Gnosis

What is Gnosis?

Gnosis is a decentralized prediction market that is created and run on the Ethereum protocol. The platform is open-source and allows users to create markets and interested people to predict the outcomes of various events.

The project was created by Martin Koppelman and Stefan George who had earlier founded another project referred to as Fairlay.com.

Prediction markets allow users to buy or trade positions on outcomes of major events. Speculative markets are like information institutions that induce people to get info, share it through trades, and collect it into consensus prices that persuade larger audiences.

Gnosis, as a prediction market, provides more accurate oracle for future events outcomes. This is inclusive of outcomes reporting from part events.

Now, Gnosis is going further than simply being a platform for prediction markets. It is creating an infrastructure layer that allows users to build their own prediction market.

This implies that you no longer have to look at the prediction markets and wonder how they did it. You have the opportunity to create such markets and reap big from them.

What is the problem that Gnosis solves?

The biggest issue with the prediction markets is that it is highly centralized. Most people joining these markets only participate passively. This means that they can only buy positions after the markets have been created but cannot be part of the designing platforms.

Prediction market centralization further implies that a lot of trust is bestowed on the admin. This leaves the markets at great risk of manipulation. Some of the prediction market platforms are carefully designed to optimize profits for the owners. They are, therefore, open to theft and open corruption with users having no clearly set mechanisms for redress. These are the problems that Gnosis aims to address.

How does Gnosis solve the problem

Gnosis addresses the above issues by adopting a completely decentralized model that allows anybody in its network to create markets and sell positions. To demonstrate this, here is an example;

a) A demonstration of Gnosis Market prediction model

The market starts with the user identifying an event of interest and crafting a question on it. This could be anything from sports, business, or political events. For example; who will win the Russia World Cup 2018; France or Croatia? Another question might be; where will Alibaba base its US head office; New York, California, or New Jersey or other. Note that ‘Other’ is included in most questions to ensure that the answers add up to 100%. The answers are quantified into positions that users buy based on the expected outcome.

When the experts review the final lineup for the World Cup and indicate about the high chances of Croatia clinching the cup, the value of tokens in favor of Croatia will go up. Note that some people still cash their tokens at this point to those who want to reap more when the final event closes.

After the final tournament, and France is announced the winner, the France token holders can claim the full rewards. Those who predicted otherwise will lose the value of the tokens.

b) The Gnosis system

To facilitate the peer2peer market prediction, Gnosis is designed in layers. These are aimed at making it easy new markets creation and flow of information.

  • The Gnosis Core Layer: This is the foundation layer that operates on the basis of smart contracts factoring the market mechanisms, events, outcome tokens, and settlements. The charge levies at this layer is 0.5% to the users who buy the outcome tokens from the market maker. The Gnosis team indicated they will work to clear this fee.
  • The service layer: This is an important layer in the Gnosis ecosystem because it offers important services such as stable coins and chatbots.
  • The application layer: This is a layer that targets to promote the development of third-party applications. It is designed on top of the Service and Core Gnosis layers. Gnosis will also contribute to the apps going into the application layer.

c) The Gnosis tokens

Gnosis is a unique platform that targets not just to facilitate people to effectively use its prediction markets, but to also help with value transfer.

This implies that you can use the platform’s to send funds across the globe the same way Ether or Bitcoin works. The Gnosis platform features two tokens.

The main Gnosis token is referred to as GNO. The tokens were released on April 2017 during the Gnosis ICO and are ERC20 compatible. The total number of GNO tokens is 10 million. People with GNO can trade them in the cryptocurrency exchanges by forming trading pairs in the same way it happens in the forex markets.

The other token on the platform is OWL. The token is used as a stabilizing coin to help Gnosis weather the high volatility of the cryptocurrency market. To achieve this, it is pegged to the US dollar at a ratio of 1:1 (1 OWL=1 USD).

OWL tokens are generated from GNO tokens. This is done through the use of smart contracts where the GNO holder accepts to lock GNO tokens for a period of 30-365 days. A multiplier is added to motivate the users in the Gnosis ecosystem.

What makes Gnosis better than it’s competitors?

  • Unlike the conventional prediction markets that only allow the platform owners or admin to create markets, Gnosis is a decentralized system that makes it possible for users to create the markets. Whether it is in sports, political event or even a major business event, you can easily create binary positions in Gnosis to sell and make profits.
  • Gnosis has a diversity of markets that helps to draw a lot of users. Unlike the centralized platforms where administrations select the markets they believe are popular Gnosis is always overflowing with new event ideas. People will have markets even in areas outside the common sports and political areas. For example, people can target price movement in cryptocurrencies, businesses operations, and even weather.
  • In addition to prediction markets, Gnosis has an app development layer. This layer is expected to help with the progressive development of the Gnosis system to improve the user experience at Gnosis. Because it is open source, the chances are that the development will be rapid making the growth or Gnosis faster and increasing the use cases.
  • Unlike other cryptocurrencies such as Augur, Ethereum or Bitcoin that are highly susceptible to high volatility, Gnosis has two tokens in its system, GNO and OWL. OWL is aimed at helping Gnosis beat cryptocurrency volatility. One OWL is equal to one USD. This means that when you use the token or lock funds, they will be less susceptible to extreme price swings. This has made it a great option for saving funds without worrying about value loss.

How can Gnosis be categorized?

Gnosis is one of the high potential peer2peer and decentralized prediction markets that could help the industry grow to the next level. Its design, tokens, and focus on motivation aims at helping the prediction market diversify while protecting users from extreme price volatility. For most people, Gnosis is helping them get the best of both sides; the cryptocurrency and prediction markets.

The most enthralling component is the stabilizing coin, OWL, that has worked magic to help keep the value of the network stable, grow its value, and attract more users.  Now, it is not just those with interest in prediction markets who are coming to Gnosis. Investors, people interested in savings, and app developers are all interested in the platform.

What’s Gnosis’s vision on Security?

Gnosis vision on security is providing users with the most secure prediction markets and stability. The development team does not stop at anything in ensuring that the platform is secure and users can operate without worrying about attacks. Here are some of the things used to secure the network.

  • Regular updates. The Gnosis development team progressively works on new updates that help to fix gaps and bugs found in the network.
  • Gnosis operates as an open-source platform that allows developers to come up with apps that can help them address issues and security gaps. The apps are also very useful in advancing the Gnosis system to other areas.
  • All details in the Gnosis system including the user details, their keys, and predictions are encrypted so that no one can follow back and unmask you. Even when you send value using GNO, the miners in the Ethereum system can only follow the public address to check the balance of the user.

While the Gnosis system and the development team work tirelessly to hit the security target, those on the platform have to also play their part. As a high potential crypto network, Gnosis coins are of huge interest to attackers. Therefore, here are the recommended tips to stay safe on the network.

  • Make sure to triple check the public address before sending value.
  • Only trade the Gnosis tokens on secure cryptocurrencies.
  • Always store Gnosis in cold storage when not trading them in the exchanges.
  • Ensure to always keep the computer hosting the Gnosis client and the Gnosis client up-to-date all the time.

Examples of Gnosis use cases / applications.

The Gnosis prediction market utilizes the wisdom of the crowd where a group of people pools its knowledge on a subject so that it is considered more accurate compared to an individual’s stand. There is no end to the number of scenarios that people can predict on in markets. From climate change to sports, you only need to have the right questions to establish whether a specific result will be achieved or not achieved. You can even set a market to predict whether an event will occur or not occur.

  • Today, people are opting to use prediction markets to harness the wisdom of the crowd in making business decisions. For example, investors can use market prediction to determine which city is better for a business to grow faster compared to another.
  • The financial sector has found the prediction markets very helpful in determining the shifts in financial assets. Whether you are an investor in the financial sector or want to trade in different currencies, prediction markets will help you to correctly get the price shifts. Many financial markets are also using the markets for policy changes especially with regard to inflation.
  • In property markets, prediction markets have become an important tool especially when the prices are approaching the extremes. For example, traders who want to optimize profits by selling their property when the price hits the peak just before the slowdown and recession commences.
  • In sports, Gnosis can be used to predict the outcome of individual competitions or even a set of tournaments. For example, you can predict the outcome of the English premier league, NFL, or other games at home or internationally. You can even tailor the questions targeting individual players. Note that the options in sports are endless because sports competitions such as skating, skiing, soccer, horse racing, or others are can be selected all year round.
  • Gnosis has also become a great tool for weather prediction. Whether you want to know how the weather will be in the next few months or climate change, the wisdom of the cloud will give near perfect results. Indeed, you can even predict occurrences of various weather phenomenon such as tornadoes.
  • Like other cryptocurrencies, GNO token can also be used for trading in the exchanges, paying trading fees, and even on e-commerce stores that accept it.
  • Because of its stable coin, OWL, Gnosis has become a highly reliable option for people who want to save funds without worrying of price fluctuations. This option is considered better compared to others because it is decentralized and users’ accounts are encrypted. Therefore, your funds will be away from the public eyes and cannot be reached by third parties or frozen even by courts of law.
  • Gnosis tokens, like others such as Ripple and NXT, can also be used for sending value across the globe. GNO, an Ethereum based token can be sent to other people who are in the Gnosis network across the globe. In some decentralized exchanges, it is possible to send value even to those in different networks.

References

https://coincheckup.com/coins/Gnosis

https://gnosis.pm/

https://blog.gnosis.pm/

https://forum.gnosis.pm/t/gnosis-faq/259

https://gnosis.pm/resources/default/pdf/gnosis_whitepaper.pdf

 

Iconomi

What is Iconomi?

Iconomi is an asset management platform designed to help users create or invest in digital asset arrays (DAA). It is aimed at disrupting the fund management niche that has for many years been highly inflexible.

Call it the “uberization” of fund management to make sure that everybody is involved.

For beginners, Iconomi is a great way to take first steps into the cryptocurrency economy. However, experienced investors consider it a great way to diversify their digital portfolio.

DAA comprises of a combination of different digital assets that target the interests of investors. For example, one might be interested in high-interest assets or emerging ones. Then, these asset combinations are put under a manager for support and progressive management.

If you want to optimize returns, the manager will be out following every opportunity and making the right move at the right time. The digital asset arrays (DAA) are used to help users diversify and optimize value stability or fine-tune them to optimize gains.

What is the problem that Iconomi solves?

When you decide to invest in cryptocurrencies, the process can be herculean. You will need to carry a lot of research about respective assets, work with multiple accounts on different exchanges, and follow multiple wallets for storing the digital assets. This is not all, you will need to ensure that your investments are properly secured and follow every cryptocurrency under consideration to ensure you take the right moves at the right time.

The founders of Iconomi understood this situation and wanted to help users work with a more straightforward platform.

That is why Iconomi was created. Iconomi is built on the Ethereum blockchain with experts running the digital asset arrays (DAA) targeting various considerations.

Iconomi development team further aims at bridging the asset investment gaps between the old and new economic orders where average individual can benefit from investment options and practices that were otherwise considered for the elite. No matter the amount you want to put forward for investment, Iconomi will have a place for you.

How does Iconomi solve the problem

Iconomi largely focuses on providing investors with low, moderate, and high-risk investment vehicles with high liquidity. These investments are provided through DAAs available for users to purchase at the platform. Note that unlike other platforms, DAAs promise users immediate withdrawals with no threat of lockouts.

a) The Iconomi DAAs

For a user to invest in one digital asset arrays (DAA), the first step is setting an investment account on the Iconomi site. Then, you will be required to deposit digital assets for buying the preferred DAA.

The Iconomi utilizes Ethereum-powered smart contracts while all funds are stored in a multi-signature cold storage. This helps to keep users as safe as possible from attacks.

The primary goal of Iconomi is simplifying the task so that users can point and click the task to get started. Then, Iconomi will do the rest.

Iconomi uses fund managers who use advanced toolkits to profitably run the investment portfolios. Today, the digital asset arrays (DAA) list at Iconomi is created by industry leaders in the capital investment space such as Columbus Capital Ltd.

For you to join and use the Iconomi, a fee that ranges between 1-5% will be needed. Here are some examples of the DAAs in the platform;

  • Blockchain index (BLX): This was the Iconomi’s flagship DAA which was considered Dow Jones equivalent. The DAA included some of the top and highly vetted cryptocurrencies such as Bitcoin, Monero, Dash, Icon, and Qtum.
  • Crush Crypto Core (CCC): This DAA focuses on high value yet undervalued assets. The portfolio is targeted at those with a long-term focus in cryptocurrencies. The main focus of the DAA was to outperform low-risk portfolios.
  • Solid Prime (SO): This DAA advertises itself as the most balanced investment portfolio that traders can trust to make great returns. Some of the assets that the DAA focuses on include OmiseGo, Steem, Ethereum, and Golem.

b) The Iconomi DAA managers

When you decide to invest in Iconomi DAA, you have to trust that its managers will make the right decisions in your interest. Here, the target is ensuring that the managers have the requisite experience in running such portfolios for more returns. To promote openness, users are allowed to keep track of the respective managers’ history in similar tasks. However, this is not ample to earn users trust.

Iconomi safeguards the DAA manager’s credibility using a very strict screening process. Therefore, you can relax knowing that only the best are at the helm of every listed DAA. The top DAA at Iconomi is managed by Columbus Capital, a highly revered London investment management firm. Two of the Digital Asset Arrays under the Columbus Capital include Pinta and Blockchain Index.

c) The Iconomi Token (ICN)

To make transactions at Iconomi direct, easy, and reliable, the platform has its own native token referred as ICN. The token represents the shares that users hold on the platform.

Though the Iconomi team anticipated using the token for dividends, the model was later changed because of the complexity that would be involved transferring from one country to another. Iconomi has been buying back the tokens using its profits.

What makes Iconomi better than it’s competitors?

Since 2009 when Satoshi Nakamoto released the first blockchain, new cryptocurrencies have been entering the market at a very fast rate. But the high number of the digital assets has also made it extra difficult for users to invest especially when targeting several investment portfolios.

With Iconomi offering a new way of managing investment portfolios, here are the main advantages to expect from it.

  • Because DAAs are run by experts, it is relatively easy to pick the high profile cryptocurrencies that guarantee huge returns. Note that this happens under the close watch of expert managers who also help to ensure that ROI is optimized.
  • Unlike in the conventional asset management portfolios where only the elite could be involved, Iconomi has created a new model where every person can now join the preferred Digital Asset Array. No matter the amount you want to invest, Iconomi has a place for you.
  • Because the Digital Asset Arrays are run by experts, investors at Iconomi are assured of optimal returns. For example, you do not have to keep wondering about the possible price shifts in a selected cryptocurrency of interest. Let the experts work for you. They will check the cryptocurrencies, factor the expected risks, and other factors to raise the chances of making more for all users.
  • The Iconomi system has made the process of investing in multiple assets easy and direct. This implies that you do not only have to focus on one cryptocurrency or two. You can target multiple high potential cryptocurrencies and optimize returns.
  • The process of investing in assets is very easy at Iconomi. In other asset management portfolios, users have to follow lengthy procedures before they can become part of the schemes. However, Iconomi makes investing in DAA very simple. You only need to open an account and select the preferred DAA. Then, put the assets of choice and wait for returns.
  • Unlike most asset management portfolios where users’ assets are at great risk because they do not have control over the management, things are different at Iconomi. Iconomi screens all the managers are subjected to strict screening to ensure that they are committed to users’ assets management and growth.
  • The Iconomi platform, unlike other asset management systems, allows users to create their DAAs. This means that you do not have to simply follow the DAAs being presented there. You can create your own.

How can Iconomi be categorized?

Iconomi can be categorized as a revolutionary asset management platform that seeks to provide equal chances for all investors.

By decentralizing the portfolio, everybody can be involved in asset management. But this is not all. This is a great way of helping to take blockchain technology to the next level.

  • The Iconomi development team engages the most profitable digital assets in the market. This means that investors have the opportunity to look at the positive side of the blockchain technology and be part of it.
  • Most of the managers of different DAAs are experts who understand cryptocurrencies and their growth processes. They will, therefore, help to mitigate the risks that can make people incur losses and lose interest in cryptocurrencies.
  • Iconomi developers have demonstrated their commitment to growing the platform for faster adoption of blockchain technology. By adding new DAAs and managers, more people targeting short and long-term investment can now enjoy operating at the platform.

What’s Iconomi ’s vision on Security?

The main vision for Iconomi is becoming the most secure asset management platform in the market. This vision is achieved through a number of ways.

  • Iconomi is based on the highly secure Ethereum platform. Ethereum is one of the most established and secure platforms in the cryptocurrency market today. With Iconomi smart contracts and native tokens running on the Ethereum platform, it serves as an additional layer of security for Iconomi users.
  • To protect users’ assets, Iconomi employs multi-signature cold storage where all the users’ assets are moved after users deposit their cryptocurrencies. This implies that in the event of an attack, your assets would not be at risk.
  • By working with top-notch managers, investors in Iconomi DAA are assured that any risk will be easily identified. Whether it is a threat of loss through a shift in demand or attack, the managers are experts will easily see them and install mitigation measures.
  • The Iconomi system has some of the top tech developers always on the lookout and targeting to identify gaps and malware that can attack your system. Therefore, they always work on new updates that help to close gaps and keep the malware from the system.

For those who want to use ICN for additional investment to grow their portfolio or paying fees at the platform, it is important to take every precaution against attacks. Here are some useful tips to keep your tokens safe.

  • If you want to send value with ICN, it is important to always triple check the public address. This will help you avoid sending value to the wrong user because such a transaction will be irreversible.
  • Make sure to keep your private keys and the seed phrase safe to reduce the threat of loss. If you lose the private keys for your ICN wallet, the assets will be lost permanently unless seed phrase was stored safely.
  • Make sure to follow best practice when operating online. This involves backing up everything when operating online.
  • For those who opt to trade ICN directly on the exchanges, it is advisable to only use a secure exchange. This should be a system that is secured with features such as 2-factor authentication and use of cold wallet.

Examples of Iconomi use cases / applications

If you have been looking forward to investing in digital assets, the best option is looking for an asset management platform that can guarantee good returns such as Iconomi.

  • Because Iconomi is a decentralized system, you can opt to run a DAA hooked on it. This is one of the methods used to help diversify the offers available for users.
  • Most people coming to Iconomi focus on investing in the emerging and high return assets. For example, you can target the less valued yet high potential investments, especially when focusing on the long-term investment.
  • Iconomi is a great saving portfolio. If you have some funds and want to put them in a secure place, one of the top options is Iconomi. It is considered better because your funds will be put to different investments over time to generate interest.
  • If your target is sending value, one of the top assets to use is ICN. As an ERC based token, it implies that you can send value anonymously across the globe.
  • As an asset under the Iconomi platform, ICN can also be used for trading directly on the exchanges. Well, this option is for those who do not want to directly engage the Iconomi system. If you want to increase the trading portfolio, the better option is selecting the preferred DAA in the Iconomi system.

References

https://coincheckup.com/coins/Iconomi

https://www.iconomi.net/

https://medium.com/iconominet

https://medium.com/iconominet/iconomi-general-q-a-27e96f7f1d6f

https://coss.io/documents/white-papers/iconomi.pdf