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Huobi Research Institute Publishes Latest Report on DAO

Huobi Research Institute, the leading blockchain application research organization, published its latest research report on distributed autonomous organizations, or DAOs.

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The report includes comprehensive research on DAOs and will be released in 3 parts. This is the first part of the report, and focuses on DAOs’ definition & history, as well as their classification methods.

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A Distributed Autonomous Organization (DAO) is a form of organization that may be built on blockchain technology. DAOs make decisions in a decentralized environment under shared rules, where tasks are accomplished automatically. The concept was originated by Daniel Larimer and refined by Vitalik Buterin. The development DAOs have undergone extensive ups and downs over the past eight years, including the Introduction Period, Chaos Period, Reconstruction Period, and the current Exploration period.

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Mainstream classification of DAOs includes sorting them into general and specific categories, by blockchain layer structure, by application scenarios , etc. For comparative analysis purposes, we also classify DAOs by their governance frameworks: 1) by coordinating mechanisms, such as off-chain proposals, entry eligibility, proposal prediction markets, 2) by voting mechanisms, such as the widely adopted token-based quorum voting mechanism, execution voting, permissioned relative majority voting, etc.

The upcoming 2nd and 3rd parts will focus on the pros and cons of several examples under certain governance frameworks, their capabilities and limitations, and the future prospects of DAOs.

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