Is gnosis chain proof of stake?

Could you kindly enlighten me on the topic of the Gnosis Chain? I've been curious about its underlying consensus mechanism. Specifically, I'm wondering if the Gnosis Chain utilizes a Proof of Stake consensus protocol? If so, could you explain how it functions and what advantages it might offer compared to other consensus algorithms? I'm particularly interested in understanding how staking works within this framework and the potential rewards or risks associated with it. Your insights would be greatly appreciated.