NOVELTY - The electrode made by a formulation method comprising dissolving an ionic conductive polymer binder in a volatile solvent or a mixture of volatile solvents and allowing diffusion of gases formed during the electrolysis in a solid state, adding an electrocatalytic material in form of divided powder to the solution to obtain a mixture, and depositing it on a metal substrate or metallic-like conductor, is claimed. The substrate or the conductor is solid or perforated and chemically stable in an aqueous medium. The dissolving and adding steps are simultaneously or successively performed.    USE - The electrode is useful in a device for electrolysis of water in a liquid electrolyte medium such as liquid electrolyte alkaline medium and liquid electrolyte acidic medium to produce a gas mixture of hydrogen and oxygen and/or hydrogen alone and/or oxygen alone (all claimed), where the oxygen is useful in steel and petrochemicals industry, for bleaching paper pulp, reprocessing of certain chemical wastes and producing high temperature flames, and the hydrogen is useful as a feedstock in the chemical and petrochemical industries and as an energy storage used in facilities such as wind power plant, nuclear power plants and photovoltaic panels, for producing ammonia and methanol and refining a petroleum, and in combustion engines or power fuel cells and in the fields of metallurgy, electronics, and pharmacological and in the treatment of food products.    ADVANTAGE - The electrode has good chemical and mechanical stability, electrical conductivity, permeability to water and gas, ion conductivity and hydrophilic/hydrophobic balance, limited adsorption properties of formed gas and hydrogen peroxide, prolonged service life, large active surface, good performance, and resistance to corrosion and mechanical stress.    DETAILED DESCRIPTION - The electrode made by a formulation method comprising dissolving an ionic conductive polymer binder in a volatile solvent or a mixture of volatile solvents and allowing diffusion of gases formed during the electrolysis in a solid state, adding an electrocatalytic material in form of divided powder to the solution to obtain a mixture, and depositing it on a metal substrate or metallic-like conductor, is claimed. The substrate or the conductor is solid or perforated and chemically stable in an aqueous medium. The dissolving and adding steps are simultaneously or successively performed. The method further comprises removing the solvent or after the depositing step. The polymer binder is an anionic alkaline electrolytic liquid conductive medium including conducting hydroxides and a cationic acidic electrolytic liquid conductive medium including conductive protons. A weight ratio of the polymer binder/the divided powder is 10/90-40/60. The divided powder has average particle diameter of 1-5 nm or 1-10 nm. INDEPENDENT CLAIMS are included for:    (1) a method of formulating an electrode for electrolysis of water in a liquid electrolyte medium; and    (2) a device for electrolysis of water in the liquid electrolyte medium to produce a gas mixture of hydrogen and oxygen and/or hydrogen alone and/or oxygen alone.