We live in a generation where technology has become the air we breathe. No interaction will be successful without a dispute. nevertheless, this disputes can be handled during the conversation, whereas others could take a whole life time and at the end of the day it becomes a quarrel for both parties.
Surprisingly, there is now a decentralized blockchain application that bridges the disputes between two individuals in their respective field. What if the agreement between the two disputing parties could be deciphered by the one who's vote is the highest?
In other words, Kleros is an opt-in platform for resolving disputes between two parties. The Kleos is made up of jurors that specializes in numerous categories that are present to settle this disputes. By exploiting this smart contracts, the kleos uses escrow to transact any funds by the selected jurors.
The incentivization system at Kleros ensures that while dispute resolution costs are low, the jurors are properly compensated to continue doing good work. The juror system is also able to deduce good jurors from poor jurors based on the coherency of their votes. For example, if there are five jurors, with outcome options "A" and "B". If four choose "A" and one chooses "B", then option "A" will win. In this case, the one judge who voted "B" would be considered to have voted incoherently. Although one dispute is not very telling, if a judge rules incoherently 90% of the time over 100 instances, clearly they are a poor judge and they would lose tokens.
For more information, please watch the video below
More information and resources
Kleos website