Algorand-based Decentralized oracle network, Goracle has announced a technical partnership with Kleros, the dispute resolution protocol. The goal of the partnership is to help resolve disputes that arise on Algorand blockchain.
Decentralized dispute resolution is one of the most fundamental elements of decentralized governance, which calls for fair and credibly neutral resolution of disputes to protect the integrity of a network.
About Kleros: Kleros is the world's first decentralized court used by businesses, dApps and DAOs for dispute resolution. When a dispute arises, Kleros randomly selects a panel of jurors to come to a decision. Utilizing blockchain technology, Kleros makes the dispute resolution process secure,transparent, trustless and permissionless. Kleros’s general purpose court system protocol works as a decentralized third party to arbitrate disputes in every kind of contract, from extremely simple to highly complex ones such as insurance claim arbitration, decentralized curation and identity verification.
About Goracle: Goracle is a unique decentralized oracle network that is built on the Algorand Blockchain which enables universally connected, decentralized node networks to securely interact as independent sources to provide critical off-chain, real-time external data feeds needed by complex smart contracts. Goracle has launched crypto-currency and sports feeds, with plans for weather, traditional finance and arbitrary data in the coming months.
“Kleros has been hard at work this year to bring access to decentralized justice to more blockchain environments, and we are excited to be working with Goracle to do this for the users of the Algorand blockchain.” said Guangmian Kung, Integrations Lead at Kleros.
Following this integration, Algorand dApps can use Goracle’s large, secure and open-source community of node operators to integrate Kleros. When a dispute is encountered, the process will adhere to Kleros' ERC-792 Arbitration Standard, and related parties will submit evidence through the ERC-1497 Evidence Standard. Then, using Algorand's state-proof technology, the dispute will be created in the Kleros court. When a decision has been made, node operators will reach consensus on the result, which will be sent back to the disputed contract on Algorand, where the dispute will be resolved.
"We're excited to collaborate with Kleros, which offers reliable justice as a service. This integration with Kleros will enable both enterprise and general dApps to resolve disputes in a decentralized manner. Through the help of Goracle's decentralized data feed and Kleros’ robust network, we can help accelerate the growth of DeFi and crypto on Algorand." said Goracle CEO Abdul Osman.
