Review on Gnosis by Alex Martakov
The main difference between this project and Augur is the formation of the…
The main difference between this project and Augur is the formation of the response and the corresponding results. Gnosis generates a prediction based on a single network, which speeds up the verification procedure.
Competition between the two projects creates conditions for their qualitative development. The development potential is highly valued in both cases, which creates prospects for successful investment on a long-term basis. For short-term investments, Gnosis can come up with its roadmap
Pros
- (+)- the user creates a smart contract in the form of a survey of opinions about a certain event; (+)- participants choose the suggested answer at the expense of introducing crypto – currencies- make a bet; (+)- depending on the term, all bets are frozen on the accounts until the results of the specified event; (+)- according to the results, users are rewarded for successful bets or lose frozen funds if they make the wrong choice. (+++)- A significant advantage of the project is the ability to develop applications and integrate with social networks. Large analytical companies, investment funds and bookmakers will be able to develop services focused on user rates Gnosis and obtain relevant analytical information based on the expectations of participants. -(+++)
Cons
- However, it also highlights certain risks associated not only with the technical implementation of the development, but also with the competitiveness of the project. In this direction, the development of the Augur platform is noted, which offers similar functionality for conducting surveys.
