Gnosis Chain Ecosystem
Gnosis Chain (formerly the xDAI chain) is a blockchain designed for fast and inexpensive transactions. It is ideal for payments and decentralized finance applications. Check out the table on this page that includes Gnosis ecosystem projects with descriptions and interest levels based on the CryptoTotem algorithm. Learn more ↓
| Projects | Status | Date start | Raised | Launchpad | Ecosystem | X score | Interest lvl | Industry | ||
|---|---|---|---|---|---|---|---|---|---|---|
Past ICO IDO | Oct 22, 2020 | $69,6M | Data Analytics +8 | |||||||
ICO | TBA | $100M | Exchanges & Wallets | |||||||
Past IDO | TBA | Finance Services & Banking +2 | ||||||||
Past ICO | Feb 24, 2021 | Privacy & Security +1 | ||||||||
Past ICO | Apr 23, 2017 | $12,5M | Blockchain Infrastructure +1 | |||||||
Past ICO | Jan 15, 2018 | $21,51M | AI & Neural Networks +1 | |||||||
What is Gnosis Chain network
Gnosis is an open source blockchain system focused on the prediction market. The Gnosis Chain Startup dates back to 2015 and was founded by Martin Koppelman and Stefan George.
Notably, Gnosis originally belonged to the ConsenSys blockchain project, acting as the first platform for the crypto prediction market. However, in 2017, Gnosis became a separate company and conducted an initial public offering of the GNO token.
Even later, literally in 2020 GnosisDAO was formed and in 2021 they decided to team up with xDAI to develop the Gnosis Chain.
One of the key features of Gnosis Chain is its focus on creating decentralized applications for prediction markets. These apps allow users to bet on the outcome of events ranging from sports matches to elections, bringing an element of gamification to the cryptocurrency ecosystem. This approach not only expands the possibilities of using cryptocurrencies in everyday life, but also contributes to a wider societal acceptance of these technologies.
Gnosis Chain aims to rewrite the rules of the game in the world of decentralized finance by offering cutting-edge solutions in predictive markets and decentralized finance (DeFi).
Partners & investors
Notably, Gnosis was the first to launch its own DApp based on the ETH network. After time, it became clear that today Gnosis is a very broad ecosystem with many interesting partners, which includes DApps such as:
- xDAI Bridge
- Chainlink
- Dune
- AAVE
- Sushiswap
- Balancer
- Nifty
- 1inch
- Coinbase Wallet
- OKX Wallet
- Zapper
- Azuro and many others.
At the same time, the Gnosis ecosystem also includes four projects of its own:
In addition, Gnosis Chain has attracted the attention of major investors, which include:
- CMCC Global
- Collider Ventures
- Consensys Mesh
- BlockAsset Ventures
- Cherry Crypto
Key solutions of Gnosis Chain
The basic concept behind Gnosis is to form a decentralized space where participants share and trade predictions directly on the blockchain.
In addition, Gnosis Chain initially implemented a unique two-tier consensus combining Proof-of-Stake (PoS) and Proof-of-Authority (PoA). However, the Gnosis Chain architecture is now officially reported to be operating with Authority Round (AuRa) support.
Gnosis Chain also integrates the Conditional Token Framework (CTF) technology. Thanks to this model, GNO token holders have the right to bet on the outcomes of various events. The CTF mechanism features anti-fraud protection and ensures the accuracy and transparency of the results of market-created forecasts.
In fact, CTF technology gives users:
- The ability to create markets based on probability or any event.
- Ability to create complex markets in the probability segment of the impact of some event on any other event.
- Opens up the possibility of trading any asset when an event occurs.
Also, it should be noted that by supporting bridges to other leading blockchains, Gnosis Chain enables easy integration and portability of assets between different ecosystems. This opens up a wide range of opportunities for users and developers who wish to utilize the many benefits of blockchain without the constraints of choosing one specific platform.
Token GNO
GNO is Gnosis own sidechain token, which is designed to manage its ecosystem and also protects the network through staking. The project is managed by a decentralized autonomous organization called GnosisDAO.
Due to the useful features of the token, GNO owners are interested in holding it rather than selling it. Due to this, there is a constant demand for coins that remain in free circulation.
Conclusion
In conclusion, Gnosis Chain is an exciting cryptocurrency project that offers unique opportunities to create and use decentralized financial applications. With its low fees, high transaction speeds and focus on predictive markets, Gnosis Chain is well positioned to become a key player in the future of blockchain and cryptocurrencies.