TLDR:The Decentralized Autonomous Organization (known as The DAO) was meant to operate like a venture capital fund for the crypto and decentralized space. The lack of a centralized authority reduced costs and in theory provides more control and access to the investors.The DAO was hacked for US$150M worth of cryptocurrency in 2016 due to a loophole in the smart contract. This was eventually resolved by a hard fork. It was eventually delisted from cryptocurrency exchanges like Poloniex and Krak...