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Kleros

PNK

  • DAO Solutions
Established Year
2017
Headquarter
France
Operating Status
Active
Ecosystem
EthereumGnosis Chain
Kleros is a decentralized dispute resolution protocol for use on smart contract platforms. It aims to create a form of decentralized justice by acting as a decentralized third party. This third party is capable of providing decisions on the correct result when applying a set of rules to questions ranging from simple to highly complex. Game-theoretic incentives are used to have crowdsourced jurors analyze and rule on cases correctly. When a dispute occurs, each party can apply for arbitration through Kleros arbitrators, who are selected from the owners of PNK tokens. The arbitration fees are distributed to all arbitrators in the form of ETH. Jurors who have issued a minority decision will lose part of their PNK tokens for the benefit of the majority of jurors.

Organisation

Team

Frequently Asked Questions

What Is Kleros (PNK)?

Kleros (PNK) is a decentralized dispute resolution project that launched in July 2018. It is an open-source online dispute resolution protocol that uses blockchain and crowdsourcing to adjudicate disputes fairly. Kleros offers a middleman service for decentralized applications ([DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)) and their users. If the service provided by the application does not create a dispute, Kleros acts as a trustless third-party service for payment. When a dispute does occur, however, each party can apply for arbitration through the Kleros arbitrators that are selected from the owners of PNK tokens. PNK is an Ethereum-based [ERC-20](https://www.coinlive.com/coin/erc20) utility token with a fixed supply. At this point, the jurors can make a decision that will favor either party. The arbitration fees are distributed to all arbitrators in the form of ETH; jurors who have issued a minority decision lose part of their PNK tokens for the benefit of the majority of jurors. This decision can be appealed, at a cost. The stated mission of Kleros is to offer easier access to justice and improve individual freedom. Kleros charges a cost that is payable in ETH and is provided by the parties to the dispute or drawn from the funds previously locked in escrow.