What is Gnosis (GNO)?

A decentralised prediction market platform based on the Ethereum blockchain is called Gnosis (GNO). It was developed to make it possible for people to base their judgements on predictions and information gathered from the general public.

The History of Gnosis

The founders of Gnosis, Martin Köppelmann and Stefan George, established the company in 2015. In an initial coin offering (ICO) in 2017, it raised $12.5 million, and the GNO token was made available the following year. Since the platform's debut, it has developed a reputation as a dependable, approachable, and decentralised prediction market platform.

The Use Case of Gnosis

Prediction markets, which let users trade shares depending on the possibility that an event will occur, are where Gnosis is most frequently utilised. Users can trade shares, for instance, on the result of a presidential election, the likelihood of a stock market crash, or the likelihood that a specific sports club would win. The platform also supports conditional markets, where users can forecast the outcome of a series of events, such as whether it will rain on a particular day.

Gnosis has been used for other things besides prediction markets, like decentralised finance (DeFi) applications like stablecoins, decentralised exchanges (DEXs), and yield farming.