A Decentralized Autonomous Organization (DAO) is an organizational structure that is run by smart contracts on a blockchain and operates in a decentralized manner without the need for centralized control or management. Here are some key characteristics and features of DAOs: 1. **Decentralization**: Unlike traditional organizations that have a hierarchical structure, DAOs distribute decision-making power among all members, often through a consensus mechanism. This decentralization reduces the risk of corruption or mismanagement.
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