Quick Guide about Gnosis and its Native Token $GNO
Gnosis Chain is one of the first Ethereum sidechains, allowing contributors around the globe to easily run a node. And is secured by over 100k validators.
Introduction to Gnosis (GNO)
$GNO is built on the acclaimed Ethereum (ETH) network using the ERC20 token standard, which in turn allows the project to utilize the network's Proof-of-Stake consensus mechanisms and security.
Gnosis Layers
Users of $GNO get to experience 3 different products that use 3 different layers to deliver a complete experience for the users:
Gnosis Core Layer provides the core smart contracts for the Gnosis platform.
Gnosis Service Layer provides resources for consumer apps and is also used by tools like chatbots and stablecoins.
Gnosis Applications Layer mostly consists of front-end tools that cater to certain consumer categories or prediction markets.
Gnosis Applications
Applications are created in two different ways: by Gnosis and by third parties.
A market for any event may be created using the Apollo Network (Gnosis’ prediction market), where users can buy and sell positions to guess the result. Certain outcomes are more likely to occur as time goes on or related events take place, increasing the value of the associated tokens. Once the outcome of the event has been determined, the tokens representing it are paid out in full, and the remaining tokens representing the opposite outcome lose all their value.
For those who are interested in traditional blockchain, Gnosis provides a variety of distinctive products and tools. Anyone can use specialized forecasting programs that make any random occurrence tradeable thanks to prediction market equipment.
Additionally, GNO provides a safe mechanism to handle digital assets called the Gnosis Safe and a decentralized exchange. Gnosis distinguishes itself from less well-known rivals with three interoperable product lines and an active international team.
Team
Martin Koppelmann and Stefan George, cofounders of the Ethereum venture production company ConsenSys, established Gnosis in 2015. Gnosis was able to obtain funds in April 2017 and established itself as a stand-alone business with a Gibraltar address.
Gnosis presently employs more than 50 people worldwide and has its primary development center in Berlin in the co-working facility Full Node.
Where to Store Gnosis (GNO)
A trusted wallet provider for your Gnosis (GNO) token could be Trust Wallet a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place.
Similarly, a user-friendly option to keep your $GNO secure can include MetaMask, a leading browser wallet extension popular among DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting to their MetaMask wallet.
On the other hand, if you are looking for a safe offline storage solution, we recommend the leading hardware wallet provider, Ledger.
Atomic Wallet is a popular custodial wallet option that can hold a wide variety of cryptocurrencies, such as $GNO, making it highly desirable for users who wish to have a varied portfolio.
All ERC-20 tokens, including Gnosis (GNO), can be stored on the Ethereum blockchain using MyEtherWallet, allowing users to interact with the network without additional software.
Where to buy and sell Gnosis (GNO)
You can Buy & Sell Orchid (OXT) by heading over to the Buy Coins page of our website. Orchid (OXT) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $OXT has never been easier, simply place your order and provide your wallet address. Once your payment arrives, Orchid (OXT) will be sent directly to your wallet.
If you choose to Sell Orchid (OXT) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.
Gnosis (GNO) Resources:
Website: https://gnosis.io/
Block Explorer: https://etherscan.io/
Twitter: https://twitter.com/gnosisdao
Reddit: https://www.reddit.com/r/gnosisPM/
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers' responsibility to complete their own research and due diligence.
