GNO is a decentralized prediction market platform built on the Ethereum blockchain.
Gnosis is a decentralized prediction market platform built on the Ethereum blockchain. Prediction markets are a system where people bet money on future events, and the person who correctly predicts the actual outcome gets the money. Gnosis is a prediction market that uses blockchain technology to create such a market.
Gnosis has adopted the Dutch auction format in order to regain the original advantages of ICOs, such as the ability to invest small amounts of money with anyone from any country.
In order to restore the original advantages of ICOs, such as the ability for anyone to invest from any country with a small amount of money, Gnosis has adopted a Dutch auction format, in which the price is gradually reduced.
A decentralized prediction market allows all users to monitor transactions, and a reporter is responsible for fact-checking the outcome of bets. This means that the entire process of betting, including the calculation of odds, the verification of predictions, and the distribution of dividends, can be carried out automatically, making gambling more fair and enjoyable.
Decentralized prediction markets also have the advantage of helping to predict the future through the collective intelligence of the crowd. As the prediction market matures, it will be easier to receive guarantees against natural disasters and accidents.
The system can be applied in various ways, as it can replace unforeseen events that may occur in the future with assets, and automatically calculate and pay out the necessary portion of those assets. This system has been provided in the form of insurance, but if the GNO function is developed further, it may be possible to realize an insurance function that eliminates the need for intermediaries and insurance companies to deduct commissions.
The GNO is available for purchase on Binance.
Official website : https://gnosis.io/
Twitter : https://twitter.com/gnosisPM
Github : https://github.com/gnosis/gnosisdb
