Kleros price is $0.02961230
Kleros (PNK) is currently valued at $ 0.02961230, and over a 24 hour period, it has decreased by -2.32%.
Kleros is a blockchain-based Dispute Resolution Layer designed to offer quick, secure, and affordable arbitration for a range of issues. It leverages the power of blockchain technology and crowdsourcing to resolve disputes efficiently. Kleros connects people needing dispute resolution with jurors who possess the necessary skills to deliver verdicts. The platform primarily stands on the strength of crowdsourcing, tapping into a worldwide pool of jurors. With the help of blockchain technology, Kleros assures evidence integrity, transparency in juror selection and incentivizes fair rulings.
The creators of Kleros were led by the vision of creating a decentralized platform where disputes could be resolved efficiently. Though the team behind Kleros remains largely behind the scenes, the ethos of fairness, transparency and security that they have instilled in the platform is palpable. Their innovative use of blockchain technology in the domain of dispute resolution has marked a significant milestone in the world of decentralized systems.
Kleros works by connecting individuals or entities that need to resolve disputes with a pool of jurors who have the necessary expertise and skills to handle those specific disputes.
Whenever a case is created on Kleros, appropriately qualified jurors are selected randomly to resolve it. They get all the relevant information and evidences to adjudicate the dispute. Once they've done so, both the parties involved in the dispute get a resolution in a transparent and affordable way.
All this is backed by blockchain technology to maintain evidence integrity, assure transparency in the jury selection process and provide incentives for fair rulings.
Kleros distinguishes itself by harnessing the power of blockchain and crowdsource expertise for dispute resolution. It's a global decentralized platform that breaks geographical boundaries and taps into a worldwide jury pool.
Moreover, Kleros offers an affordable, fast and secure platform for dispute resolution. This contrasts with traditional methods that typically involve long delays, high costs, and potential bias in verdicts.
As of now, the circulating supply of Kleros (PNK) stands at 724.2M out of its total supply of 776.6M.
Kleros uses blockchain technology, which is inherently secure by design. In blockchain, all transactions are recorded in blocks and these blocks are linked to each other in a chain. Changing any information on the blockchain would involve changing all the following blocks, which makes it virtually tamper-proof.
Additionally, the use of smart contracts in Kleros offers an extra layer of security. Smart contracts execute transactions automatically upon meeting the pre-defined conditions, eliminating the need for third-party intermediaries and reducing the risk of fraud.
Kleros (PNK) is available for purchase on the following exchanges: OKEx, Gate.io, CoinEx, Bitfinex, Hotbit. As always, when dealing in cryptocurrencies, be sure to use reputable exchanges and ensure that your digital assets are secured in a trusted crypto wallet.
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