Kleros, a decentralized arbitration platform, is teaming up with Ethfinex Exchange to offer a fully decentralized listing process for new projects looking to have their tokens traded on the exchange. This will be the first production-scale application of a new, completely decentralized curated list application developed and tested by Kleros that will allow companies to make ‘crowd-sourced decisions.’
Until now, Ethfinex initiated community voting on a list of projects that the team members at Ethfinex picked to be the best projects and put forward to a public vote which was then carried out by users. Voters could then assign tokenized votes to the project they most wanted listed on both the Ethfinex and Bitfinex exchanges. The top three tokens in the voting process were then listed. This process was fine for the most part, but was lacking the true spirit of decentralization.
A ‘curated list’ is any type of compilation of information that is compiled by someone, some algorithm, or some company – this could be gardening tools on Ebay to your Facebook homepage feed. Up until now, all curated lists have been centralized – controlled and created by the owner of the list.
Decentralized arbitration platform, Kleros, has released a new, completely decentralized, production-ready curated list application available for anyone – from a completely decentralized exchange to Ebay. First tested in a pilot project called Doges on Trial, the application tests the Schelling-Point crypto-economic model and a completely decentralized arbitration system for managing disputes. By properly rewarding people for voting correctly and enabling rewards for ‘jurors’ to challenge entries that don’t comply with the rules of the list, the application can generate nearly perfect results.
Kleros is moving forward with a number of new releases in the coming months including a dispute backed escrow platform offering users trust and dependency while transacting in the blockchain ecosystem. While the company is built on the Ethereum blockchain, their product offering is truly unique and has vast applications in both the centralized and decentralized worlds.