Gnosis GNO to Penta PNT Exchange

Crypto Pair Details: GNO to PNT

Gnosis GNO

Gnosis is a prediction market platform built as a decentralized application (dapp) on the Ethereum network. The platform includes a multisig wallet as well as a Dutch Exchange, but we’re just going to focus on their flagship product, the prediction market, for this guide. More than just building a prediction market, though, Gnosis is creating an entire infrastructure layer that you can use to build your own prediction market app. A prediction market utilizes user predictions to aggregate information about future events. Users in the market trade tokens that represent the outcome of a certain event. Because some outcomes are more likely to occur than others, these tokens end up having different values in the open market.Olympia is Gnosis’s test version of their prediction market app. They host free tournaments in this product, so you get a chance to try it out without having to spend money. Every two days, the team allocates you a certain amount of Olympia (OLY) tokens that you use to bet on different prediction markets. If you do well in the market, you win Gnosis (GNO) tokens. You can sell GNO on the open market which gives them some monetary value. The next phase of Gnosis is its Management Interface. The team released a beta version in December 2017 but haven’t announced a date for the main net release. The Management Interface is basically your dashboard for Gnosis’s prediction markets. It’s here that you check your balance, participate in markets, and even create your own market. Gnosis includes two types of tokens: Gnosis (GNO) and OWL. GNO are the ERC20 tokens that the team sold during their ICO. They created 10 million GNO tokens and aren’t minting any additional ones. These are the tokens that you see being traded on the open market. By staking GNO, you receive OWL tokens. To do this, you must lock your GNO in a smart contract making them non-transferable. The amount of OWL you receive is dependent on the length of your lock period as well as the total supply of OWL tokens in the market. The team is aiming to have 20x more total OWL than the average amount of monthly OWL usage over the previous 3 months. The Gnosis team is led by Martin Köppelmann (CEO), Stefan George (CTO), and Dr. Friederike Ernst (COO). Köppelmann and George began working on the platform in January 2015 as one of the first ConsenSys partners. By August of that same year, they launched the alpha product as the first major dapp on Ethereum. In April 2017, the project held somewhat of a controversial Initial Coin Offering (ICO). Using a dutch auction style of raising funds, the team hit their $12.5 million hard cap in ten minutes while retaining 95% of the tokens. Amidst backlash, the team locked the tokens in a vault and have promised not to dump them on the market. They’ll give at least a three-month warning before selling any of the tokens. The team includes quite a list of reputable advisors including Joseph Lubin (Ethereum co-founder and ConsenSys founder) and Vitalik Buterin (Ethereum founder and chief scientist).

Penta PNT

Penta Network is a next-generation platform for both public and private blockchain projects, designed to be a premier platform for transferring value and operating high-performance decentralized applications. Penta will remove roadblocks and reshape the blockchain landscape with an emphasis on impacting the real economy and improving productivity. With its unique consensus algorithm (DSC) and a distributed network architecture, Penta is building the world’s most inclusive, equitable, and distributed blockchain community. Penta Network will provide a fully integrated network infrastructure enabling people, businesses, and communities to exchange things of value in a secure, seamless, and efficient way. The Penta Network will provide the kind of infrastructure needed to power the Smart Economy of tomorrow. The Penta public blockchain is a “smart decentralized” blockchain with a unique consensus algorithm DSC, which balances quantum resistant security with decentralization and scalability. Only by balancing these elements can public blockchains reach their full promise. Building on its underlying blockchain infrastructure, Penta offers a high-performance DAPP platform that ensures scalability, security and efficiency. The Penta DAPP Layer will empower developers to commercially deploy applications solving real-world issues. The Connection Layer' enables Penta to be compatible with other blockchains, with existing networks like online platforms and cloud computing systems, and with off-chain systems. We call Penta the Universal Blockchain Connector because it solves the interoperability problem so that applications launched on Penta can traverse digital networks to be productive in the real economy.

SOURCE: COINGECKO

instantcryptocurrencyexchange Statistics

Instant Cryptocurrency Exchange Platform