Gnosis (GNO) is another crucial component that plays a significant role in developing various blockchain projects, starting as a prediction market and evolving into one of the most notable Sidechains today. This article will summarize the essence of Gnosis (GNO).
What is Gnosis?
Gnosis (GNO) is a blockchain infrastructure provider that started in 2015 as a decentralized prediction market. Originally planning to be a blockchain platform similar to Augur, they shifted focus to creating infrastructure tools for the Ethereum ecosystem.
In 2020, Gnosis announced its transformation into a Decentralized Autonomous Organization (DAO). In 2021, the xDAI and GnosisDAO communities merged to create Gnosis Chain, a sidechain addressing Ethereum’s scaling challenges. It functions as an execution-layer EVM (Ethereum Virtual Machine) chain for stable transactions using the xDAI token and supports various projects and users.
Who Are the Founders of Gnosis?
Gnosis was established in 2015 by Martin Koppelmann and Stefan George as part of ConsenSys, an Ethereum venture production studio. In April 2017, it became an independent company after securing funding and is now based in Gibraltar. With over 50 team members worldwide, Gnosis operates mainly from its development hub in Berlin located at the Full Node co-working space.
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