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What is Kleros?

Kleros is a decentralized arbitration service designed to resolve disputes within the new economy using a peer-to-peer model. It operates on the Ethereum blockchain and offers dispute resolution as an alternative to traditional legal systems. Kleros employs a global community of users who act as jurors, ensuring decisions are fair and based on cryptoeconomic principles.

How does Kleros work?

Kleros functions by leveraging blockchain technology and smart contracts to conduct arbitration. Users submit disputes, and Kleros selects jurors from a pool of PNK token holders who have staked their tokens. These jurors review the evidence and vote on the outcome. The majority ruling is enforced automatically through smart contracts. Kleros uses a unique algorithm for juror selection and protects against Sybil attacks using the PNK token.

What are the potential use cases for Kleros?

Kleros has diverse applications, including resolving disputes in e-commerce, insurance claims, freelancing contracts, and managing token-curated registries (TCRs). It can also verify user identities in digital networks to prevent Sybil attacks, ensuring that only authentic individuals participate in blockchain ecosystems.

What is the history of Kleros?

Kleros was founded in 2017 by Federico Ast and Clément Lesaege, inspired by a hackathon introduction. The platform launched its first version in July 2018, featuring the "Doges on Trial" pilot, marking its initial foray into decentralized dispute resolution. Kleros has since evolved with significant updates like the Athena release in 2019 and partnerships with entities such as the European Union’s Horizons 2020 program, expanding its influence and technology over the years.