The Reserve Vault (ORV) is being upgraded to act as a Decentralized Autonomous Organization, (DAO), and what that means is that Ormeus will hard-code certain rules that the company will adhere to and cannot be changed once deployed to the Ethereum Blockchain, i.e., setting aside a certain percentage of vault earnings. These are called Smart Contracts.
What is a DAO and why is it beneficial?
Modified on: Tue, Jul 17, 2018 at 2:02 AM
Did you find it helpful? Yes No
Send feedbackSorry we couldn't be helpful. Help us improve this article with your feedback.