10y ago
I clicked, read the webpage, went back to HN for an explanation in the comments. Unfortunately there just other human beings as confused as I am.
So I googled it and found this:
“decentralized autonomous organizations” (DAOs)
https://blog.ethereum.org/2014/05/06/daos-dacs-das-and-more-an-incomplete-terminology-guide/ https://blog.ethereum.org/2014/05/06/daos-dacs-das-and-more-...
The way I understand it, it is for building an organization that is somehow "autonomous" and decentralized. I put the autonomous in quotes because I am still not sure what that means, though I understand the decentralized part.
Two other descriptions, from slightly skeptical observers, were:
Decentralized Corporation
Decentralized Venture Capital
- a3camero 10y agoAlthough intended as a critique, a blog post I wrote earlier this week might help explain some of it: http://www.cameronhuff.com/blog/slock-it-dao-paper/index.html http://www.cameronhuff.com/blog/slock-it-dao-paper/index.htm.... And the original proposal for "The DAO" can be found here: https://download.slock.it/public/DAO/WhitePaper.pdf https://download.slock.it/public/DAO/WhitePaper.pdf.
- killerstorm 10y agoAutonomous means that it is able to act on its own. E.g. suppose that at some point organization members decide that it should pay do monthly payments to some address to pay for certain work. A DAO noted this decision and started to execute it. At a later point members might change their mind, they no longer want this payments to be made. But DAO will keep making them if there is no way for members to cancel this execution. Thus DAO members do not have a complete control over the thing. It is autonomous.
- greenrd 10y agoThat's a hypothetical though, I'm guessing. Does The DAO actually use uncancellable payments, and if so, what for?