What is a DAO (ELI5)?
A DAO explained to a 5 year old
A DAO is like a club, but instead of a leader telling everyone what to do, the club is run by a set of rules on the computer. The rules make sure that everyone follows the same plan and the money is used the way everyone agreed on. Like a club, the members of the DAO can vote on important decisions and have control over the club's assets. And like a club, everybody can see what's happening in the club and nobody can cheat or change the rules without everyone knowing.
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