Predict the Future, Win Valuable Prizes
Gnosis, the first incubation project of ethereum development firm ConsenSys, has set a new platform that enables the creation and customization of any prediction market using crowdsourced wisdom from individuals across the globe.
The company’s advisory board includes ethereum founders Vitalik Buterin and Joseph Lubin.
The platform allows anyone to create a market on the outcome of a specific event and lets people around the world predict the likelihood of the outcome. When the event occurs, the market rewards participants who accurately predicted the event.
The platform collects information by financially incentivizing good information and disincentivizing bad information. Gnosis aggregates all information sources and creates data layers for probabilities, giving each future outcome a quantified probability of occurring. This data feed can be used for any third-party application and can power Artificial Intelligence.
The company said developers can build applications on top of the Gnosis platform using a JavaScript library that allows them to communicate with the app’s smart contracts and oracle platform (which pulls in information from the outside world).
“Gnosis is part of a new wave of decentralized platforms, key to which is permissionless innovation,” said Gnosis co-founder Martin Köppelmann. “Having an open platform with verifiable behavior introduces an incredible opportunity to bring a wide range of applications onto Gnosis, many of which we never anticipated. Gnosis lowers the barrier to entry for new applications spanning industries and interests.”
