Bitcoin network — A proof of DAO’s appearance
--
Although it is very primitive, Bitcoin network is also seen as the original example of DAO. It runs under the decentralized form and is coordinated by a consensus protocol without the classification among participants.
Bitcoin protocol that defines regulations of organization while bitcoin is the currency that provides a motivation for users to secure the network. This ensures that other participants can work together to keep Bitcoin running as a decentralized autonomous organization.
Bitcoin’s general goal is to store and convert the value without a central entity to coordinate the system. However, not only stopping in the digital cryptocurrency sector, DAO, but also, is used in different goals. More complex DAOs are implemented in different use goals, for example token governance, decentralized adventure investment funds or social media platforms. DAO also can coordinate activities of Internet of Things (IoT) connected devices.
#EF1 #EF1Finance #coin #crosschain #pos #defi #staking #swap #yeildfarming #dapp
