Know the Decentralized Autonomous Organization (DAO) That Will Be Applied To TAU Coin
Improvements to the newer TAU coin version continue to be made by the team so that the TAU coins make it easier for users and resolve problems encountered previously. There is something interesting about the TAU version plan that will be released, namely the idea of implementing a DAO (Decentralized Autonomous Organization) system.
In order to be able to see or predict how the latest version of TAU coins going forward, it is better if we know DAO (Decentralized Autonomous Organization) itself. Indeed the concept of DAO is not new but the introduction of DAO will facilitate understanding of the TAU coins later.
DAO is a company or organization run by a system contained in a computer program, all decisions are controlled by shareholders not the central government, founded by Mike Hearn, the idea behind DAO is to establish an organization or company that fully functions without hierarchical management. Overall, DAO is no different from companies in general, a fundamental difference is that general company regulations do not apply digitally.
Bitcoin is referred to as the first fully functional DAO based, because it has a set of pre-programmed rules, Bitcoin functions autonomously and is also coordinated through a consensus protocol. After that, the use of smart contracts will be activated on the Ethereum platform, which brings the creation of DAO closer to the public.
But what does DAO really need in order to work well? First, a rule will be programmed based on how DAO will work. These rules will be changed into smart contracts, which are basically computer programs, which work independently on the internet, but at the same time require people to do tasks that they cannot do alone.
After the rules have been determined, DAO enters the funding phase. This is very important for two reasons. First the DAO must have an internal property, a token that will be used by the organization or be a gift for certain activities in it. Second, by investing in DAO, users get voting rights and play a role in making DAO the way they want.
After the funding period is complete and the DAO can be carried out, then the DAO will become fully autonomous and independent of its maker. DAO is open source, which means the code can be seen by anyone. In addition, all financial rules and transactions are recorded in the Blockchain. This makes DAO fully transparent, cannot be corrupted and cannot be deleted.
So after the brief explanation above, hopefully there is already a shadow of the TAU coin community and also for those who are interested in using TAU coins if the DAO concept is applied to TAU coins.
More information about TAU coin can be found at this website: taucoin.io
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TAU is a crypto coin to grow your wealth. It is easy to mine in mobile phones, super fast and secure without inflation.