What are Cross-Chain DAOs? – A simple Guide
The rise of Decentralized Autonomous Organizations (DAOs) has been nothing short of revolutionary. DAOs are essentially self-governing entities that run on smart contracts, making decisions collectively without the need for a central authority. However, as blockchain networks continue to multiply, a new challenge arises: how can DAOs operate seamlessly across multiple blockchains? The answer lies in cross-chain DAOs and interoperability solutions like Polkadot and Cosmos. What are Cross-Chain DAOs? Cross-Chain DAOs, which stands for Cross-Chain Decentralized Autonomous Organizations, are like smart groups on the internet of blockchains. They can easily work on many different blockchains at once. These groups use special tools to connect these separate blockchains, so they can talk to each other, share information, and trade things like digital money without any trouble. This makes it easier to move digital stuff between different blockchains, helps them grow bigger and safer, and