What does Kleros do?
Kleros (CRYPTO:PNK) is a decentralized dispute resolution layer that allows individuals and businesses to resolve disputes quickly, fairly, and affordably. Kleros uses arbitration courts made up of randomly selected jurors to resolve disputes. Jurors are paid in the Kleros token, PNK, for their services.
Kleros' appeal lies in its decentralization, promoting security and anti-censorship, while ensuring transparency with public proceedings. It excels in efficiently resolving disputes within weeks and stands as a cost-effective alternative to conventional dispute resolution methods like arbitration and litigation.
While still in development, Kleros has successfully resolved disputes across various sectors, including cryptocurrency exchanges, gambling platforms, and insurance companies. Projects like Augur, Gnosis, and Melon are utilizing Kleros for dispute resolution, focusing on prediction market outcomes and asset management concerns.
The objective of Kleros is to provide a decentralized, transparent, efficient, and affordable way to resolve disputes. Kleros aims to make dispute resolution accessible to everyone, regardless of their location or financial resources.
