Gnosis is a decentralized platform to generate a rich flow of information concerning outcomes of specific events with an exclusive focus on trading activities in forecasting markets. Gnosis platform consists of three different layers, namely Core Layer, Services Layer, and Application Layer. Gnosis offers GNO as its tokens. Gnosis is not only an attempt to build an interesting cryptocurrency option but is also a vision to develop a community of individuals who are blessed with market acumen. Gnosis platform is also designed to enhance confidence of the partners as well as developers with help of its robust infrastructure powered by fee reduction mechanism.
Gnosis was introduced with an aim to support the decentralized prediction market. The first GNO tokens were sold in May 2017 with an aim to raise funds for its activities. Users can use Gnosis Wisdom or WIZ tokens while operating in the Services Layer of Gnosis platform. These tokens can be created only by stimulation of activity of GNO tokens. The smart contract allows locking of tokens and the lock-in period will be used to determine as well as to regulate WIZ supply. Gnosis was built with a core value proposition that guarantees a trustless and decentralized platform for security and anonymity of transactions.
Gnosis cryptocurrency is exclusively focused on open forecasting domains. These are characterized by information regarding a wide spectrum of uncertain events and can significantly facilitate traders of virtual securities. The outcome of events can be better if there is a reliable and rich flow of information. This is facilitated by Gnosis with development of smart programs including Financial Markets, Price Discovery, Futarchy, and The Hunch Game just to name a few. Auction houses can leverage Price Discovery for fixing a initial price of an auction and also project prices at which the participants would be knocked down. Financial Markets attempts to be a robust platform for surveys and offers useful insights into forecasts while users can use Price Discovery for finalizing prices of different services or products. Gnosis developers are upbeat about inclusion of Hunch Game that provides significant knowledge about Prominews. All these applications are designed to be target specific operations.
GNO can be traded or exchanged on Poloniex exchange that witnessed doubling of its price during initial phase of the launch. Kraken has also committed its support for GNO. The San Francisco based exchange is offering to trade pairs in Euro, US dollars, ether, and Bitcoin.
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