Review on Gnosis by Adedayo Adeniji
Gnosis an advanced idea in opposite direction of what an exchange can do
I realised Gnosis is an open source prediction market facility run on ethereum. Market prediction is a marketplace in which instead of trading assets , outcome of events are traded. It was founded in 2015
Loses and gains are determined by your predictions as a user. You can go through the goal of Gnosis in three platforms, one to create assets in terms of incentives,information or ideas called Apollo, another one to trade and auction off your assets called DutchX and one as a wallet and internet surfer to relate with ethereum apps.
It has two tokens GNO and OWL where one is staked to generate the other to fulfill the goal of Gnosis decentralized system.
Gnosis is a platform extremely in opposite of the exchange idea we used to know and it is such a fine one to embrace for diversification.
Pros
- It is cost effective
- Highly advanced
Cons
- Lacks backing of any sort
- Can be confusingly difficult
