Gnosis Price & Charts
What Is Gnosis ?
The crypto market has become a playground for creative and innovative people. From a Wi-Fi sharing coin to a real-estate property coin, everything has taken its time under the crypto sun. However, not all ideas are the same. Bitcoin and Ethereum are a great example of this fact. Bitcoin was built with the intent of disrupting PayPal and the entire digital payment industry. Ethereum, on the other hand, came into existence as a new way to use the internet. Ethereum’s smart contracts proved that the blockchain could do more than being a fancy ledger. And it is thanks to the Ethereum blockchain that Gnosis (GNO) is possible.
- The power of information
As technology takes over the way markets operate, predictive markets will start to gain more notoriety. Proposed by economist Friedrich Hayek in 1945 during his publication, The Use of Knowledge in Society, it was created on the principle of trade markets based on the outcome of an event. The purpose of the market is to indicate the probability of an event from happening. Gnosis takes this principle to a whole new level.
1.1 Predictive markets
In essence, this type of market only works by aggregating information about a specific outcome. But, unlike, traditional financial markets they are not under the pressure of limited accessibility
F. A. Hayek 1945. “The Use of Knowledge in Society,” American Economic Review, 35(4)
and liquidity. Moreover, there are current restriction and regulation towards existing financial sites by US government that extends well beyond US soil. According to the CFTC, Irish-based Intrade was sued and banned from trading exchange options by engaging in market manipulation. Additionally, corporate tycoons have also shunned away from predictive markets due to fear of poisoning the corporate environment.
That is why Gnosis came into existence. According to the whitepaper, “Our mission is to build an accessible prediction market platform enabling the free flow of useful information.”
The goal of Gnosis (GNO) is straightforward. As explained in their whitepaper, their first goal is to build the world’s most efficient forecasting tool. The second goal is to create the “Google” of customised information searching. And their third goal is to become the standard for predictive assets.
The benefits of Gnosis extend far beyond what ordinary derivative markets can accommodate. An example of its reach can be found on the company’s whitepaper. “An Ether/USD currency can be implemented by creating a scalar market which asks, “What will the Ether/USD exchange rate be at a future date?” Liquidity from this market can then be used to offer Ether/USD tokens which are pegged to the USD value.”
The team behind Gnosis is Martin Köpplemann as CEO of the company, with Stefan George as co-founder and CTO. Matt Litson, Denis Granha, Milad Mostavi, Vlad Todirut, Giacomo Licari, Alan Lu, Dr Friederike Ernst, and Rami Khalil.
2.1 Gnosis Token
Gnosis needs a blockchain to operate, and any blockchain comes with a coin. GNO is the ticker of the token, and Poloniex and Kraken are currently trading it. The trading pairs for any interested investor are GNO/BTC and GNO/ETH. And, as of this writing, it is sitting at $69.73 on both sites.
For interested investors here are Gnosis main outlets.
Gnosis. Whitepaper. pp. 9