Review on Kleros by Toprak Dere
About Kleros PNK token
If we make a general definition. It is a platform that allows disputes to be resolved online. In this system where the legal system is integrated into the blockchain, all disputes can be resolved thanks to Kleros.
So how are these conflicts resolved? Who makes the decisions? What do Kleros (PNK) tokens do?
The PNK token, the building block of this Kleros solution platform, is in the role of a judge. We need to have PNK (Pinakion) tokens to be a judge in Kleros. Kleros resolves conflict situations with a jury system through smart contracts. The only requirement to become a jury is to own and stake (lock) a PNK token.
In resolving disputes, juries are randomly selected and rewarded for their participation. However, in Kleros, a penalty system is also applied to ensure that the juries do not make their decisions randomly and that they examine the disagreements as fairly and in detail as possible.
Pros
- You can connect a network wallet to the site where the PNK token carries out the cases and stake ETH - PNK in case of possible loss, and you can participate in the lawsuits you are interested in and earn money.
- Kleros is a decentralized dispute resolution project, this project is part of "structural" projects related to decentralized applications (Dapps). Kleros offers an intermediary service for Dapps and its users. If the service provided by the application does not create a dispute, Kleros only acts as a trusted third-party service for payment (escrow).
- Kleros is adapted for Dapps, its primary target audience, but it can be thought that a decentralized, reliable and relatively inexpensive arbitration system would pull it out of the traditional blockchain ecosystem. Conflict management, after-sales service and “support” are an expensive budget for companies, an alternative solution for online business disputes can be attractive.
Cons
- not listed in most exchanges
- the project should be developed and supported more
