Gnosis was introduced in 1 May 2017 with Martin Köppelmann as its founder. Gnosis works like a prediction market, allowing people to create arbitrary events where you can bet tokens on things like, who will win the elections or who will win the football championship. State channels allow transactions to occur without requiring them to be sent to the blockchain immediately. Transactions are exchanged off-chain in the form of signed messages which guarantee the transaction’s future execution on the blockchain. Gnosis uses proof of work to create new coins. Since Gnosis is built on Ethereum, block time and transaction fees will depend on Ethereum blockchain.
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