GNOSIS: EXECUTIVE SUMMARY
Added 2019-12-13 20:13:29 +0000 UTCTIERS: VISIONARIES/FOUNDERS
Gnosis is another part of the DeFi Network. The team had great target contact. Keep your wits about you in this hour long remote viewing session.
Gnosis (GNO): The Basics
- Gnosis is an open-source, decentralized prediction market built using the Ethereum blockchain. Apart from being a prediction market, it is essentially an infrastructure which facilitates the creation of diversified market forecasting apps.
- Three core objectives drive the Gnosis platform:
- Providing the world’s most efficient forecasting tool.
- Incorporating customized information searching in the Gnosis platform.
- Setting a standard for prediction assets.
- GNO token is the primary cryptocurrency of the Gnosis platform. The platform also has a secondary token called WIZ, which operates internally. The GNO token works as a license to access the Gnonis platform.
How is GNO different from other cryptocurrencies?
- While most cryptocurrencies allow functions like peer-to-peer transactions and payments, GNO token works in bit complex way. GNO tokens are an integral part of Gnosis ecosystem an essentially a license required to access GNO platform.
- GNO acts as a fee credit generating machine. GNO tokens are used to create WIZ tokens (another cryptocurrency of Gnosis platform) which in turn are used to pay different fees for accessing Gnosis platform.
- For generating new WIZ, GNO tokens are locked for a specified duration decided by the user. During the lock-in period, the tokens become non-transferable. The lockdown period can be ranged from one month to twelve months.
