Gnosis: EVM-compatible blockchain for Defi application
For the purpose of developing Defi solutions that are EVM compatible, the Gnosis chain was developed for Ethereum-based platforms. An open-source platform for forecast and prediction market solutions is intended to be expanded by this protocol. Gnosis consists of three different platforms:
- Apollo — prediction market tool: This makes it possible for everyone to use specialized forecasting applications. These apps provide a brand-new asset class called conditional tokens, which allow the trading of arbitrary event outcomes and serve as an effective information discovery tool by estimating the likelihood that specific events will occur.
- DutchX — a decentralized exchange: The DEX uses Dutch auctions with uniform clearing prices to trade multiple tokens.
- Gnosis Safe — the wallet solution: a multi-signature Ethereum wallet that enables users to communicate with the decentralized web and handle their digital assets in a secure manner.
Gnosis architecture was designed with three separate layers, each of which can interact and communicate with Gnosis platforms.
- The Core Layer, which runs the market mechanism and supports smart contracts, is the platform’s main support layer. It also automates settlements.
- Service Layer includes other services like chatbots, interaction with payment processors, and stablecoins. This layer is also designed to manage the trading fee structure. The majority of consumer applications, according to Gnosis, will engage with the features on this tier.
- Application Layer is where all the prediction market dApps based on Gnosis are collected. The majority of the dApps accessed through this layer were created by outside parties who may charge customers for their services.
GNO is the native token of Gnosis, which is an ERC-20 token and is used for a variety of purposes like generating OWL token, Gnosis prediction markets, and DAO governance.
The Gnosis section on our app is now online
Constantly looking for new blockchains to include in the integration list, DePocket always aims to offer the best things for users. Gnosis’s user base is considerable as Gnosis Safe was recently reported to be managing approximately $38 billion in crypto assets of a group of users including Bitfinex, BitDAO, and Vitalik Buterin, according to Dune analytics, compared to 100 million dollars in February.
Those are signs that the ecosystem of Gnosis will develop more explosively in the near future. And of course, the need to track assets on this blockchain will also increase proportionally. DePocket users who are holding tokens on Gnosis or Gnosis users who are looking for a portfolio tracker can consider DePocket.
Try our demo wallet here: https://app.depocket.com/addresses/0xc66825c5c04b3c2ccd536d626934e16248a63f68
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