What the heck is a DAO? How to make one?

How do Smart Contracts come into the picture with Organizations?

Currently, we live in a centralised world where there is a hierarchy of power. There is a boss, then there are some managers and then there are employees at the end. This system is there throughout every organisation in the world, governments, companies etc.

Centralized Organization
  1. Its run by Humans, so corruption is always a certainty.
  2. Not everyone gets a say in big decisions.
  3. Transparency is rare.
  4. A huge amount of faith and trust is required in the system, which often leads to disappointment.
  1. Incorruptibility ( as the decisions are executed by the code of the smart contract and not a person )
  2. Decentralized ( everyone gets to have a say in the decision)
  3. Transparency ( every transaction gets logged on the chain )
  4. Trustless System ( Who needs Humans when you have code ? 😎)

So how does a basic DAO function?

From a high-level overview: A smart contract takes care of the complete functioning of the organization. The members of the DAO can pitch their proposals, these proposals get stored in the contract.

Decentralized Autonomous Organization

Enough with the details of how DAOs work, tell me how to make one? Do I have to code one myself?

One doesn’t need to be a coder to make a DAO. Here is where Squads comes in. Squads allow you to create a fully functional DAO within a few minutes. It deploys the Smart Contract on Solana Blockchain. Solana is the fastest Layer 1 blockchain which allows fast and cheap transactions. Its high throughput capabilities make it one of the best blockchain ecosystems to build your DAO upon.

  1. Create your DAO in minutes.
  2. Easy interface for proposals and voting.

Let’s create a DAO, shall we?

  1. Head on to https://app.squads.so/ .

What next?

Grow your DAO, get members, pitch in some funds and buy more virtual monkeys !!

  1. What are Smart Contracts?
  2. What’s a DAO?
  3. Squads

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Harsh Ghodkar

Harsh Ghodkar

Coding Enthusiast | Machine Learning | Competitive Coder | Data Analyst | Full time Transponster