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Ok, here’s a story about #DAOs, their evolution, and their on-chain/off-chain nature.
Back in 2014, @VitalikButerin wrote what is essentially Ethereum’s original position paper on this subject, the famous DAO/DAC post on ethereum.org.
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Back in 2014, @VitalikButerin wrote what is essentially Ethereum’s original position paper on this subject, the famous DAO/DAC post on ethereum.org.
👇👇
DAOs were quite abstract concepts back then, there were no such things in production.
There was also a sense that DAOs were something new, a revolutionary species of digital organization. And that they didn’t exist before because it was *smart contracts* that enabled them.
There was also a sense that DAOs were something new, a revolutionary species of digital organization. And that they didn’t exist before because it was *smart contracts* that enabled them.
It should be no surprise, then, that the first DAOs put a heavy emphasis on codifying their functionality on-chain, within smart contract logic.
github.com/TheDAO
github.com/TheDAO
