What is Gnosis that has Doubled in Value When the Exchange is Unveiled?

When the Gnosis token exchange was unveiled, the Gnosis value doubled, which attracted the attention of many investors. So what is the Gnosis token on earth? Does it really have such great potential and explosive power? Is it worth putting into our investment plan?

 

Gnosis is a decentralized forecasting market built on the Ethereum agreement. Gnosis provides an open platform for people to predict the outcome of any event. To put it bluntly, it is a betting platform. Remember the top ten “World Cup Concept Coins” in this year’s World Cup? Yes, Gnosis is one of them. You may have heard about much gno coin news after the beginning of the World Cup.

 

Taking advantage of the popularity of the World Cup, Gnosis is know by more and more crypto fans, some of them are optimistic about it, because the Gnosisi project has an excellent team,  its benchmark products are also very good, and it have received the attention and support of the Ethereum community at home and abroad. However, all these so-called advantages are actually external factors and have nothing to do with the nature or substance of the project. Just like a new product with beautiful and gorgeous appearance may easily attract everyone’s attention at the beginning, but over time, if the quality of the product is not good, everything is in vain.

 

Gnosis is such a commodity, because the project itself has many flaws:

1.Auction Terms: The ICO auction terms trigger a prisoner’s dilemma between investors. In the worst case, investors who invest a total of $12.5 million can only get around 4.17% of the token (the token costs $30/piece).

 

2.The finality of the facts: the finality of the facts is difficult to ensure, and the result obtained by betting may be only the prejudice of the public, and the truth is not necessarily reflected in the bet.

 

3.Regulation and Compliance: Applications that may be developed based on Gnosis, such as sports bets, will directly trigger regulatory attention and control. This will also be reflected in the big trading market, which may cause it to be afraid to go on the shelves or need to remove the Gnosis token.

 

On the one hand, Gnosis serves as a forecasting market for the blockchain, and on the other hand, it can become a decentralized betting market for users. In two ways, Gnosis has a large number of competitors. In the blockchain field, projects such as Augur and Aeternity are mainly based on forecasting markets, especially with AE, both of which are based on Oracle and the state channel. In terms of betting on the market, a large number of traditional and easy-to-use websites and apps are enough to become strong competitors in Gnosis marketing.

 

Based on all the analysis above and the performance reflected in the gno price chart, I’m personally not optimistic about Gnosis!