The Ethereum Vienna Meetup takes place this month at the Blockchain Lab at Coded Cultures and will focus on the DAO and what it does.
After many months geth 1.4 has finally been released. Meanwhile the DAO has become the next big hyped project in the ethereum space, having raised the equivalent of over 50 million dollars so far.
The DAO is a Decentralized Autonomous Organization. It is owned by its dao token holders with the initial distribution being determined by the still ongoing sale. It has no central management and is solely controlled by voting of its token holders. Those can then vote on proposals submitted to the DAO and invest ether into those proposals. A part of the revenue of successful projects is then paid to the DAO and distributed to the token holders.
The DAO was created by slock.it, who will submit their proposal for funding once the crowdsale has ended.
In this presentation we’ll look amongst other things into:
• What is the DAO? • How does it work • What risks are involved? • Who owns the tokens?