Kleros –Pinakion Token (PNK)
The cryptocurrency and blockchain market keeps changing so fast. Because of the changes, the market can be a challenge to everyone, especially newcomers. To help you be sure of what you are looking for, let’s have a look at the Kleros protocol, what it is, its use case and other information about the protocol.
What is the Kleros Protocol?
The Kleros protocol is an Ethereum based protocol that leverages the power of the blockchain technology and crowdsourcing for the evaluation of complex evidence and solving claims in a transparent, decentralized, efficient, and fast way. This open sourced project is developed with the objective of becoming an autonomous and decentralized organization which delivers fast, transparent and affordable justice. Kleros will be for decentralized platforms in a bid to help in the evaluation of disputes between users.
How does it work?
After users have any difference between them, they might decide to use the Kleros Protocol as the jurisdiction aid. The Protocol will act as an Adjudication protocol. Before the process starts, the users need to create a smart contract and choose the Kleros protocol and their adjudication protocol. The information is then securely sent to Kleros. A tribunal is selected from the cloud of juries to evaluate the evidence before they cast the votes. Smart contracts are used to enforce the final decision.
Use cases of Kleros
Most people like songwriters and article writers deal with copyright issues at some point in their career. Users can use the Kleros adjudication protocol. An example given by Kleros explains how it works. “If a song is flagged for plagiarism on decentralized music platform. The jury determines that the song was indeed plagiarized. All payments are redirected to the copyright owner.”
If a dispute arises between an entrepreneur and a software development gig, the jury of software experts is set to analyze the evidence before the verdict is reached. The money goes to the winning party after the final decision.
The Kleros protocol can be used to solve crowdfunding issues during campaigns and other programs.
If you are flagged for an inappropriate comment, you can use the Kleros adjudication protocol to aim back your reputation points.
The Kleros (PNK) team is led by CEO Federico Ast, CTO Clement Lesaege, and Web3 developer, Nicolas Wagner among others. Anyone can join the team if you have the needed qualification. If you want to contribute to the growth of Kleros, visit the website and content the team for the job you want.