Presentation and definition of the crypto-currency Gnosis (GNO)
- Name of the crypto-currency : Gnosis
- Code : GNO
- Where to buy Gnosis ? Binance
- Creation Date : April 2017
- White paper of Gnosis
- Web Site of Gnosis
Gnosis, from the Greek “gnosis” meaning ” knowledge “, is a platform bringing together market prediction. It is built on the blockchain of Ethereum, and is used to create markets predictive. The concept of these markets is to be able to bet on any event, such as, for example, the result of an election. At the end of the event, if a user had predicted the correct result, it is rewarded. The markets are predictive, decentralized are used to obtain a collective opinion a lot more reliable than surveys. They also have the advantage of getting rid of the censorship, and the possibility of fraud.
On Gnosis, a user chooses to take a position via a smart-contract formalized on the blockchain. The network Gnosis allows binary options (yes or no), but also of the digital inputs, to indicate, for example, a score. If the prediction of the user is correct, the member receives a reward.
The token GNO
The network Gnosis uses its own crypto-currency, the GNO. The holders of GNO will be able to generate Wisdom Tokens (WIZ) they will use to pay the various expenses related to the operations carried out on Gnosis. These fees can also be paid in Bitcoins or in Ethers. 10 million units have been created. 10% of the tokens issued are reserved to the development team.
The ICO Gnosis
Gnosis has launched the ICO (Initial Corner Offering) for its development, based on a new system of reverse auctions. That is to say, that as of the sale, the price of the GNO decreases. The initial idea was to ensure a more fair distribution of tokens.