Is Bitcoin a DAO (Decentralized Autonomous Organization)?

Asked 3 years ago

Hey there, I'm fairly new to the world of decentralized finance. I was doing research on ethereum and bitcoin and while I know ethereum is a DAO, I was left wondering if bitcoin is as well? Thanks in advance.

Decentralized autonomous organization (dao)Bitcoin

Clifton Morris

Wednesday, February 16, 2022

In its simplest form, a DAO is simply a digital organization that functions and scales through community-based decisions. Bitcoin could be seen as one of the earliest examples of a DAO since its participants had to reach a consensus for changes and upgrades to its blockchain network. However, DAOs have evolved beyond this basic function to include a governance mechanism, staking features, and a treasury. Bitcoin and Ethereum have none of these additional components. Therefore, we cannot consider them DAOs by today's criteria. 