What is Kleros? What Does PNK Do?

What is Kleros? Kleros (PNK) is a decentralized and Blockchain-based dispute resolution project launched in 2018. Koindeks.com In this article, we have answered the questions frequently asked by investors, such as what Kleros is, what it offers, what is PNK, what it does, and how to buy it. Let’s examine this project, which works as the judicial institution of the Blockchain world, together.

What is Kleros?

Kleros (PNK) is a decentralized dispute resolution project launched in July 2018. It resolves disputes in the blockchain space in a fair manner. For this, it uses technologies such as Blockchain and crowdsourcing. It basically serves as a completely open source and online dispute resolution protocol. With this project, developers and users can resolve their conflicts on issues such as dApps or NFTs.

Kleros provides an agent service for decentralized applications (dApps) and their users. If the service provided by the application does not create a conflict, Kleros serves as a reputable third party. However, things are different when a conflict occurs. In such a case, each party has the right to apply for arbitration through Kleros arbitrators. In this case, the delegations can also make a decision that is in favor of both parties.

What does Kleros offer?

Kleros is mainly designed for dApps. However, Blockchain also serves as a decentralized and inexpensive arbitration system that may attract attention from outside the industry. It is designed as a platform that is able to function as a legal adjudicatory service in many cases. So it is a multi-targeted dispute analysis platform. This includes escrow disputes, network policy violations, and oracle analysis. In this Ethereum-based Blockchain solution, PNK coin holds a very valuable place.

What is PNK? What’s the use?

PNK is the native cryptocurrency of the Kleros platform. Built with the ERC-20 smart contract, this token is critical in resolving disputes. For example, arbitrators working on the resolution of a dispute moved to Kleros consist of PNK token holders. However, arbitration prices are distributed to all arbitrators in the form of ETH. Delegation members who are in the minority in their decisions lose some of their PNK tokens. As a result, the PNK functions as an economic incentive for panel members to be honest in their cases. It also gives them voting rights based on the number of tokens they hold.

What is Kleros? How to get PNK?

Kleros is currently listed on Hotcoin Global, OKX, MEXC, Gate.io and CoinEx. Interested investors are required to become a member of one of these exchanges and then deposit an asset in their wallets relative to PNK trading pairs. Users who do this can obtain the cryptocurrency by placing a purchase order on the relevant process pair.

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