Decentralized Autonomous Organizations (DAOs) encourage teamwork by allowing everyone to participate in discussions.
As you know, blockchains are distributed ledgers protected by cryptography. These are databases that everyone can access but only be updated by the data owners. In DAOs, data is stored in many copies on multiple computers, rather than databases located on a single central server.
DAO can be defined as a business community that controls by the community itself. A DAO has a business structure determined by written smart contracts.
Many products of Byepix contain dApp and DAO mechanisms. Byepix DAO, Developers-DAO Gamers DAO, and Creators DAO are just some of them.
If you want to be a part of Byepix DAO mechanisms, you need to be the holder of the native token (EPIX) of the platform.
What Advantages Do DAOs Have?
• More powerful:
All members around the world can contribute to the project and be a part of the project.
Voting, decisions and other actions can be monitored by anyone.