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Information about "Kleros"
What Exactly Is Kleros (PNK)?
Kleros (PNK) is a project that focuses on decentralized dispute resolution and was introduced in July 2018. It's an open-source protocol designed for online dispute resolution, utilizing blockchain technology and crowdsourcing to ensure fair settlements.
Kleros serves as an intermediary for decentralized applications (DApps) and their users. In cases where the service does not lead to disputes, Kleros acts as an impartial third-party for handling payments.
However, when conflicts arise, both parties can seek arbitration through Kleros, using arbitrators selected from PNK token holders. PNK is a utility token based on Ethereum's ERC-20 standard with a capped supply.
Jurors then make a decision, siding with one of the parties. Arbitration fees, paid in ETH, are split among all jurors, and those in the minority lose some of their PNK tokens to benefit the majority. There is an option to appeal decisions, though this incurs additional costs. Kleros aims to make justice more accessible and to enhance personal freedom.
The platform charges fees in ETH, which are provided by the disputing parties or extracted from escrowed funds.
Kleros serves as an intermediary for decentralized applications (DApps) and their users. In cases where the service does not lead to disputes, Kleros acts as an impartial third-party for handling payments.
However, when conflicts arise, both parties can seek arbitration through Kleros, using arbitrators selected from PNK token holders. PNK is a utility token based on Ethereum's ERC-20 standard with a capped supply.
Jurors then make a decision, siding with one of the parties. Arbitration fees, paid in ETH, are split among all jurors, and those in the minority lose some of their PNK tokens to benefit the majority. There is an option to appeal decisions, though this incurs additional costs. Kleros aims to make justice more accessible and to enhance personal freedom.
The platform charges fees in ETH, which are provided by the disputing parties or extracted from escrowed funds.
Who Founded Kleros?
The brains behind Kleros (PNK) are Federico Ast, Clément Lesaege, and Nicolas Wagner.
Federico Ast serves as the CEO and also teaches on Coursera. He previously worked as a creator and advocate at Crowdjury and was a journalist, speaker, and blogger for Clarín.
Clément Lesaege is Kleros' Chief Technology Officer. Before joining Kleros, he was a freelancer focused on smart contract security and interned in machine learning research at Technicolor.
Nicolas Wagner is the lead developer at Kleros. He also freelances as a web and blockchain developer. His past experience includes positions as a blockchain developer at Dether.io and back-end developer at Tradelab Programmatic Platform.
Federico Ast serves as the CEO and also teaches on Coursera. He previously worked as a creator and advocate at Crowdjury and was a journalist, speaker, and blogger for Clarín.
Clément Lesaege is Kleros' Chief Technology Officer. Before joining Kleros, he was a freelancer focused on smart contract security and interned in machine learning research at Technicolor.
Nicolas Wagner is the lead developer at Kleros. He also freelances as a web and blockchain developer. His past experience includes positions as a blockchain developer at Dether.io and back-end developer at Tradelab Programmatic Platform.
What Sets Kleros Apart?
While primarily tailored for DApps, Kleros is a decentralized and cost-effective arbitration system that could also attract users beyond the blockchain world. It serves as a versatile dispute resolution platform that can handle legal adjudication in various scenarios.
Its applications range from resolving escrow disputes to handling social network policy breaches and oracle-related issues. The PNK token is crucial to these processes because the quantity jurors stake influences their selection probability for cases.
PNK also serves as an economic motivator for jurors to act honestly. Additionally, the token grants voting power that scales with the number of tokens held. This encourages holders to retain their tokens for governance roles, as jurors earn ETH in arbitration fees per case.
Its applications range from resolving escrow disputes to handling social network policy breaches and oracle-related issues. The PNK token is crucial to these processes because the quantity jurors stake influences their selection probability for cases.
PNK also serves as an economic motivator for jurors to act honestly. Additionally, the token grants voting power that scales with the number of tokens held. This encourages holders to retain their tokens for governance roles, as jurors earn ETH in arbitration fees per case.
How Many Kleros (PNK) Tokens Are Available?
As of February 2021, there are 599,684,715 PNK tokens in circulation, with no maximum supply limit specified at that time.
How Is Kleros Network Protected?
The security of Kleros is ensured through cryptography and blockchain technology, which protect evidence, select jurors, and encourage honest judgments. The protocol token allows users to be chosen randomly as jurors. Since PNK is an ERC20 token, it can be stored in various offline or desktop crypto wallets compatible with Ethereum, offering robust security.
Where Can You Purchase Kleros (PNK)?
You can buy, trade, or sell Kleros (PNK) on several exchanges, including:
* HBTC
* OKEx
* BiONE
* BKEX
* Bitfinex
If you're new to buying cryptocurrencies, you can find guidance in our comprehensive guide.
* HBTC
* OKEx
* BiONE
* BKEX
* Bitfinex
If you're new to buying cryptocurrencies, you can find guidance in our comprehensive guide.
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