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Development backed Transparency Report: Kleros reveals all

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Transparency in cryptocurrency is expected, but not always provided. As cryptocurrency enthusiasts and investors, we construct deep connections with the projects we’re following. It’s only natural. 

As a result we are left with bated breath, keen to hear more news about what’s been going on or any hints about what’s coming in the future. In addition, in this nascent space there is a lot of noise, misdirection or straight up lying. It’s a shame, because it really muddies the reputation of those projects that are providing real transparency. 

To us, transparency is a vital part of cryptocurrency. We don’t just want to buy a token and forget about it. We build a personal passion for their goals. We share the same vision. It’s not enough to see a profit – the decentralized vision needs to come true. 

Passionate investors are here because they believe the technology is revolutionary and can truly add value to our lives. This means that we want to know what’s going on, how the company is progressing and what’s coming next. It’s not about being nosey, it’s just pure, unadulterated interest. We’re literally watching the future unravel in front of us. And it’s fascinating. 

This approach and passion for cryptocurrency is why so many are extremely impressed to read Kleros’ 2020 transparency report. It’s a deep dive into everything they did in the last year – developments, releases, research, financials and more, and it also includes future ambitions and goals. 

Highlights of last year

The Kleros team has had a busy year. Here are some of our personal favourite highlights:

  • The Kleros token curated registry was launched alongside a partnership with Ethfinex.
  • The Kleros Escrow Dapp was released which allows people to carry out transactions backed by Kleros dispute resolution. 
  • A successful second round of the token sale was conducted, where 150,000,000 PNK were sold for 7,790 ETH.
  • Uniswap Ninja was launched, a fork of the Uniswap protocol that pulls token information from Kleros’ token curated registry.
  • Carrying out research to increase the performance and security of the Kleros core protocol.

You can read the rest of the highlights from the last 12 months here

What’s next?

The report goes into detail about what Kleros will be aiming to achieve before the release of the same report next year. There are a number of general goals which then have specific action points assigned to them. 

For example, the development team will be aiming to improve security, efficiency and the variety of cases that can be resolved by Kleros. To achieve this there are numerous upcoming initiatives, such as decentralizing the Kleros governor contract and formalizing the Kleros forking mechanism based on subjectivocracy principles.

Beyond this, there are a few other very interesting upcoming initiatives. Firstly, Kleros is aiming to release Linguo, a Dapp that will use Kleros for assessing the quality of translation work. Online translation is a large industry that could appreciate a product like this. 

Also in the works are a number of Dapps that will be designed to increase adoption of both cryptocurrency and Kleros. These will be accompanied by the release of the Generalized Token Curated Registry (GTCR), a Dapp that will enable anyone to create their own token curated registries. Alongside this will be a token curated registry application called ‘Proof of Humanity’, designed specifically for detecting the differences between humans and bots. 

Of course, there is a lot more than just that in the works – please check out the full plans in the report

Financial records

It’s not often you are able to deep dive into the financials of a crypto company, but today you can. Kleros has posted a comprehensive overview of the company’s financials from last year. 

In crypto this is truly an unprecedented level of transparency and says a lot about the company. 

Take a look here. 

Conclusions

The annual report released by Kleros is more than just a glimpse into the company’s operation – it’s a comprehensive look at what’s going on, why and what’s coming next. This is what crypto investors dream of. 

We are interested to see how Kleros will pivot to align with the ever changing work climate, especially now with forced changes during a global pandemic. Decentralization tauts a plethora of powerful benefits, but being ‘better’ isn’t always enough to kickstart a business. Growth is a strange beast. The current hurdle stunting cryptocurrency adoption is a common debate – is it too confusing to use, too difficult to onboard or something else entirely? Therefore, over the next year it will be interesting to watch Kleros continue to pursue adoption of their products, especially in this climate where a decentralized court would be a powerful tool. 

Overall, there’s a lot for Kleros to be proud of from the last year and it certainly seems like there is a bunch more to look forward to over the next 12 months.

*Disclaimer – Kleros are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.

Alex Aves
Alex is a crypto enthusiast that has been enthralled with the crypto space for over two years now. He currently works in the marketing team for Liquid, one of the leading crpytocurrency exchanges.

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