The DAO is also known as the digital decentralized autonomous organization (DAO). The DAO served as a form of investor-directed venture capital fund that sought to provide enterprise with new decentralized business models. Built on the Ethereum blockchain, the DAO’s code was open source. The organization set the record for most crowdfunded project in 2016, however, those funds were partially stolen by hackers cause an Ethereum hard-fork that created Ethereum Classic.

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