Gnosis Chain X GetBlock AMA Session Recap
On 20th of January we had a short but definitely informative Interview with Gnosis Chain, Joan Williams, from GetBlock team, was glad to interview Shantelle, the member of Gnosis Builders Ecosystems. Gnosis Chain is an EVM-compatible scaling solution designed for low-cost, high-speed transactions. GetBlock’s solution for Gnosis Chain is a plug-and-play one: crypto entrepreneurs don’t need to manage their own servers and nodes anymore.
J: Let me introduce myself, I’m Joan Williams, the head of the marketing department at Getblock, a top-tier Blockchain RPC provider that provides you instant API access to multiple Nodes including Gnosis Chain. So we’ve asked our community to share all the questions they have about Gnosis, gathered them in one place, and here we go:
How many dApps are powered by Gnosis? Can you tell more about them?
S: We publish an ecosystem map every month that has around 170 projects deployed on Gnosis Chain
DeFi, NFTs, DAOs & Tooling, Gaming and infrastructure. For instance: Gnosis Safe, the decentralized multisig wallet for DAOs. Azuro is leading decentralized betting protocol. POAPs prove that you’ve attended an event virtually or in-person & Over 5 million POAPs have been minted on Gnosis Chain to date. Request Network is a payment protocol that services over 2,000 companies & DAOs.
Also, I would pay your attention to 2023 trends on Gnosis Chain to watch out for. We have to decouple demand for blockchain from pure crypto intrinsic demand making it part of everyone’s daily transactions. This will drive blockchain demand.
- Real-world assets (RWA), tangible assets or financial primitives with the potential to serve as collateral in the DeFi industry.
- Integration of blockchain into the old world of payments. To get out of the speculative bubble, connecting blockchain to “the real world” will be key.
J: I’ve seen the Gnosis Ecosystem image in 2023 and it’s vibrant, like I’d really like to attach the image to the thread
J: What’s the main problem in DAOs from your Point of view?
S: Tooling Solution: There are a variety of DAO tools on Gnosis chain that help solve the above issues:
- Gnosis Guild’s Zodiac: Open source operating standard to establish DAOs;
- Gnosis Safe: Safe is an easy way to implement Zodiac in a straightforward and non-technical way. You literally can create one right now as you listen to us chat. It is built into the safe app;
- DAOHaus, 1Hive (also dao management tools);
- Karpatkey/Hedgey Finance: DAO treasury management
J: I’ve always read that since DAOs are purely digital and decentralized, they often lack a well-developed and efficient infrastructure. But this does not apply to GnosisDAO, which is providing a seamless end-user experience and ensuring that Gnosis infrastructure is maximally decentralized and resilient.
What advice would you give a startup that I would build on Gnosis Chain, what could make it successful?
S: Community is everything: join our telegram & discord groups
Get in contact with us! We are able to provide support in numerous ways:
- We’re happy to run co-marketing campaigns
- We are able to provide a degree of technical support
- We offer grant funding for open source public good projects
- We also have Gnosis ventures which provides funding for commercials projects
J: Gnosis has obviously been on a highly successful journey, now we know what partly helped to achieve that, community is a truly important part in the success of the project.
What makes Gnosis different from other scaling solutions?
S: Gnosis Chain is not just a scaling solution, Stefan George, the co-founder and CTO at Gnosis has openly said that “when faced with the trilemma of scalability, decentralization and security, we focus on decentralization,” and that “Contrary to many ‘Ethereum killers,’ which favor scalability over decentralization, cheap blockspace is a commodity whereas decentralized blockspace is a scarce resource.”
Gnosis Chain underwent the merge from POA to POS on 8th December 2022 meaning that Gnosis Chain has the 2nd largest number of validators after Ethereum , we currently have 113k validators securing the network — all of this can be monitored at gnosispools.info.
The number of validators isn’t the only important metric, we are actively working to increase our Nakamoto’s coefficient by distributing our validator set in terms of geography, cloud service providers and clients used etc. At a high level Nakamoto’s coefficient can be used to measure the level of decentralization in a blockchain protocol by analyzing the similarity between nodes in the network. The higher the Nakamoto coefficient the more decentralized the network is.
Resilient projects build on top of Gnosis Chain due to our focus on decentralization, projects like Tornado Cash.
J: What are the development plans for Gnosis q1 2023?
S: First of all, Validators: Validator incentive programme & Stakewise Collab.
Secondly, ecosystem team is focusing on payment protocols and their applications.
Also the organization development: building momentum with a clear vision and roadmap, building basic team practices, knowledge management. All of these will help us create a decentralized ecosystem, improve collaboration and productivity. You can find out more about it here.
For the remaining year, privacy and resiliency will be major themes as the core team is preparing to bring a base layer solution through a Shutterized Beacon Chain
J: How secure is Gnosis? You’ve mentioned it earlier, but you could add some details to clarify.
S: As previously mentioned we have the 2nd largest validator set, with 113k validators validating transactions, ensuring the integrity of our blockchain.
We are constantly trying to increase the number of validators on Gnosis Chain so if we have anyone in the audience interested in becoming a Gnosis Chain validator check out our interactive guide on how to become a Gnosis Chain validator at validategnosis.com
With this, we are focused on increasing our nakamoto coefficient — an important number for us to understand the security of Gnosis Chain. It is simply how many entities it would require to take down the Gnosis Chain network.
J: What is the most important things to know about Gnosis Chain?
S: At Gnosis Chain we are committed to becoming the most resilient and decentralized blockchain. Right now, we are the second most decentralized chain after Ethereum with over 112,000 validators.
Supporting the decentralization narrative is as simple and straightforward as staking 1 GNO for you to run a validator and support the Gnosis Chain network. We believe in the power of home or solo stakers. Running a validator shouldn’t be technically hard or capital intensive.
J: Thank you Shantell for sharing your vision of future Gnosis.
And the last question from our user: what are the ways that generate profits/revenue to maintain GnosisBuilders project and what is its revenue model ?
S: As a Proof-of-Stake network, Gas fees are generated and returned to validators. Over 2022, we averaged over 100k daily transactions on Gnosis Chain and plan to increase this significantly over the next several years.
Currently over 10% of our circulating supply of GNO tokens is staked in our validator network, which drives an average ~16% yield
J: Clear enough, thank you once again. Gnosis builds new market mechanisms to make this future possible. That is why it’s valuable for GetBlock to be supporting Gnosis Chain. GNO shared nodes hosted by GetBlock can be reached through various methods like JSON-RPC, WS.