The betting industry in the modern world is extremely popular. Services offer users to predict the outcome of an event, and if they are right, they will receive an appropriate reward. The demand for such sites has led to the fact that they drew the attention of the cryptocurrency industry. In the modern cryptoworld, there are two projects, tailored for the prediction services - Augur and Gnosis, which recently has held ICO. Let's talk about the second one in more detail.
The Gnosis crypto (GNO) is based on the Ethereum blockchain and uses smart contracts to calculate rewards. As soon as the user makes a bet on a certain outcome, a smart contract is immediately concluded, which instantly calculates and transfers the reward in case of winning. It is impossible to interfere with the process and prevent the payment, so the Gnosis project is a tool for truly honest bookmakers.
Gnosis mining is impossible. However, it can be obtained in other ways, for example, the user can buy coins on the crypto exchange or win them by betting on the service that uses this digital coin.
Ample opportunities for use. Unlike cryptocurrencies, which allow you to bet only on sports (such as BetterBetting), Gnosis allows you to predict the outcomes of other events, for example, in politics or music.
Honesty and legality. Using Gnosis betting, the bookmaker can be sure that he will get his winnings. There are no mechanisms for fraud at the offices. In addition, the cryptocurrency gives sites the opportunity to work legally in the territory of different states.
Quick transactions. Financial transactions in the Gnosis system are carried out in just a few seconds. As soon as the event is completed and information about it gets to the site where the bet is made, the smart contract is instantly executed, it calculates and sends the payment.
Open source. Gnosis uses Java Scrypt, and the cryptocurrency can be applied for integration to any services via Java Scrypt Library.
You can store the Gnosis cryptocurrency on the official wallet. The service offers online storage, so the user does not have to search for the installer for his operating system, download and install the program. It is enough to go through the registration procedure on the website, after which you can start using the wallet.
Remember that Gnosis is based on the Ethereum blockchain. This means that it can be stored in the official Ethereum wallet, as well as in multi-currency repositories that support the technology. These include Jaxx, Atomic, Exodus. It is also possible to keep the coins on the hardware wallet Ledger Nano 5.
The project Gnosis became very interesting for many cryptocurrency exchanges. The cryptocurrency can be found in the listing of such giants as Kraken, Bittrex, Poloniex,Upbit, HitBTC, Cryptopia. In addition, the coin is traded on a number of less well-known platforms such as Mercatox, Latoken, Bancor Network, Gopax, BX Thailand, Radar Relay. You can buy the digital coin for BTC, ETH, USDT, as well as for fiat currencies such as USD and EUR. You can see the current Gnosis price at Coinmarketcap.
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