Re:The Next Big Thing in Crypto Is DAOs
by Flicflac on Tuesday February 01, 2022 @01:24PM
(#30166832)
hey HN, original writer here, just saying hi!
Two main takeaways from this article:
1) Before starting a DAO, always compare it to its web2 version. Example: before you start a crowdfund DAO, why wouldn't a web2 GoFundMe work just as well?
2) A DAO is only as strong as decentralized as its most centralized link. If treasury management or voting isn't decentralized, the organization can be co-opted by bad actors. If a DAO is ruled by a multi-sig wallet, what's stopping the voters from colluding with each other to steal the funds?
If you liked this article or wanna talk crypto more, DM's always open at twitter.com/_michaellin . Cheers!
Two main takeaways from this article:
1) Before starting a DAO, always compare it to its web2 version. Example: before you start a crowdfund DAO, why wouldn't a web2 GoFundMe work just as well?
2) A DAO is only as strong as decentralized as its most centralized link. If treasury management or voting isn't decentralized, the organization can be co-opted by bad actors. If a DAO is ruled by a multi-sig wallet, what's stopping the voters from colluding with each other to steal the funds?
If you liked this article or wanna talk crypto more, DM's always open at twitter.com/_michaellin . Cheers!