Review on Gnosis by Fabrizio Zampieri
Gnosis was created to help users explore and profit when they participate in…
Gnosis was created to help users explore and profit when they participate in prediction markets. A prediction market utilizes user-predictions to aggregate all information about future events. In this market, users trade tokens that represent the outcome of a certain future event. Naturally, some outcomes are more likely to occur than others, the different tokens end up attracting different prices in an open market.
With time going on, the related events start unfolding. Some token outcomes may have a higher likelihood of becoming true and hence their value will increase. Once an event occurs, the tokens representing the final outcome will receive full value while the other tokens’ value is zero.
Summarily, we can say that Gnosis is designed to enable a person forecast in the virtual markets.
Among the programs users can access on the Gnosis platform include Financial Markets, Insurance, Futarchy, The Hunch Game and Price Discovery.
Gnosis is an Ethereum-based token.
About team, the leading persons in the Gnosis project are Stefan George and Martin Koppelmann. Another important member is Joseph Lubin who is a co-founder of Ethereum and is also the founder of ConsenSys. The famous Vitalik Buterin, the founder of Ethereum, is also said to offer his assistance to Gnosis.
Pros
- - It is one of the few cryptocurrencies that has maintained a higher price than the issue price. - Gnosis has created an original and important platform for prediction market apps and is continually improving it. - The Gnosis team is releasing a decentralized exchange called DutchX. The exchange will be be launched in Q2/Q3 of 2018. It is possible only trade ERC20 tokens on this exchange. - GNO is a very interesting token for investing.
Cons
- It's a young project so there is still a lot of work to do. We should judge its results in the medium term (9-12 months).
