KLEROS: The blockchain dispute resolution layer
Today's introduction will take a new dimension, I haven't really seen a lot of blockchain related poetry, let's introduce this unique platform in a unique manner:
Out through ages, from the dark till morrow,
lingering disagreements, disappointments and refundless borrows,
Men, plants, the living and even death dispute.
This bane through inevitable, is resolvable.
Along the line, from the dark came the ITs (information tech) and cryptos,
Revolutionizing the world and its trading ways,
Yet the dot called dispute is never cleaned,
Not even smart contracts of the blockchain can rule the dot.
Dispute crawls even in the decentralized economy,
Although many dispute resolutions have tried to put their best,
Their best is yet to be good enough.
Kleros has come and is here to stay,
Connecting jurors with dispute parties to rule the dot,
At last a crowdsourced jurors and blockchain based resolution layer,
To dot so quick and cheap.
I know it's not that professional, let's get down to business. I will be doing a brief and Non-technical review on How Kleros works, it use cases and applications, features like tokens, security measures and Governance principle.
How Kleros works
To use Kleros, users have to include Kleros as the preferred protocol for adjudication.
All relevant information and evidence are securely sent to Kleros
- Selecting a Jury
A jury is selected from the crowd based on token deposited and the voting weight of each individual. Jurors evaluate evidence and cast their vote
Enforcement of verdict
Decision is enforced as recorded by the smart contract
*Kleros using crowdsource technology taps into a universal pool of jurors, Transparency in selection and privacy of evidence is guaranteed by blockchain tech. Every coherent ruling is rewarded while incoherent jurors lose tokens based on the amount of tokens deposited respectively. This is made possible by a smartly designed game theory.
download white paper for more technical info
Applications of Kleros are numerous, since dispute is inevitable in all human aspects including arbitration for freelancing related disputes, social medias, Gaming, crowdfunding, E-commerce etc.
John is a lover of e-commerce, 90% of John's clothings are purchased online, John intends to buy a blue shirt for a friend's party, he orders one at jumia, but at arrival the shirt is green, he reaches back to their customer support, nothing is done. John would have gotten his money back if he had Included Kleros as third party arbitrator.
This is the fuel powering the platform, this protects the platform from Sybil attacks and also provide honest jurors with incentives to vote honestly
This platform is bribe resistant and also ensures that a group of people don't purchase half of the tokens in order to control system through very smart designs.
It's simple, the best option to deal with the dot(dispute) in the digital world is here, with intelligently designed features to resolve disputes fairly, at great speed and less cost.
My brief review
For more information watch this intro video
Here is the link to my twitter post