Kleros Blockchain ‘Justice Protocol’ Revealed As ‘Doges On Trial’ Experiment Launches
Kleros is a blockchain company that wants to create a dispute resolution layer for almost any transaction online. It recently went live with an initial version of the platform. As part of the trial period for this tech, the company launched Doges on Trial. It will be the first crypto economy experiment on Ethereum based on a curated list of apps by Kleros. It will play an important role in researching the vision that Kleros has.
The Current Situation
Internet companies organize their data in a centralized manner. The largest companies such as Google, Yelp!, eBay, and others all have rules to determine which products or sites should be accepted on their lists and at what position they should appear.
The Kleros developers want to change all that. Doges on Trial will be the first crypto project to test how kleros may arbitrate disputes that arise from user-curated lists. In this case, it will be a list of Doge images.
How Kleros Will Work
In this experiment, users will be asked to submit a wide array of Doge images to the system. The submitter will need to stake a small amount of ETH. This amount will later be refunded if the community accepts it.
The reward for submitters is in two ways. One is when a user submits the image. At the end of this experiment, Kleros will pick a list of submitters that posted unique Doge images. They will then split a million Doge Coins between them. Secondly, submitters will be rewarded if they make a successful attack on the system. If they manage to submit a cat and it is accepted in the do list, there is a reward of 2 ETH. There will also be a Cryptokitty offered, which is limited to the first ten to submit cats.
There is also a reward for Jurors and Prosecutors on this platform. If they correctly challenge an image and judge it according to the majority consensus, they are rewarded.
Why They Picked Doge
According to the CEO of Kleros, they chose the Doge since it is a beloved character in the blockchain world. They thought that it would be fun, and it would help to elicit interest. With this simple image, they will be able to test what is a very complex economic system that Kleros is developing.
The Kleros project is based on the idea that incentives will make the jurors vote honestly. In essence, the developers are working on the idea that truth based on economic incentives and coherence will become the Schelling Point for jurors to vote independently.
The Kleros project derives its name from the Greek world Kleroterion. This is a stone randomization contraption that was utilized in the democratic process of ancient Greek democracy. Kleros recently completed an interactive crowdsale, which was the first of its kind. At that crowdsale, they raised USD 2.7 million for the community. In this sale, there were no special discounts offered to the buyers.