Kleros (PNK) is a decentralized dispute resolution project that launched in July 2018. It is an open-source online dispute resolution protocol that uses blockchain and crowdsourcing to adjudicate disputes fairly.
Kleros offers a middleman service for decentralized applications (DApps) and their users. If the service provided by the application does not create a dispute, Kleros acts as a trustless third-party service for payment.
When a dispute does occur, however, each party can apply for arbitration through the Kleros arbitrators that are selected from the owners of PNK tokens. PNK is an Ethereum-based ERC-20 utility token with a fixed supply.
At this point, the jurors can make a decision that will favor either party. The arbitration fees are distributed to all arbitrators in the form of ETH; jurors who have issued a minority decision lose part of their PNK tokens for the benefit of the majority of jurors. This decision can be appealed, at a cost. The stated mission of Kleros is to offer easier access to justice and improve individual freedom.
Kleros charges a cost that is payable in ETH and is provided by the parties to the dispute or drawn from the funds previously locked in escrow.
How to Buy PNK on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing PNK. Some reputable platforms include LBNK, Okx, Kraken, and others.
Step 2: Register an Account
Here, we'll register an account on the OKX (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing PNK.
Step 5: Purchase PNK
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of PNK you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy PNK.
Step 6: Store Your PNK
After purchasing, you can choose to store your PNK in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and PNK assets, be sure to use a strong password and enable two-factor authentication.
PNK Price:Kleros (PNK) is a decentralized dispute resolution project that launched in July 2018. It is an open-source online dispute resolution protocol that uses blockchain and crowdsourcing to adjudicate disputes fairly.The price fluctuates daily, and as of March 30, 2024, the highest price for PNK was $0.4849.
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