Cryptocurrency

Aragon prepares to launch its court decentralized Ethereum

Aragon is preparing to enable the first court decentralized in the blockchain of Ethereum, then announce their preactivation. Users will be able to help resolve conflicts in the network and shall ensure the fulfillment of contracts, thus becoming the judges of this protocol. To do this they will have to acquire a new token type —known as ANJ—, which is available for exchange from this week.The protocol is known as the Aragon Court and was presented for the first time in the Congress Paralelní of Hackers, held in the month of October last year. The initiative has two distinct phases, after its code was incorporated into the main network of Ethereum at the end of December. The first part, which will last a whole month, will focus on enabling the exchange of tokens of Aragon (ATN) for the new tabs of Aragon Court (ANJ), so as to be able to use this tool. The second phase, on the other hand, will focus on the launch of the platform.The team Aragon today announced that the first phase of preactivation began this January 7. All users of Aragon and Ethereum that are interested in participating in this platform will be able to access the tokens until the next 10 February under the equivalent of 1 ATN, which is equal to 100 ANJ. The exchange will take place in the main web page of the protocol, in which it also explains in detail the project.

The importance of these coins lies in the fact that only those users who possess ANJ may become the jury of the assets of the platform. Also, they will have the ability to assist the attorneys, and to intercede in conflicts that are discussed in the court. The token exchange is still active after the launch of the platform, on the 10th of February, under a different bid to the predamping.

What is Aragon Court?

The new platform of Aragon plans to introduce a new justice system that is decentralized. An idea that had already been outlined by Vitalik Buterin, developer of Ethereum, in the year 2016. Aragon Court introduces the possibility of forming a tribunal to digital without the intervention of third parties, a vision that opens up new possibilities legal.To do this, aims to resolve the conflicts between the users, the contracts and the DAO (organization autonomous decentralized) that make life on Ethereum. The developers of the protocol have been clarified that the goal of the court is to ensure the fulfilment of the contracts and intelligent and to resolve disputes that cannot be solved by technology. In this sense, it describes all those “disputes which are subjective” that require human intervention can be presented in the platform.The court will be made up of a group of judges and lawyers registered in the platform, which can be any user on the network of Ethereum. Participants have to bet their chips ANJ in a dispute determined to be recruited as a juror. In addition, earn fees each time awarded with success in one of these legal conflicts.To avoid corruption, the team of developers of Aragon Court decided that the judges will be selected by drawing lots. Also, the parties involved will determine how many judges they wish to participate in the conflict. According to statements by Luis Cuende, developer and co-founder of Aragon, this court could begin to operate with real cases for the year 2021. Although it is not known if this date is brought forward due to the recent advances that have been made with the launch of the platform.

About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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