Gnosis Chain co-founder proposes reducing external dependence by shifting GNO from Ethereum to Gnosis

02/16/2023 08:37 • AI Insights • 124 views

It is reported that Martin K ö ppelmann, the co-founder of Gnosis Chain, put forward the discussion of GNO in Gnosis Chain at the Gnosis Governance Forum, aiming to reduce the external dependence of Gnosis Chain and make it more flexible and secure. K ö ppelmann believes that GNO was originally cast on Ethereum, so it is native to Ethereum. GNO on Gnosis Chain comes from the cross-chain bridge contract. K ö ppelmann said that due to the risk of cross-chain bridge, Gnosis DAO could not forcibly destroy the total supply of GNO on Ethereum by code, and GNO cast by rewards on the Gnosis beacon chain could not be cast on Ethereum, it was proposed to change the real source of GNO from Ethereum to Gnosis.

Gnosis Chain co-founder proposed that GNO be issued on Gnosis Chain to reduce external dependence

Analysis based on this information:

Recently, Martin K ö ppelmann, the co-founder of Gnosis Chain, initiated a discussion within the Gnosis Governance Forum regarding the future of GNO in the network. K ö ppelmann’s primary concern was to reduce the external dependence of Gnosis Chain, which would ultimately enhance the network’s flexibility and security.

According to K ö ppelmann’s vision, GNO on Gnosis Chain comes from the cross-chain bridge contract, but he believes that GNO was originally cast on Ethereum, making it native to the platform. Moreover, the cross-chain bridge comes with inherent risks that hamper the scalability of Gnosis DAO. For instance, the total supply of GNO on Ethereum cannot be destroyed through code if the cross-chain bridge risks are present. Similarly, the GNO cast by rewards on the Gnosis beacon chain cannot be cast back on Ethereum.

In light of these limitations, K ö ppelmann proposed a shift in the real source of GNO from Ethereum to Gnosis. By doing so, Gnosis DAO could reduce its external dependence while maintaining its flexibility and security. Shifting GNO from Ethereum to Gnosis Chain would not only reduce complexity but would also make the platform more attractive to potential investors.

The move to switch GNO’s source to Gnosis Chain is a significant step in the right direction for the platform’s future. It is in line with the network’s vision of creating a secure, decentralized, and permission-less infrastructure that enhances the value of the global economy.

In conclusion, K ö ppelmann’s proposal for shifting GNO from Ethereum to Gnosis Chain seeks to mitigate the platform’s dependencies while enhancing its performance, scalability, and security. It is an innovative move that will position Gnosis Chain as a market leader in the industry. The company’s vision and mission align perfectly with the changing needs of the global economy, and their efforts to create a decentralized and permission-less infrastructure are commendable.

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