The DAO also says something?Where is the real value of the mine ecology created by StandardChain
The boom in decentralized finance (DeFi) has yet to fade.Over the past decade, Bitcoin has been the only application in the blockchain space that has shown real value.But the advent of DeFi shows us that there are more possibilities for blockchain applications, and for DeFi’s vision a reality, a lot of apps, protocols and platforms have to emerge, like DeFi infrastructure like Uniswap, SushiSwap, UniFi and YAM Finance.At the same time of distributed finance, we also see the organic integration of another concept, that is, DAO.
DAO, what is it?
DAO is an English abbreviation for distributed autonomous organizations, or “Decentralized Autonomous Organization”, sometimes also known as DAC, or “Decentralized Autonomous Corporation”.
DAO is a decentralized autonomous organization, where the whole system remains running through smart contracts, while a series of rules run on the blockchain, realizing the autonomous operation of “code as law”.In early May 2016, a group announced the birth of the DAO, with the DAO also known as the Genesis DAO.It was established as a smart contract on the Ethereum blockchain, the coding framework is open source developed by the Slock.It team, but members of the Ethereum community deployed it under the name “The DAO”.
On this platform, the DAO has a creation period, during which anyone can send Ethereum coins to a unique wallet address in a 1–100 ratio in exchange for a DAO token.The initial phase was an unexpected success, successfully collecting 12.7 million ether coins (worth about $150 million at the time), making it the largest crowdfunding project in history.In the field of blockchain, DAO is mainly technically in the form of intelligent contract, open, transparent, avoid human interference and management, is an organization controlled by code, not under the control of any institution or individual, can automatically evolve and develop, in line with the “code is law” blockchain ideal.
DAO brings people’s good wishes and its difficult development process
Since its birth, DAO echoes traditional finance. On the one hand, it shows us the organic of digital assets in real life, on the other hand, it also makes us understand that we as individuals are feasible to participate in the corresponding digital organizational structure,
DAO is like a grand word with a strong desire for freedom and equality, just like a communist society, “ The land is flat, houses, beautiful land and bamboo.Qian traffic, chickens and dogs.Among them, men and women dress, such as outsiders.The young and young enjoyed themselves.Abandon the evil of human nature, put an end to bullying, paid according to the contribution value, everyone lives and works, all free and equal.The first contact with DAO, subconsciously equated it as a paradise in the online world.no