A Decentralized Autonomous Organization — a group run by its members through voting, with rules enforced automatically by code instead of a CEO or board.
Think of it like a club where every member gets a vote on every decision, and the rules are baked into the club charter so no one can override them.
DAOs let communities collectively manage projects and treasuries, giving regular users a real say in how a platform is run.
Watch out for DAOs where a small group holds most of the voting power — it can look democratic but actually be controlled by insiders.
A program stored on a blockchain that automatically executes an agreement when specific conditions are met, without needing a middleman.
Decentralized Finance — financial services like lending, borrowing, and earning interest, built on blockchain and available to anyone without needing a bank.
Locking up your crypto to help run a blockchain network, and earning rewards in return — similar to earning interest at a bank.
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