The DAO is a decentralized autonomous organization built on the Ethereum blockchain. It was created to enable collective decision-making and funding for projects through smart contracts. Members can propose and vote on initiatives, allowing for a democratic approach to managing resources. Launched in 2016, The DAO raised over $150 million in Ether through crowdfunding. However, it faced significant challenges when a vulnerability in its code was exploited, leading to a controversial decision to reverse the transactions. This incident highlighted the importance of security in blockchain technology and sparked discussions about governance in decentralized systems.