Differences between Gnosis and Ethereum
Development wise, since Gnosis is an Ethereum Virtual Machine based chain, development is nearly identical. Check out the protocol specification for more details.
- Fast transaction times (5 seconds) & low transaction fees (500 tx for $.01).
- A stable token for transactions & gas fees.
- Smart Contract, DApp & toolset compatibility with other Ethereum-based chains like Ethereum, Ethereum Classic, BSC and others.
- Full-featured explorers Gnosisscan and BlockScout.
- Wide-ranging Community Support.
- Growing ecosystem designed to support stable person-to-person transactions, micro transactions, conference currencies, community currencies, DeFi, NFTs, DAOs, games and more.
Transaction fees are assessed for any Gnosis transactions such as sending xDai to another wallet or interacting with a smart contract. These fees are currently sent to the validator who seals the block in which the transactions take place (transaction fees are not split among pool participants, they are only received by the validator). Currently, transaction fees on Gnosis are extremely low. As chain usage grows, these fees may be redirected to support additional aspects of the protocol.