How Does Sharding Work?
Firstly, you already know that the network is split into several shard chains, also known as data layers. These layers work independently, and they each have their own group of nodes. These participants—often called a committee—validate and process transactions for their specific shard. Essentially, when you initiate a transaction using a shard chain, it will first go to that shard’s designated validators.
To explain, a block is only broadcasted to the coordination layer once it’s validated by a shard chain’s nodes. At this point the coordination layer will check each block is valid. If it is, it will add the block to its records, and if it isn’t it will reject it. This helps the shard chains remain consistent with each other—essentially guaranteeing the security of the system. It also enables cross-shard communication, as this layer makes sure every shard is capable of reading the others’ data.
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Firstly, you already know that the network is split into several shard chains, also known as data layers. These layers work independently, and they each have their own group of nodes. These participants—often called a committee—validate and process transactions for their specific shard. Essentially, when you initiate a transaction using a shard chain, it will first go to that shard’s designated validators.
To explain, a block is only broadcasted to the coordination layer once it’s validated by a shard chain’s nodes. At this point the coordination layer will check each block is valid. If it is, it will add the block to its records, and if it isn’t it will reject it. This helps the shard chains remain consistent with each other—essentially guaranteeing the security of the system. It also enables cross-shard communication, as this layer makes sure every shard is capable of reading the others’ data.
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Benefits of Sharding
There are lots of benefits of sharding, however, the main two are increased TPS and transaction speed.
🎥 Increased Throughput
Since the network is divided into many shard chains and each shard chain has its own validators, the wider network can process a lot more transactions at the same time. This is a game-changer for extremely large and busy networks.
🎥 Increased Transaction Speed
Splitting the network into shards also means each shard is less burdened by the queue of transactions. Since each shard chain only receives a portion of the network’s blocks, nodes do not have to store as much data and there are fewer transactions in the queue. This means that validators can process your transactions much quicker than on traditional chains.
Risks of Sharding
So now you know that sharding enables scaling, which is important for any large blockchain. But like any new technology, it comes with its challenges. Let’s explore some of the drawbacks of sharding a blockchain network:
🎥 Centralization Risks
Since blockchain nodes are split between different chains, it leaves fewer nodes securing each shard. This makes it less decentralized and possibly opens up the door to validator centralization issues such as collusion or a 51% takeover. In short, sharding smaller networks could result in hackers targeting validators. The smaller the number of validators there are, the easier it is for bad actors to attack the system. However, sharding a busy enough network shouldn’t be an issue, as even in one shard, there should be enough validators to remain decentralized.
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There are lots of benefits of sharding, however, the main two are increased TPS and transaction speed.
Since the network is divided into many shard chains and each shard chain has its own validators, the wider network can process a lot more transactions at the same time. This is a game-changer for extremely large and busy networks.
Splitting the network into shards also means each shard is less burdened by the queue of transactions. Since each shard chain only receives a portion of the network’s blocks, nodes do not have to store as much data and there are fewer transactions in the queue. This means that validators can process your transactions much quicker than on traditional chains.
Risks of Sharding
So now you know that sharding enables scaling, which is important for any large blockchain. But like any new technology, it comes with its challenges. Let’s explore some of the drawbacks of sharding a blockchain network:
Since blockchain nodes are split between different chains, it leaves fewer nodes securing each shard. This makes it less decentralized and possibly opens up the door to validator centralization issues such as collusion or a 51% takeover. In short, sharding smaller networks could result in hackers targeting validators. The smaller the number of validators there are, the easier it is for bad actors to attack the system. However, sharding a busy enough network shouldn’t be an issue, as even in one shard, there should be enough validators to remain decentralized.
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🐯 Learning With Neko Week 51.
Hola, Necats, happy weekend today we'll talk about Ethereum Name Service (ENS)
What is ENS (Ethereum Name Service)?
Similar to how initially you’d have to use IP addresses on Web2, today, you are forced to use long alphanumeric values such as your wallet address or transaction hashes in the crypto and Web3 space. To solve this issue, we have ENS or Ethereum Name Service.
The primary role of ENS is to help you translate complex identifiers on Web3, such as crypto wallet addresses, hashes, and metadata, to readable names (domains). Which then get registered on the Ethereum blockchain.
So, using ENS, you can buy a domain such as batman.eth or cinderella.eth and link it to your Ethereum wallet address — that looks something like this: “0x3bsfjbk234basf8iwerb….” Now, every time you want to receive a payment, you can share your ENS domain instead of your complex wallet address.
That’s almost exactly like DNS, isn’t it?
Right. But the difference between ENS and DNS comes from their underlying architecture. ENS is built on top of the Ethereum blockchain — a decentralized network with no central entity controlling it. Furthermore, ENS replaces manually operated and controlled systems with automated smart contracts based on Ethereum.
Now, if you’ve carefully read our Academy articles, you know what difference that makes. It renders domains registered through ENS more private, secure, and censorship-resistant.
And once you own an ENS domain, you can easily create and own its subdomains. For example, if you own batman.eth, you can create subdomains such as donate.batman.eth or blog.batman.eth and configure them to take donations or share Batman’s day-to-day activities.
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Hola, Necats, happy weekend today we'll talk about Ethereum Name Service (ENS)
What is ENS (Ethereum Name Service)?
Similar to how initially you’d have to use IP addresses on Web2, today, you are forced to use long alphanumeric values such as your wallet address or transaction hashes in the crypto and Web3 space. To solve this issue, we have ENS or Ethereum Name Service.
The primary role of ENS is to help you translate complex identifiers on Web3, such as crypto wallet addresses, hashes, and metadata, to readable names (domains). Which then get registered on the Ethereum blockchain.
So, using ENS, you can buy a domain such as batman.eth or cinderella.eth and link it to your Ethereum wallet address — that looks something like this: “0x3bsfjbk234basf8iwerb….” Now, every time you want to receive a payment, you can share your ENS domain instead of your complex wallet address.
That’s almost exactly like DNS, isn’t it?
Right. But the difference between ENS and DNS comes from their underlying architecture. ENS is built on top of the Ethereum blockchain — a decentralized network with no central entity controlling it. Furthermore, ENS replaces manually operated and controlled systems with automated smart contracts based on Ethereum.
Now, if you’ve carefully read our Academy articles, you know what difference that makes. It renders domains registered through ENS more private, secure, and censorship-resistant.
And once you own an ENS domain, you can easily create and own its subdomains. For example, if you own batman.eth, you can create subdomains such as donate.batman.eth or blog.batman.eth and configure them to take donations or share Batman’s day-to-day activities.
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How to Get a .eth Domain?
You didn’t think we’d leave you without an easy-to-follow guide to buy yourself a .eth domain, did you? Here we go:
🎥 Step 1: Go to app.ens.domains and connect your preferred crypto wallet by clicking “Connect” on the top left corner.
🎥 Step 2: In the search tab, look up the .eth domain you’d like to own.
🎥 Step 3: If no one else has bought the domain yet, ENS will show the domain as “Available.”
🎥 Step 4: Once you click on the domain name, it will lead you to the registration page. You can add the number of years you want to register the domain for. Check the details of the transaction, and request to register.
🎥 Step 5: You will receive a request to approve the transaction from your connected wallet. Click “Confirm” to approve the transaction. If you don’t have Ethereum, you can buy ETH tokens via Ledger Live.
And tadaa! You will officially own a domain on Web3, which you can then connect to your wallet or use for whatever purpose you see fit.
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You didn’t think we’d leave you without an easy-to-follow guide to buy yourself a .eth domain, did you? Here we go:
And tadaa! You will officially own a domain on Web3, which you can then connect to your wallet or use for whatever purpose you see fit.
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🐯 Learning With Neko Week 52.
Hola, Necats, happy weekend today we'll talk about Tron (TRX)
What Is Tron (TRX)?
Tron is a blockchain-based project that launched in 2017. It was quite unique at the time in that it didn’t seek to advertise any cryptography or network design-related improvements.
The basic building blocks of Tron, such as decentralized applications (dApps ), smart contracts, tokens, or its delegated proof-of-stake consensus, were all pioneered by other projects. While some criticized the lack of innovation in the project, many approved the use of already-tested features rather than trying to build something new by all means. This allowed for a greater focus on user experience and design, as well.
The TRX cryptocurrency gained even greater mainstream attention in 2018 when the non-profit development company behind Tron, the Tron Foundation, acquired peer-to-peer content sharing platform BitTorrent.
#NekoLearn @OriNeko
Hola, Necats, happy weekend today we'll talk about Tron (TRX)
What Is Tron (TRX)?
Tron is a blockchain-based project that launched in 2017. It was quite unique at the time in that it didn’t seek to advertise any cryptography or network design-related improvements.
The basic building blocks of Tron, such as decentralized applications (dApps ), smart contracts, tokens, or its delegated proof-of-stake consensus, were all pioneered by other projects. While some criticized the lack of innovation in the project, many approved the use of already-tested features rather than trying to build something new by all means. This allowed for a greater focus on user experience and design, as well.
The TRX cryptocurrency gained even greater mainstream attention in 2018 when the non-profit development company behind Tron, the Tron Foundation, acquired peer-to-peer content sharing platform BitTorrent.
#NekoLearn @OriNeko
How Does Tron (TRX) Work?
The Tronix network works on a few principles, with the first being decentralization. All data on the blockchain is completely free and not controlled by any central authority. Content creators are able to gain the TRX token as a reward for posting their content.
Tron works on a delegated proof-of-stake consensus mechanism. In this system, transactions are validated by 27 super representatives that are entrusted to maintain the transaction history. Super representatives are chosen every six hours, and earn TRX coin generated by the mechanism as a reward for their services.
The Tron blockchain gets a new block added every 3 seconds, and those that added the block get awarded 32 TRX tokens.
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The Tronix network works on a few principles, with the first being decentralization. All data on the blockchain is completely free and not controlled by any central authority. Content creators are able to gain the TRX token as a reward for posting their content.
Tron works on a delegated proof-of-stake consensus mechanism. In this system, transactions are validated by 27 super representatives that are entrusted to maintain the transaction history. Super representatives are chosen every six hours, and earn TRX coin generated by the mechanism as a reward for their services.
The Tron blockchain gets a new block added every 3 seconds, and those that added the block get awarded 32 TRX tokens.
#NekoLearn @OriNeko
🐯 Learning With Neko Week 53.
Hola, Necats, happy weekend today we'll talk about Soneium
Introduction to Sony's Blockchain Venture: Soneium
Sony has entered the Web3 space with the Soneium blockchain, marking a big step in using blockchain technology.
Created by Sony Block Solutions Labs (Sony BSL) and Startale Labs, Soneium aims to connect blockchain with everyday applications. The Soneium Minato public testnet and the Soneium Spark incubator are key parts of this plan, helping to drive innovation and Web3 adoption.
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Hola, Necats, happy weekend today we'll talk about Soneium
Introduction to Sony's Blockchain Venture: Soneium
Sony has entered the Web3 space with the Soneium blockchain, marking a big step in using blockchain technology.
Created by Sony Block Solutions Labs (Sony BSL) and Startale Labs, Soneium aims to connect blockchain with everyday applications. The Soneium Minato public testnet and the Soneium Spark incubator are key parts of this plan, helping to drive innovation and Web3 adoption.
#NekoLearn @OriNeko
Understanding the Soneium Blockchain
Soneium is a layer-2 blockchain on Ethereum, offering a fast and cost-effective environment for developers. It is 100% compatible with EVM, is scalable, and efficient, making it suitable for entertainment, gaming, finance, and more. Unlike older blockchains, Soneium solves slow speeds and high fees, making it more user-friendly. It can be used in many areas, like improving Web3 games and NFT markets or supporting decentralized finance (DeFi). By leveraging the Op Stack and Superchain from the Optimism Foundation, Soneium provides a strong and scalable setup for developers to innovate.
#NekoLearn @OriNeko
Soneium is a layer-2 blockchain on Ethereum, offering a fast and cost-effective environment for developers. It is 100% compatible with EVM, is scalable, and efficient, making it suitable for entertainment, gaming, finance, and more. Unlike older blockchains, Soneium solves slow speeds and high fees, making it more user-friendly. It can be used in many areas, like improving Web3 games and NFT markets or supporting decentralized finance (DeFi). By leveraging the Op Stack and Superchain from the Optimism Foundation, Soneium provides a strong and scalable setup for developers to innovate.
#NekoLearn @OriNeko
🐯 Learning With Neko Week 54.
Hola, Necats, happy weekend today we'll talk about POL (polygon)
What is Polygon Ecosystem Token (POL)?
The Polygon ecosystem is on the cusp of a significant transformation with a proposal to transition its native token from MATIC to POL. This proposed change aims to enhance the utility and functionality within the network. POL, poised to become the upgraded native token of the Polygon ecosystem, is designed to facilitate a broad spectrum of activities central to network operations, including participation and bolstering network security. As an integral part of the ecosystem, POL will allow stakeholders to actively engage as validators through staking, thereby contributing to the overall health and security of the network.
The POL token, mirroring many of MATIC’s characteristics, will be based on OpenZeppelin’s ERC20 implementations and will support EIP-2612 for signature-based permit approvals. This transition is planned to be seamless, ensuring compatibility and continuity for node operators, delegators, and application developers within the Polygon ecosystem. The initial supply of POL tokens is set to be 10 billion, maintaining a 1:1 ratio with the existing supply of MATIC, symbolising a direct upgrade rather than the introduction of an entirely new token.
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Hola, Necats, happy weekend today we'll talk about POL (polygon)
What is Polygon Ecosystem Token (POL)?
The Polygon ecosystem is on the cusp of a significant transformation with a proposal to transition its native token from MATIC to POL. This proposed change aims to enhance the utility and functionality within the network. POL, poised to become the upgraded native token of the Polygon ecosystem, is designed to facilitate a broad spectrum of activities central to network operations, including participation and bolstering network security. As an integral part of the ecosystem, POL will allow stakeholders to actively engage as validators through staking, thereby contributing to the overall health and security of the network.
The POL token, mirroring many of MATIC’s characteristics, will be based on OpenZeppelin’s ERC20 implementations and will support EIP-2612 for signature-based permit approvals. This transition is planned to be seamless, ensuring compatibility and continuity for node operators, delegators, and application developers within the Polygon ecosystem. The initial supply of POL tokens is set to be 10 billion, maintaining a 1:1 ratio with the existing supply of MATIC, symbolising a direct upgrade rather than the introduction of an entirely new token.
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The introduction of POL marks a significant step in the progression of the Polygon 2.0 roadmap. This includes the development of a new staking layer within the Polygon ecosystem, transitioning the existing PoS network to a zkEVM Layer-2 structure, and establishing a unified liquidity protocol that spans all Polygon networks, as per the team’s statement.
Polygon Labs initially unveiled plans for developing this new Layer-2 ecosystem, termed “Polygon 2.0,” on June 29, 2023. Subsequently, on September 14th, 2023 the introduction of a new token, POL, for Polygon 2.0 was announced. However, at that time, POL was merely a proposed idea and had not yet been launched on the Ethereum network.
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Polygon Labs initially unveiled plans for developing this new Layer-2 ecosystem, termed “Polygon 2.0,” on June 29, 2023. Subsequently, on September 14th, 2023 the introduction of a new token, POL, for Polygon 2.0 was announced. However, at that time, POL was merely a proposed idea and had not yet been launched on the Ethereum network.
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How will Polygon Work after the Polygon Ecosystem Token Upgrade?
First and foremost, POL aims to bolster ecosystem security. It’s designed to create a large, decentralised pool of validators to run and secure any Polygon chain, rewarding validators for their contributions and penalising any malicious activities. Secondly, POL is integral to achieving infinite scalability within the Polygon ecosystem. It supports the expansion of the validator pool, enabling the network to potentially manage thousands of Polygon chains, a crucial step towards what is termed as “hyperblockchainization.”
From a utility perspective, POL serves multiple functions. Validators will be required to stake POL to join the validator pool, increasing the ecosystem’s security through mechanisms like preventing Sybil attacks and enabling slashing for malicious validators. To incentivize validators, POL will be distributed as protocol rewards, proportional to the amount staked.
Regarding supply and emission, POL features a predefined emission rate, serving two primary purposes: validator rewards and ecosystem support. The proposed yearly emission rate of 1% of the POL supply for each purpose ensures a balance between providing adequate support to the ecosystem and maintaining token scarcity, a vital aspect for network security and market attractiveness. This emission policy, predictable and potentially modifiable by community governance, aims to nurture a stable and attractive economic environment conducive to the growth and adoption of the Polygon ecosystem.
#NekoLearn @OriNeko
First and foremost, POL aims to bolster ecosystem security. It’s designed to create a large, decentralised pool of validators to run and secure any Polygon chain, rewarding validators for their contributions and penalising any malicious activities. Secondly, POL is integral to achieving infinite scalability within the Polygon ecosystem. It supports the expansion of the validator pool, enabling the network to potentially manage thousands of Polygon chains, a crucial step towards what is termed as “hyperblockchainization.”
From a utility perspective, POL serves multiple functions. Validators will be required to stake POL to join the validator pool, increasing the ecosystem’s security through mechanisms like preventing Sybil attacks and enabling slashing for malicious validators. To incentivize validators, POL will be distributed as protocol rewards, proportional to the amount staked.
Regarding supply and emission, POL features a predefined emission rate, serving two primary purposes: validator rewards and ecosystem support. The proposed yearly emission rate of 1% of the POL supply for each purpose ensures a balance between providing adequate support to the ecosystem and maintaining token scarcity, a vital aspect for network security and market attractiveness. This emission policy, predictable and potentially modifiable by community governance, aims to nurture a stable and attractive economic environment conducive to the growth and adoption of the Polygon ecosystem.
#NekoLearn @OriNeko
🐯 Learning With Neko Week 55.
Hola, Necats, happy weekend today we'll talk about Movement Network
Movement Network is an ecosystem of Modular Move-Based Blockchains that enables developers to build secure, performant, and interoperable blockchain applications, bridging the gap between Move and EVM ecosystems. Movement Network is first Move-EVM L2 for Ethereum, alongside open-source tooling and protocols to facilitate the adoption of the Move programming language across blockchain ecosystems.
With Movement, developers can launch high-performance Move VM rollups with ease. Backed by Polychain Capital, Binance Labs, Hack VC, Placeholder, and Archetype, Movement Labs revolutionizes blockchain interoperability and advance Move-based technologies in the Web3 space.
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Hola, Necats, happy weekend today we'll talk about Movement Network
Movement Network is an ecosystem of Modular Move-Based Blockchains that enables developers to build secure, performant, and interoperable blockchain applications, bridging the gap between Move and EVM ecosystems. Movement Network is first Move-EVM L2 for Ethereum, alongside open-source tooling and protocols to facilitate the adoption of the Move programming language across blockchain ecosystems.
With Movement, developers can launch high-performance Move VM rollups with ease. Backed by Polychain Capital, Binance Labs, Hack VC, Placeholder, and Archetype, Movement Labs revolutionizes blockchain interoperability and advance Move-based technologies in the Web3 space.
#NekoLearn @OriNeko
Hola, Necats, happy weekend today we'll talk about BeraChain
What is Berachain?
Berachain is a Layer 1 blockchain that merges EVM-identical compatibility with a Proof-of-Liquidity (PoL) consensus model. This setup allows Berachain to quickly adopt Ethereum upgrades like Dencun, while leveraging unmodified EVM clients such as Geth and Nethermind. PoL aligns incentives across validators, protocols, and liquidity providers, enhancing both network security and liquidity efficiency.
What is Proof-of-Liquidity?
Proof-of-Liquidity (PoL) is a unique consensus mechanism that secures the network by encouraging liquidity contributions.
Unlike traditional Proof-of-Stake (PoS) systems, PoL asks validators to not only stake $BERA but also direct liquidity into the ecosystem. This setup aligns validators, protocols, and liquidity providers toward growing the network while keeping it secure.
Here’s an overview of how PoL works within Berachain :
The advantage of PoL over standard PoS is its ability to reward not just staking, but also liquidity provision, creating a more balanced and growth-driven network environment.
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Berachain operates with a tri-token model, consisting of BERA, BGT, and HONEY. Each token plays a specific role in maintaining network functionality, governance, and liquidity.
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Hola, Necats, happy weekend today we'll talk about Grass.
What is Grass ?
Grass is a crypto project developed by Wynd Network that allows users to monetize their unused network resources by adding their internet-connected devices to the network. The project aims to provide a way for individuals to sell their unused internet bandwidth to carefully vetted companies. When users are not utilizing their full bandwidth, the unused portion can be harnessed for data scraping purposes by companies, for instance, to compare market prices or verify ad displays across different regions.
Centralized proxy providers dominate the residential IP market, often selling individual's unused bandwidth without their consent, benefiting middlemen without compensating the actual users. Grass seeks to revolutionize this by launching a decentralized proxy market, rewarding users with tokens for their network resources. These tokens also empower users with governance rights, fostering a more democratic, ethical, and secure network-sharing ecosystem.
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Hola, Necats, happy weekend today we'll talk about HyperLiquid.
What is HyperLiquid ?
Hyperliquid is a decentralized exchange that focuses on order book perpetual futures. It provides functionalities similar to centralized exchanges while operating on-chain. The exchange is powered by Hyperliquid L1, a blockchain specifically created for this purpose, utilizing Tendermint for consensus mechanisms. This blockchain efficiently handles all exchange operations such as orders, cancellations, trades and liquidations on-chain, achieving block latency of less than one second. It is capable of processing up to 20,000 orders per second.
Hyperliquid aims to facilitate cryptocurrency trading for all users by ensuring transparency, lowering costs and providing effective execution. The organization is dedicated to ensuring open access to trading markets and the principle of self-custody. The overarching goal is to be recognised as a reliable platform for futures trading.
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Hola, Necats, happy weekend today we'll talk about HyperLane.
What is Hyperlane?
Hyperlane, previously known as Abacus, is an innovative cross-blockchain interconnection platform. It offers a comprehensive suite of APIs for seamless interchain communication, along with a powerful software development kit (SDK) that empowers developers to create cutting-edge interchain decentralized applications (DApps).
With the Hyperlane SDK, developers can effortlessly build interchain applications that leverage the potential of multiple blockchains. Alternatively, they can utilize the Hyperlane APIs to enhance the interchain capabilities of their existing dApps, tokens, and NFTs. This flexibility allows developers to unlock new possibilities and expand the functionality of their blockchain projects.
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Hola, Necats, happy weekend today we'll talk about Eclipse.
Eclipse is a Layer 2 (L2) blockchain that uses the Solana Virtual Machine (SVM) for execution and is designed to be highly scalable and low cost:
Solana Virtual Machine (SVM): Eclipse uses SVM for execution, which is known for its high performance, low cost, and scalability. SVM allows for parallelism, which means multiple transactions can be processed simultaneously.
Eclipse's goal is to enable "turbo-charged" applications that take advantage of the newfound performance and liquidity to offer seamless user experiences.
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Neko 🐯
Hey everyone. happy weekend, I've got two options for us to talk about Prediction Markets Tokens. Pick the one you're interested in discussing.
What is Gnosis?
Gnosis (GNO) is a cryptocurrency that provides a decentralized prediction market platform. The goal of the Gnosis platform is to create an open, transparent, and decentralized space where users can share and trade predictions. With Gnosis, users can place bets on events such as political elections, sports events, and stock prices.
The aim of Gnosis is to decentralize the prediction market and make it accessible to a broad audience. Gnosis was founded in 2015 and is built on the Ethereum blockchain. With its innovative approach to decentralized prediction markets and secure solutions, Gnosis has the potential to become a significant player in the blockchain industry.
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Gnosis (GNO) is a cryptocurrency that provides a decentralized prediction market platform. The goal of the Gnosis platform is to create an open, transparent, and decentralized space where users can share and trade predictions. With Gnosis, users can place bets on events such as political elections, sports events, and stock prices.
The aim of Gnosis is to decentralize the prediction market and make it accessible to a broad audience. Gnosis was founded in 2015 and is built on the Ethereum blockchain. With its innovative approach to decentralized prediction markets and secure solutions, Gnosis has the potential to become a significant player in the blockchain industry.
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Neko 🐯
Hey everyone. happy weekend, I've got two options for us to talk about Prediction Markets Tokens. Pick the one you're interested in discussing.
How does Gnosis work?
Gnosis (GNO) is built on the Ethereum network and creates prediction markets based on smart contracts. Users make predictions about future events and bet on the outcomes of those events.
When a user makes a prediction, a market is created with various outcomes and an initial price for each of those outcomes. Other users can then bet on one of the outcomes by buying GNO tokens and placing them on their chosen outcome. As more users bet on a particular outcome, the price of that outcome will rise, while the prices of other outcomes will fall.
If the prediction comes true, automatic payouts are made to users who made the correct prediction. Users who chose the wrong outcome lose their bets.
#NekoLearn @OriNeko
Gnosis (GNO) is built on the Ethereum network and creates prediction markets based on smart contracts. Users make predictions about future events and bet on the outcomes of those events.
When a user makes a prediction, a market is created with various outcomes and an initial price for each of those outcomes. Other users can then bet on one of the outcomes by buying GNO tokens and placing them on their chosen outcome. As more users bet on a particular outcome, the price of that outcome will rise, while the prices of other outcomes will fall.
If the prediction comes true, automatic payouts are made to users who made the correct prediction. Users who chose the wrong outcome lose their bets.
#NekoLearn @OriNeko