Gnosis

What is Gnosis?

Gnosis (GNO) is a decentralized infrastructure builder on the Ethereum platform. From its inception in 2015, Gnosis has been dedicated to fostering experimentation and constructing decentralized infrastructure to serve the Ethereum ecosystem. Initially, Gnosis focused on creating prediction markets to facilitate global access to reliable information. However, during the development of the prediction market platform, it became evident that Gnosis needed to establish the necessary infrastructure to ensure its success. This need led to the birth of Gnosis Safe.

As a decentralized autonomous organization (DAO), Gnosis operates by providing essential infrastructure for various decentralized applications (dApps) while also developing products that transparently guide decisions concerning the development, support, and governance of its ecosystem.

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Recent Video Interview

Main points of the interview:

• Integration of AI with blockchain for autonomous agents.
• Exploration of account abstraction for AI interactions.
• Future project "Gnosis Pay" aims for decentralized payments with Visa card integration.
• Gnosis focuses on decentralization to ensure platform longevity and user freedom.

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How Does Gnosis Work?

Gnosis provides three main products for GNO users, each utilizing distinct layers to ensure a seamless user experience:

• The Gnosis Core Layer serves as the foundation for the Gnosis platform, offering essential smart contracts.
• The Gnosis Service Layer caters to consumer applications and provides resources for tools like chatbots and stable coins.
• The Gnosis Applications Layer comprises primarily front-end tools that target specific prediction markets or customer segments. Some applications are developed by Gnosis, while others are created by third-party developers.

One of Gnosis' prominent offerings is the Apollo Network, a prediction market. Within this network, users can create markets for various events, allowing participants to buy and sell positions to speculate on the outcomes. As time progresses and related events unfold, the value of tokens corresponding to certain outcomes may increase, reflecting their likelihood. Once the event concludes, the tokens representing the final outcome hold the full value of the bets, while the tokens linked to other outcomes become worthless.

Gnosis Team Background and Partnerships

Gnosis was co-founded by Martin Köppelmann and Stefan George, with Köppelmann serving as the CEO and George taking on the role of CTO. The project was initially launched as a prediction market platform and gained early support as one of the projects backed by ConsenSys, an incubator focused on Ethereum.

Before starting Gnosis, Martin Köppelmann conducted extensive research on various scalability solutions and consensus mechanisms, exploring economic incentive structures. Additionally, he delved into the application of blockchain technology to enhance the concept of universal basic income. This research eventually led to the creation of Circles, a crypto token built on the Ethereum platform with the aim of implementing a basic income as a monetary policy.

Stefan George, on the other hand, had previously founded fairlay.com, a centralized bitcoin prediction market, before his involvement with Gnosis.

Some of Gnosis's partners include Chainlink, Ramp, and DAOHaus. Beside, Gnosis powers many dApps such as POAP, Dark Forest, Azuro, Circles, Giveth...

Gnosis Project Development

In the latest updates, Monerium's EURe, a euro-backed stablecoin on Gnosis Chain, continues to make strides. It functions as regulated and programmable digital cash, accessible across the EU, Iceland, Norway, and Liechtenstein, supporting currencies like $USD, $EUR, $GBP, and $ISK. Utilizing a Safe wallet, users can easily send and receive funds to and from their bank accounts. Notably, when a signature from the wallet is provided, the EURe is burned and sent via SEPA as euros to any bank account. Sebastien Derivaux, the founder of Steakhouse Financial, recently put the system to the test with successful outcomes.

Furthermore, Gnosis Guild is actively developing Hashi, an oracle aggregator for blockchain bridges. This initiative strengthens crosschain security by consolidating bridge standards.

Additionally, Gnosis has launched a Bug Bounty Program in partnership with Immunefi. Participants who discover bugs can earn a rewarding bounty of up to $50,000.

Gnosis Price Analysis

As of November 24 2024 Gnosis has a marketcap of $710M. This is {{percentagefromath}} from its all time high of $644.20. In terms of its tokenomics, there's a total supply of 3M with 86% currently outstanding. Keep in mind Gnosis has a fully diluted value of $822M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.