Let's understand Safe [ wallet ] under 2 min !!!

Helllloooo !! Peeps, I'm back with another article on Gnosis Safe. and will be learning about safe in under 2 min.

Gnosis Safe

Gnosis Safe is like a special wallet that runs on a technology called Ethereum. It helps keep your money safe by making sure that a certain number of people agree before any transactions can happen.

Story to Understand Safe [ wallet ]

Imagine you and your friends have a shared wallet for a group project. Gnosis Safe is like that shared wallet but with extra security. Before any money can be spent or transferred, a minimum number of people in your group need to say "yes" and agree to the transaction. This makes it harder for someone to steal or misuse the money without permission.

Application

Gnosis Safe is often used by groups called DAOs (Decentralized Autonomous Organizations) who pool their money together for projects. In these groups, important decisions and actions are voted on by all members, but only a specific group of trusted individuals have the power to actually carry out those decisions.

So, in simple terms, Gnosis Safe is a special wallet that requires a group of people to agree before any money is moved, which makes it more secure. It's often used by groups who work together and want to make sure everyone has a say in decisions while protecting the funds they share.

Some Real Metrics

There were almost $39Billons of assets currently stored in Gnosis Safe over 4Millions+ transactions.

Over 1.5Millions+ Safe Accounts are active on the Blockchain.

Look at the Safe-Contract

Github - Safe-Contracts

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