Altcoins: Gnosis (GNO) - What Is It? - A Deeper Look Into the Gnosis (GNO) Platform

Dr. Copper: Building a Foundation Amidst Commodity Challenges


  • What is The Gnosis Platform and how does it work?
  • Advantages of the Gnosis exchange.
  • Gnosis’s past, present and future price positions.

Read next: Altcoins: Numeraire (NMR) - What Is It? - A Deeper Look Into the Numeraire (NMR) Platform & Trading Based On AI-Generated Market Predictions 

The Gnosis Platform

Gnosis (GNO) is an open-source decentralised prediction market platform that is based on the Ethereum blockchain. The company's main objectives include but are not limited to; the standard for predictive assets, customised information search and Gnosis hopes to become the most effective tool for forecasting in the industry.

GnosisDAO builds decentralised infrastructure for the Ethereum ecosystem. In November 2021 the Gnosis DAO and xDAI community held a vote to combine their vibrant ecosystems of these two platforms, the combination created the Gnosis Chain, which is an Ethereum forerunner-companion that addresses scaling issues through solid engineering.

Gnosis Chain is the execution-layer EVM chain that is associated for stable transactions, the chain makes use of the xDAI token and includes a wide-ranging group of projects and users.

The main interoperable products of Gnosis are used for trading, creating and holding digital assets on Ethereum.

The current market capitalization of Gnosis is currently at more than $277 million. GNO has a maximum supply of 10 million GNO tokens; 2,579,588 (26%)are currently in circulation.

Gnosis is a fully permissionless decentralised exchange, its ring trade feature allows trades that share liquidity to get maximum liquidity across all orders. Trade settlements happen every 5 minutes. The Gnosis protocol V2 batch auctions offer maximum extractable value integration and protection with liquidity sources in decentralised exchanges for best-priced trades.

The Gnosis GNO ecosystem has three main layers;

  1. The Gnosis core layer consists of smart contracts, these smart contracts govern the outcome creation, settlement and they provide a market mechanism. The layers are always available for use. The main two smart contracts are Epochtoken locker which deals with a staged deposit, withdrawal of funds as well as deposit balance and Batchexchange which deals with all exchange-related logic, adjustments and orders placement and verification of solutions and submission.
  2. The Gnosis service layer offers additional services, these services include chatbots, optimization tools, and stable coins.
  3. Gnosis application layer stands as a tool to help predict market use cases or customer segments. Gnosis and third parties build applications.

Advantages of the Gnosis platform and GNO token

  1. The open-source nature of the platform creates safety and security for the platform's users.
  2. The open-source also allows users to vet the coding. Thus, they are less likely to have attack vectors.
  3. The Gnosis system also makes it more simple for users to trade, create and hold digital assets.
  4. The Gnosis platform was built with the desire for it to be scalable.
  5. The protocol leverages the Gnosis Chain to improve performance.
  6. Gnosis provides its users with lower fees and faster transaction times compared to some other programmable networks.
  7. Gnosis can be used for large scale transactions due to the network averaging 5-second transactions.
  8. Gnosis platform allows its users to benefit from forecasting (predicting future market movements), these market-driven actions provide a valuable service as a source of information and standards for predictive assets in this market.

Past, present and future prices of The Gnosis network (GNO)

The price of the Gnosis (GNO) token hit its first peak on New Years Eve 2017-2018 at a price of $396.86, thereafter the price fell throughout 2018 and remained low until half way through 2020, when the price began to climb again. GNO’s price climbed steadily throughout the second half of 2020 and the whole of 2021, reaching its all time high of $529.48 in late December of 2021. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market.

Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, GNO does fall under this category.

According to some analysts, the future price of The Gnosis network (GNO) could reach up to $1,019.82 by 2025 and could see a price of more than $3217.74 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions.

Altcoins: Gnosis (GNO) - What Is It? - A Deeper Look Into the Gnosis (GNO) Platform  - 1 GNO Price Predictions


Dr. Copper: Building a Foundation Amidst Commodity Challenges

Rebecca Duthie

Remote Editor and writer Intern

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.