- With the explosion of users in Web3 in the past two years mainly on Ethereum, Layers 2 and EVM compatible chains the past years have been mind-blowing in terms of growth.
- DeFi and NFT’s leading the way by attracting the most new users, new businesses and new uses cases for the digital asset world.
These major innovations have led also to enormous risks : we have seen billion dollars worth of assets vanished with different platforms hacked occurring, stolen NFT’s, tokens and liquidity theft which led to major stress and pressure applying in these markets.
Statistics showing that Cryptocurrency theft has increased by a staggering 516% since 2020, with $3.2 billion worth of cryptocurrency being stolen.https://policyadvice.net/money/insights/cryptocurrency-hacking-statistics/
This leads us to the billion dollar question ! How to securely manage billions of dollars worth of assets with the power of smart contracts ?
**Gnosis Safe **may have that ANSWER. While every other project has been working on relying on the safety of their protocol or platform. There is always a vulnerability (even if it’s still needed) as the technology evolve, hackers get smarter.
That is why Gnosis has been focused and working for years ⚙️ on solving the problem at the root.
What is Gnosis Safe ?
All the Ethos in crypto rely on different actors (users, investors, DAO’s, protocols etc.) being able to operate in a trustless and decentralized manner.
Gnosis designed & created a secure solution with the approach of securing different parties wallets using the power of Smart Contracts , the security of Ethereum and the Magic of multisignature wallets.
- ⚠️ 99% of Ethereum users are using a 🗝 single key wallet 😢 secured by a seed phrase or/and a private key, which if compromised will cause the lost or theft of hard earned assets.
- ✳️Gnosis make this change ! Any user can now create a smart contract wallet that can be signed ✍🏽 by more than 1 user or wallet. Meaning you can know create a self custody wallet that will need to be sign by different parties before approving a transaction.
Use Web3 securely and easily :
So let’s dive in, What are the use cases ?
The use cases for Gnosis are infinite so you go with your own creativity as you can add as much signer or owner of the wallet as you want, you can decide how many of them need to sign or confirm a transaction for the transaction to be approved. This will be by default & design when you create the Multisig Safe wallet.
-
DAO, protocols and companies can now require majority of actors to approve a transaction before funds can be transferred reducing drastically malicious activities or bad behaviors.
-
A common user can now use a multisig Gnosis for recovery, with keys redundancy, you can add multiple wallet signers for the safe, so if you lose one of them you still have the ability to recover it with others wallet addresses.
-
It allows very sensitive transactions to be executed with consensus and decision of majority of parties.
Who is gnosis for ?
-
A noob or newbie : you can now set up your wallet with different recovery signer wallets . The good thing is that you can use your gnosis wallet with your favorite DAPP.
-
A builder : You can now create, test and deploy your dapp on Gnosis safe , it only takes a few minute to launch your dapp on the Gnosis Safe platform, see how here .
-
A family, a group of friends or a couple : you can imagine a future where inheritance of digital assets such As tokens, NFT and private data or assets can be stored safely for years to comes.
-
A DAO can use Gnosis multisig to manage DAO treasury, execute sensitive transactions safely, voting using owner signatures and even managing liquidity.
-
A company such as a Fund, a CeFi exchange or start up can safely manage assets and use Gnosis Safe as a form of long term cold wallet.
-
A charity can use it to receive funds and move safely funds.
You see why it is so important, as the Gnosis Ecosystem is growing in popularity. Everyone is welcome to join even degens 🤓.
What do you need to know ?
You can now truly regain the power of self custody of your assets in a private manner, with an open source smart contract solution, designed to be costless with gasless signatures and supporting DeFi integrations & NFT’s storage.
The good news is that it only takes 60 seconds ⏰ to create a Gnosis and get SAFU :). Gnosis supports your favorite chains : Up to 9 chains such as Optimism, Ethereum, Arbitrum, Polygon etc.
✔️ It is also compatible with your favorite wallets from a mobile wallet, to a browser extension wallet or even a hardware wallet such as Metamask, Ledger etc.
The most popular Dapps are available for you to use with your Gnosis Safe. With more Dapps to come in the future from : DeFi, Governance to NFTs.
You can use it by downloading the mobile version on your phone, using it directly on the browser web app or even by downloading the Desktop version.
As of february 2022, Gnosis Safe crossed the bar of more than 100 billions $ 🎊 of assets secured achieving a new security standard in the noble combat for Web3 ownership.
Join the Movement and be your own Guardian !
Create your Gnosis Safe here :
Feel free Join our discord Community
-
Ressources : https://forum.gnosis-safe.io/
-
Download on the App Store :
-
Download on Google Play :
https://play.google.com/store/apps/details?id=io.gnosis.safe
Article written by :
-
discord id : nour#4667
-
Twitter : https://twitter.com/noureasy