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Gnosis (GNO) is the 143rd largest cryptocurrency in the world by market cap, valued at $340,530,000. The current price of Gnosis is $113.51, which is 1.258% higher than yesterday. Prices have ranged between $114.82 and $108.16 over the past 24 hours. All prices are listed in US dollars and accurate as of February 01, 2023 01:02 UTC.
Gnosis is a decentralized prediction market built on the Ethereum protocol. Backed by ConsenSys, it aims to provide an open platform where users can predict the outcome of any event, including everything from elections and insurance to climate change.
Gnosis was founded in January 2015 by Martin Köppelmann and Stefan George. With an aim to produce a decentralized, user-friendly network for prediction markets, Gnosis held a token launch in 2017 via a Dutch auction. The launch was a successful one, with US$12.5 million worth of tokens purchased within just 12 minutes.
Using the Gnosis platform, third-party developers can create betting applications on anything from sports results to elections, celebrity gossip and stock values. Other users can then bet on the outcome of the event, with the data collected during the betting process used to create a prediction.
The Gnosis platform has two native tokens. GNO is an ERC-20 token intended to encourage user participation within the platform. They can be used to generate OWL tokens by locking your GNO in a smart contract. OWL tokens are used to directly interact with the Gnosis network and can be used to pay for transaction fees, as well as creating and betting on markets.
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