Why Kleros Needs a Native Token?

The Pinakion (PNK), a crypto-token for creating the right incentives and preventing Sybil attacks…

William George
Jun 7, 2018 · 9 min read
A Pinakion from Ancient Athens. These small bronze plates on which citizens’ names were written were inserted into a randomizing machine that selected for participation in juries and certain civil service roles. The name of the token used by Kleros is a reference to this practice.
A short explainer video on how Kleros works.

Why Does Kleros Need its Own Token?

PNK makes an attack hard

PNK makes an attack expensive

The price of Bitcoin Gold (BTG) over a recent period where it suffered a 51% attack. In Kleros, performing a 51% attack requires holding 51% of the tokens, so the attacker should take a hit in value on each one of her tokens.

PNK makes Kleros forkable

On the left, an attacker has managed a 51% attack and starts carrying out obvious miscarriages of justice. The community decides to fork the token removing the attackers’ holdings, and most of the users migrate to the new version of PNK.

Why Would Users Want PNK?

A Bit More Detail…

Kleros

The Justice Protocol. A Dispute Resolution Layer for the decentralized age

Thanks to Spencer Bramson, Federico Ast, and Clément Lesaege.

William George

Written by

Blockchain and cryptoeconomics researcher for Kleros. PhD in mathematics (Univ of Toronto, 2015) related to cryptography. Subsequent research on blockchains.

Kleros

Kleros

The Justice Protocol. A Dispute Resolution Layer for the decentralized age