DYOR Crypto Wiki
Tag: Visual edit
Tag: Visual edit
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* Ethereum Token Project to be a [[Decentralised Autonomous Organisation (DAO)|Decentralised Autonomous Organisation]]. Had a huge [[ICO]].
 
* Ethereum Token Project to be a [[Decentralised Autonomous Organisation (DAO)|Decentralised Autonomous Organisation]]. Had a huge [[ICO]].
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* ''"The now infamous DAO [https://medium.com/coinmonks/breaking-down-buterin-hitzig-and-weyls-liberal-radicalism-paper-ba5192248b2 was essentially] a [[decentralised]] crowdfunding organisation which aggregated pledged [[ETH]] into a pool. Investors were then able to vote, proportional to their DAO [[token]] holdings, on which projects they wanted the DAO to fund."''
 
* In essence, the platform would allow anyone with a project to pitch their idea to the community and potentially receive funding from The DAO. Anyone with DAO tokens could vote on plans, and would then receive rewards if the projects turned a profit. With the financing in place, things were looking up.
 
* In essence, the platform would allow anyone with a project to pitch their idea to the community and potentially receive funding from The DAO. Anyone with DAO tokens could vote on plans, and would then receive rewards if the projects turned a profit. With the financing in place, things were looking up.
 
* Stopped after exploit of the contract, also known as The DAO Hack. This hack led to the split between [[Ethereum (ETH)|Ethereum]] and [[Ethereum Classic (ETC)|Ethereum Classic.]]
 
* Stopped after exploit of the contract, also known as The DAO Hack. This hack led to the split between [[Ethereum (ETH)|Ethereum]] and [[Ethereum Classic (ETC)|Ethereum Classic.]]

Revision as of 16:10, 5 November 2019

  • Ethereum Token Project to be a Decentralised Autonomous Organisation. Had a huge ICO.
  • "The now infamous DAO was essentially a decentralised crowdfunding organisation which aggregated pledged ETH into a pool. Investors were then able to vote, proportional to their DAO token holdings, on which projects they wanted the DAO to fund."
  • In essence, the platform would allow anyone with a project to pitch their idea to the community and potentially receive funding from The DAO. Anyone with DAO tokens could vote on plans, and would then receive rewards if the projects turned a profit. With the financing in place, things were looking up.
  • Stopped after exploit of the contract, also known as The DAO Hack. This hack led to the split between Ethereum and Ethereum Classic.
  • For an explanation of this whole episode go here
  • Butterin, Vitalik; signatory
  • Jentzsch, Christoph; wrote the code
  • Rapp, Timon; signatory
  • Tual, Stephan
  • Emin Gun Sirer; Helped to expose multiple flaws on the DAO, before the hack.