Kleros

in crypto •  3 months ago

What is Kleros?

Kleros is an optional dispute resolution platform. Kleros is a network of juries specialized in various categories that are available to resolve disputes. Through the use of intelligent contracts, Kleros can deposit the funds in question until the selected juries issue a resolution.

The award is expensive and time consuming. With Kleros, both parties can be protected in case a contract is breached

Kleros is a decentralized application built on top of Ethereum that works as a decentralized third party to arbitrate disputes in every kind of contract, from very simple to highly complex ones. It relies on game theoretic incentives to have jurors rule cases correctly. The result is a dispute resolution system that renders ultimate judgments in a fast, inexpensive, reliable and decentralized way.

Can you really trust a decision made by a group of anonymous people on the Internet?

Satoshi Nakamoto taught us that a number of anonymous computers that do not trust each of them can still reach a consensus, as long as the incentives are correctly structured. Kleros extends this principle to human decision-making. Several anonymous juries that do not trust each other can reach a consensus on a correct decision, provided that the incentives are correctly structured. For more information on the incentive system, read our white paper.

How many pinakion will exist?

The supply of pinakion is fixed at 1,000,000,000 units.

What happens with the activated pinakion tokens?

After a user has activated them to draw them in a subcourt, the tokens are frozen until the end of the court session. If the jury has voted incoherently with the majority, it will lose part of the chips. If the juror has voted consistently with the majority, he will win some tokens (these tokens will be lost when the jurors have voted incoherently). But the total amount of pinakion remains the same. They are not destroyed.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
You can also follow @contestbot to be notified of future contests!