Smart contracts

A smart contract is a computer program that controls the transfer of assets to different parties. It defines the rules and penalties of the agreement. They can be used for a number of things such as token creation, decentralized autonomous organizations, crowdsales and more.

DAO

A decentralized autonomous organization (DAO) is a type of smart contract that acts like a business or organization. Token owners are like voting members. They can make proposals on what to do with funds, add/ remove members, propose new rules or change old ones and more.