Kleros is a decentralized justice protocol that resolves the new economy's disputes. The platform is an open-source that uses blockchain and crowdsourcing to judge disputes fairly. The Kleros aims to develop software enabling access to justice and people's freedom. The vision of Kleros is to democratize access to justice in the digital world, a decentralized court system for the internet era.
Kleros is a global peer-to-peer community of individuals serving as jurors. It is a multi-purpose platform that deals in a wide variety of industries. Many disputes arise in different areas of the digital economy that traditional courts or judgment systems are not capable of resolving. Blockchain and the game theory of Kleros bring instant, affordable, and fair decisions to the community in a secure way.
Businesses use Kleros for judgment in their contracts. Kleros randomly selects staked PNK tokens, and the owner of that coin is selected in the panel of jurors and sends back a decision when a dispute appears. Backed by blockchain, the whole process is secured and transparent. The platform allows users from around the globe to participate and earn funds, and users who get selected as a juror collects judgment fees.
The PNK token is the native governance token of the Kleros platform. A governance token is a token that empowers its owners to participate in the voting to shape the future of a protocol. The token holders can use the PNK coin to vote for the platform's governance.
The inspiration behind the concept of the PNK token is the coin used by ancient Athenians to draw jurors for their famous trials. The token owners can stake PNK coins to indicate their availability to serve as jurors in disputes. According to its whitepaper, the PNK token plays two critical roles in the Kleros ecosystem. First, the token offers rewards to jurors to vote honestly. Second, the PNK token act as a shield as it protects against malicious actors.
