We conducted an interview with Gnosis Chain to find out how they became one of the most decentralized chains in Web3 and to gain insights into their future plans.
What is Gnosis Chain and what does it hope to accomplish for Web3?
Gnosis Chain is an EVM-compatible Layer-1 blockchain that aspires to be the most secure, resilient and credibly neutral blockchain, buttressed by a deeply decentralized network secured by our growing number of over 100K validators.
What are the differentiating features of Gnosis Chain and how does it differ from other projects with a similar mission?
Unlike other blockchain networks that prioritize scalability, we firmly believe in the value of decentralization. In the trilemma of scalability, decentralization, and security, we do not compromise on our ethos of decentralization throughout our entire suite of products, components and initiatives. We know that inexpensive block space is a commodity, whereas decentralized block space is a scarce resource and strive to provide the community with a strong network.
For non-crypto natives, what does Gnosis Chain plan to bring to the user experience of crypto, and what will be its main applications?
Gnosis Chain will support a diverse range of decentralized use cases, such as privacy solutions, identity management systems, decentralized finance (DeFi) applications, decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and much more.
Can you introduce your team to the readers? What relevant experience do they have and what projects have inspired them in their designs?
The team behind Gnosis has an impressive track record in the blockchain industry. They launched the first decentralized application on Ethereum, contributed to the development of Ethereum, and created several innovative projects, including Safe (formerly Gnosis Safe), CowSwap, Zodiac, Circles, Gnosis Auction, and other important blockchain infrastructure initiatives.
How did you achieve your funding requirements? Was it from an exclusive token sale or private funding? When was it?
The Gnosis ICO, which took place on April 24th, 2017, was widely recognized as one of the most successful ICOs in the blockchain industry, both in terms of the amount of funds raised and the speed of the sale. The success of the ICO has provided Gnosis with the resources to continue developing and expanding its platform and network.
What parts of the Gnosis Chain roadmap is the team most excited for?
Gnosis Chain’s technical roadmap is filled with exciting developments, including support for account abstraction, shutterized beacon chain, and trustless cross-chain bridges. Additionally, we are enthusiastic about several initiatives aimed at onboarding validators from all around the world.
For those interested in participating in validation for Gnosis Chain, Validate Gnosis provides step-by-step setup guides that walk you through the process to help you get up and running smoothly.
Where do you see Gnosis Chain in 5 years? What does it look like when Gnosis Chain is mass-adopted?
We believe that the Gnosis Chain will host a flourishing and dynamic ecosystem of decentralized applications and bring forth numerous new use cases and possibilities to the blockchain space.
How does the Gnosis Chain architecture differ from other blockchains? Why was this approach chosen?
Gnosis Chain is committed to decentralization and will always remain compatible with Ethereum. To ensure decentralization, we are focused on distributing validators across different geographical regions and supporting diverse execution clients. You can view our decentralization dashboard here.
What is the primary use case of the Gnosis token?
The Gnosis token, GNO, is an ERC-20 token on Ethereum and on the Gnosis Chain. It is used to govern the GnosisDAO ecosystem. GNO token holders have the ability to vote on governance proposals related to the platform’s development and operation, as well as receive a share of staking rewards by being a validator on the Gnosis Beacon Chain.
Why should users stake Gnosis and what benefits should they expect outside of normal staking rewards?
By staking just 1 GNO, you can participate, contribute, and become a part of a community that values and advocates for decentralization. Join us in supporting a more equitable and decentralized future!
How does Gnosis improve the utility of Ethereum?
The Gnosis team has been actively contributing to Ethereum Improvement Proposals (EIPs) and will continue to do so in the future.
What is the best way to get GNO for staking?
GNO tokens are used for staking to secure Gnosis-validated blocks as part of the Proof of Stake consensus. You can find several ways of obtaining GNOs here.
What was the thinking behind the Gnosis DAO, as opposed to other structures you could have chosen?
The Gnosis team’s decision to convert the company into a DAO was driven by the commitment to decentralization and community ownership. A DAO structure would enable Gnosis to better achieve these goals, by empowering community members to have a direct say in the direction of the project and promoting a more equitable distribution of power and resources. Additionally, the DAO structure aligns with the team’s broader vision of creating a more decentralized and democratized world.
What is Gnosis builders?
Gnosis Builders is the ecosystem team responsible for growing a vibrant and healthy network of developers, projects, users, and validators on the Gnosis Chain. You can visit their website here and reach out to them here.
Where is the best place for the community to interact with you?
Discord is the most efficient way to interact with the Gnosis team.
Which wallet supports Gnosis Chain?
Any wallet that supports EVM chains likely can support Gnosis Chain. We’ve identified a list of wallets that support Gnosis Chain, which you can find here.
Why is Staking Rewards the best partner for your project?
Staking rewards serve as a crucial channel for onboarding and interacting with validators worldwide, and we are thrilled to partner with them in furthering our shared mission of promoting decentralization. Check out the Gnosis asset page for more information on staking Gnosis.