Dear ATOMARS Community,
We are pleased to announce the listing of Gnosis (GNO) on Atomars exchange. Gnosis (GNO) deposits are effective starting from October 14, 2019 and the following trading pairs will be available: GNO/BTC and GNO/ETH.
GNOSIS PROJECT SUMMARY
Gnosis is an open-source decentralized prediction market created using the Ethereum protocol. The platform works based on smart contracts and is usable by anyone looking to predict event outcomes. It is now possible to make transactions on the sale of binary positions at the end of any random event with the predictions markets. Anyone can bet on events like sports events, film festivals or elections. If the outcome is just as predicted, the participant will receive a certain profit from the funds invested, if not, they will lose them.
The Gnosis cryptocurrency first appeared in 2016 as a product of the Consensys company. Martin Koppelman and Stefan George started working on the project, but after the DAO hedge fund crisis, the project creators took over the cryptocurrency. In Spring 2017, the crypto revolution took place, which saw Gnosis become an independent platform. Within that time, a full audit of smart contracts was conducted to assess risks and determine a strategy for action. Today, GNO is a decentralized currency and the only platform in the world that allows for forecast market applications.
GNOSIS (GNO) FEATURES
The Gnosis platform features three different technology layers that make up the Gnosis prediction market. These are the core layer, services layer, and applications layer.
First Layer: Gnosis Core
This layer provides the foundational smart contracts for use in Gnosis. These include the creation and settlement of event tokens, a market mechanism, oracle, and a management interface. This layer has no fees and will continue to be free and open to use. To create new markets at zero marginal cost and keep being competitive, fees should remain at zero. Rather than grasp at the maximum possible fees while keeping competitive, Gnosis eliminates fees at the most basic contract level. People can use the available open source and free contracts rather than deploying their own version.
Layer Two: Gnosis Services
On top of the Gnosis Core, the Gnosis Services offers added services and will implement a trading fee model. These services include the integration of stablecoins as well as a payment processor system, new market mechanisms, a state channel implementation, application customization tools, open-source template applications, and the oracle marketplace. With time, more features will be introduced.
A prerequisite for betting and using financial applications are the state channels, which require thousands or more transactions per second. In the absence of stablecoins, market participants face cryptocurrency volatility which the market is denominated by, as well as the event outcome that they predict. Application templates, advanced oracle selection and customization tools lower the barrier to entry for applications based on a new prediction market by at least two orders of magnitude. While some applications and participants interact with Gnosis on the Core level, these services provide a strong reason for use of the service level.
Layer Three: Gnosis Applications
The Gnosis application layer is found on top of the services layer and sometimes just on the Gnosis Core. These are primary front-end applications that target a specific prediction market use or customer class. Gnosis may have built some of these applications, while third parties build others. The vision for Gnosis is to have a large cross section of prediction market applications built over the same platform. Additional fees will be charged with these applications or use different business models such as market making, information selling, or advertising.