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DAO governance models allow businesses to establish and manage options in a decentralized manner.
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These protocols offer alternative methods that are more democratic and dynamic in nature.
It all began back in 2009 when Satoshi Nakamoto introduced Bitcoin to the world. While the concept of peer-to-peer wasn’t new, the digital asset redefined it. Using blockchain or distributed decentralized ledger, cryptocurrency changed the rules for good. The new technology added a new dimension to data integrity and security.
But like every other technology, blockchain is also ever-evolving. So, in 2013, a Decentralized Autonomous Organization (DAO) was introduced. It worked on the same principle. However, it notched up things to a great extent. In essence, a DAO governance model is handled by users instead of select individuals or an admin.
As the technology advanced, different variants of DAOs also surfaced. To understand the concept and its variations, one
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