The Beginner’s Guide to DAOs

What It Is, How It Works, and Why You Should Care

9/11/20242 min read

Welcome to the exciting world of DAOs—Decentralized Autonomous Organizations. Whether you're new to blockchain technology or just curious about what DAOs are and how they work, you've come to the right place!

DAOs are shaking up industries, reshaping governance, and empowering communities globally. Here’s everything you need to know to get started.

What is a DAO?

A DAO is a digital organization run by code instead of people, where all decisions are made collectively by members through blockchain-based voting systems. It’s transparent, decentralized, and doesn’t rely on any central authority. In simple terms, DAOs allow a group of people to govern a project or organization without the need for traditional hierarchies.

How Does It Work?

DAOs operate using smart contracts, which are self-executing contracts coded on a blockchain. These contracts enforce the rules and carry out agreed-upon actions automatically when certain conditions are met.

Here’s a quick breakdown of how DAOs function:

Decentralized: No one person or group has control—everyone who holds tokens (members) can vote.
Transparent: All transactions and rules are visible on the blockchain.
Autonomous: Decisions are executed automatically based on the agreed rules and votes.

Why Should You Care?

DAOs are changing the way we think about governance and collaboration. Here’s why they matter:

Community Empowerment: You have a real say in decision-making.
Transparency: No hidden agendas, everything is visible on the blockchain.
Flexibility: DAOs can be applied to businesses, nonprofits, social movements, and more.
Global Collaboration: DAOs can connect people from around the world, removing barriers to entry.

Want to Learn More? Join Us at the DextForce Festival!

If you’re ready to dive deeper into the world of DAOs, don’t miss The Future of DAOs roundtable at the DextForce Festival on October 4th, 12:30 PM. One of the co-speakers is Tiffani Byrd, from Gettone.io, along with special guests from Event Horizon.

Here are the event details:

Event: The Future of DAOs at DextForce Festival
Date: October 4th, 12:30 PM
Speakers: Tiffani Byrd (Gettone.io) & Paris Dufreyer (Women in Blockchain Talks), Christian Gonzales (Event Horizon)
Location: DextForce Festival, La Llotja De Mar, Barcelona Spain
Tickets: Buy Tickets Here

Come join us and discover the future of decentralized governance and how you can get involved in this rapidly evolving space!