DAO is on the way — Catcoin
As you are hopefully aware our DAO is almost complete. The Core team announced a couple of days back that we would have the launch shortly.
There has been a minor delay, however we will definitely have the DAO this month and more over, the team are now testing on MainNet having moved on from TestNet.
I hope you share my excitement for this functionality and will join us in voting on significant project moves once we go live.
Thank you all of your patience.
What DAO means
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization constructed by rules encoded as a computer program that is often transparent, controlled by the organization’s members and not influenced by a central government. In general terms, DAOs are member-owned communities without centralized leadership.A DAO’s financial transaction records and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.A well-known example, intended for venture capital funding, was The DAO, which amassed 3.6 million ether (ETH) — Ethereum’s mining reward — then worth more than US$70 million in May 2016, and was hacked and drained of US$50 million in cryptocurrency weeks later. The hack was reversed in the following weeks, and the money restored, via a hard fork of the Ethereum blockchain. Most Ethereum miners and clients switched to the new fork while the original chain became Ethereum Classic. (source)
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