Definition ∞ Decentralized Organizations are entities structured without a central governing authority, instead relying on rules encoded in smart contracts on a blockchain. Participants typically govern these structures through token-based voting mechanisms. This distributed control aims to increase transparency and resistance to censorship.
Context ∞ The current state of Decentralized Organizations, often termed DAOs, involves ongoing experimentation with various governance models and operational frameworks. A key debate surrounds their legal status and liability in different jurisdictions. Future developments will focus on enhancing their scalability, security, and real-world applicability while navigating evolving regulatory landscapes.
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