💡What is a DAO?

Precise Information U should Know First

Web-1.0

Web 1.0 is a retronym referring to the first stage of the World Wide Web’s evolution. According to Graham Cormode and Balachander Krishnamurthy, “content creators were few in Web 1.0 with the vast majority of users simply acting as consumers of content.”

Personal web pages were common, consisting mainly of static pages, hosted on Internet Service Provider-running web servers, or on free web hosting services such as Tripod and the now-defunct GeoCities. In summary, it is a one-way road for the flow of information.

Web-2.0

Web 2.0 (also known as participative web and social web) refers to websites that emphasized user-generated content, ease of use, participatory culture and interoperability (i.e., compatibility with other products, systems, and devices) for end users.

A Web 2.0 website allows users to interact and collaborate with each other through social media dialogue as creators of user-generated content in a virtual community. This contrasts the first generation of Web 1.0-era websites where people were limited to viewing content in a passive manner.

Examples of Web 2.0 features include social networking sites or social media sites (e.g., Facebook), blogs, wikis, folksonomies ("tagging" keywords on websites and links), video sharing sites (e.g., YouTube), image sharing sites (e.g., Flickr), hosted services, Web applications ("apps"), collaborative consumption platforms, and mashup applications.

Web-3.0

Web 3.0 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economies. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as "Big Tech".

The term “Web 3.0” was coined by Polkadot founder and Ethereum co-founder Gavin Wood in 2014, referring to a “decentralized online ecosystem based on blockchain.” In 2021, the idea gained popularity. Particular interest spiked toward the end of 2021, largely due to interest from cryptocurrency enthusiasts, high-profile technology companies, and venture capital firms.

The core value for Web 3.0 is to build up a completely democratized Internet. Not any entity can control the information feeds or participants’ accounts. Theoretically, the servers, systems and networks running applications and storing data are owned by users themselves. Each user has voting right for existing principles and how to use these resources.

DAO

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. DAOs aim to be open platforms through which individuals control their identities and their personal data more securely and more efficiently.

DAO governance is coordinated using tokens or NFTs that grant voting powers. Admission to a DAO is limited to people who have a confirmed ownership of these governance tokens in a cryptocurrency wallet, and membership may be exchanged. Governance is conducted through a series of proposals that members vote on through the blockchain, and the possession of more governance tokens often translates to greater voting power. Contributions from members towards the organizational goals of a DAO can sometimes be tracked and internally compensated.

DAO's value for industry

DAO provides new horizon to the industry.

• Enhance identities for community members

People join the DAO for the same purpose, under which identity concept allows the community to support members to do things concentratedly. Like-minded members are more motivated and easily feel sense of achievement.

• Avoid the problem of too much power of some members under centralized environment

All the decisions and actions are voted by each community member, avoiding the problem of centralized decision-making and autarchy of the minority.

• Run organizations more efficiently

Based on blockchain technology, all the principles, the system of duty-right or reward and punishment are transparent and self-running. Through series of highly autonomous protocols, participates can achieve precise benefit according to their contribution, making the whole organization well-ordered.

• Motivate organization members more effectively

Tokens are common currencies in DAO management system, combining human resource and monetary capital, fully satisfying people’s monetized social demands.