Try Quests to earn cryptoWhat's Going On With Gnosis?
What is Gnosis?
What Is Gnosis (GNO)?
Gnosis is an open-source, decentralized prediction market built on the Ethereum blockchain. Users are able to create markets where they can speculate on any event or arbitrary outcome.
By using the Ethereum Protocol, Gnosis is able to guarantee a secure and transparent ecosystem. The Gnosis protocol aims to shift the paradigm by providing the world’s most efficient forecasting tool and setting a global standard for prediction markets.
How do Gnosis Work?
Gnosis offers 3 main products for users of GNO and these products use 3 separate layers to deliver a proper experience for users.
The Gnosis Core Layer provides the foundational smart contracts for the Gnosis platform. The Gnosis Service Layer offers resources for consumer applications and is used for tools like chatbots and stable coins. Finally, the Gnosis Applications Layer which contains primarily front-end tools that target particular prediction markets or select customer segments. Some of the applications are built by Gnosis and some are built by 3rd parties. \n \n The Apollo Network (Gnosis’ prediction market) allows a user to create a market for any arbitrary event where users can buy and sell positions to speculate on the outcome. As time passes or related events unfold, certain outcomes are more likely to happen which increases the value of the related tokens. Once the event has finalized, the tokens representing the final outcome receive the full value of the bets while the rest of the tokens for the other outcome become worthless.
Question
There’s been some unusual activity with Gnosis as pointed out by our community. Time to figure out exactly what’s going on.
Take a deep dive into recent activity on Gnosis, especially recent rapid rises in the number of active users, transactions, and more. Make any hypothesis you can about what is driving this activity. Is there a new dapp that launched? Is there some incentive program going on? Or is the spike in users/txns due to some sybil attack?
Methodology
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In this dashboard we will see the growth of the Gnosis activity chain and check how it happened
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In this case, we have used the following tables
gnosis.core.fact_transactions , gnosis.core.fact_blocks
Gnosis Overview
Observations
- According to the above chart, the new user has decreased significantly.
- There are more than 1.97 million users in the Gnosis chain.
- In the month of October, especially in the first month, the number of transactions and users has increased significantly.
- Top 10 Weekly New Gnosis Wallets
- Top 10 Weekly Gnosis Transactions
Gnosis change
Observations
- At the beginning of October, the transactions of each block have increased to more than 16.
- At the beginning of October, the number of transactions per hour has grown significantly, up to 12,000 per hour.
- In the beginning of October, the price of gas has decreased significantly in its transactions.
Rinkeby-xDai AMB
Observations
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The addresses sent transactions per hour sent out about 2K - 5K are as follows
0xf38f1a8e0dab6a8df95a29135796ae39137b9cee , 0x0681f11412c27035f694d7bd6691bf03fb413ff3 , and 0xcbfe6a67319d85b0ad56fd4d7d6d13c26e141904 -
All three addresses sent to Rinkeby-xDai AMB failed
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From these results, it can be concluded that these actions are spam / network attack
Conclusion
- Gnosis Activity Overview
- According to the above chart, the new user has decreased significantly.
- There are more than 1.97 million users in the Gnosis chain.
- In the month of October, especially in the first month, the number of transactions and users has increased significantly.
- Top 10 Weekly New Gnosis Wallets
- Top 10 Weekly Gnosis Transactions
- Gnosis activity change
- At the beginning of October, the transactions of each block have increased to more than 16.
- At the beginning of October, the number of transactions per hour has grown significantly, up to 12,000 per hour.
- In the beginning of October, the price of gas has decreased significantly in its transactions.
- Rinkeby-xDai AMB Activity
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The addresses sent transactions per hour sent out about 2K - 5K are as follows
0xf38f1a8e0dab6a8df95a29135796ae39137b9cee , 0x0681f11412c27035f694d7bd6691bf03fb413ff3 , and 0xcbfe6a67319d85b0ad56fd4d7d6d13c26e141904 -
All three addresses sent to Rinkeby-xDai AMB failed
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From these results, it can be concluded that these actions are spam / network attack
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