Dether (DTR) - BREAKING BARRIERS TO ETHEREUM MASS ADOPTION
WHAT IS DETHER?
Dether provides a decentralized peer-to-peer ether network that enables anyone on Earth to buy ether with
cash and spend it at physical stores nearby. No bank account is needed, just a mobile phone with internet
access. Our belief is that the beauty and power of the Ethereum technology should be easily accessible to
We’ve decided to put all of our energy and that of the Ethereum community into helping us build the first
trustless solution that will allow anyone to be able to interact with the Ethereum blockchain no matter who
you are, where you are, and without the need for a middleman.
BREAKING BARRIERS TO ETHEREUM MASS ADOPTION
As Satoshi Nakamoto envisioned the first blockchain use case as a “peer-to-peer electronic cash system,”
people all over the globe have been increasingly using not only bitcoin, but also cryptocurrency, as a means
With cryptocurrency you can now:
Buy a Subway sandwich in Buenos Aires.
Buy a painting in Paris.
Pay your children’s tuition fees in New York City.
Buy a deli sandwich in Melbourne.
Buy a camera in Tokyo.
And that’s just the beginning.
In this context, mobile phones are the new banks. And cryptocurrency is the new money. That’s the reason
we’ve also shaped the Dether map as a decentralized solution for any physical store willing to accept ether
as a means of payment.
No credit or debit card is needed to spend ether at physical stores.
CUTTING-EDGE APP FOR ETHEREUM MASS ADOPTION
Dether is the world’s first peer-to-peer ether network. It enables anyone who has a smartphone to buy and
sell ether using cash and spend it at physical stores listed on the Dether map.
Dether creates a worldwide ecosystem of ether buyers, sellers and physical stores willing to trade ether
for fiat cash and accept it as a means of payment. Dether provides the infrastructure for people to embrace
Ethereum technology in their everyday lives. Dether is available on any smartphone. No bank account is
needed to buy and sell ether. No credit or debit card is needed to spend ether at physical stores.
BUY AND SELL ETHER. ANYWHERE. ANYTIME. WITH CASH.
Dether offers the unique ability to let anyone safely buy and sell ether anywhere, anytime, with cash.
Because we believe that Ethereum won’t know mass adoption until it’s easily and quickly accessible to
anyone on Earth, we decided to create the first Dapp that brings the key solution in order to interact with
the Ethereum blockchain from anywhere in the world.
• The fastest and easiest way for anyone to buy ether
Dether offers the unique opportunity to have access to ether within
minutes by using a phone and spending cash.
Users are able to discover ether sellers, called tellers, near them on
the Dether map, their ETH/fiat rate, the fees that they take, and chat
anonymously with them. Buyers are free to engage a conversation
with the seller they want to trade with in order to agree on the trading
conditions and the meeting point to exchange ether for cash.
Any individual that has cash is able to buy ether on Dether. Cash is used
in all countries across the globe whether or not a person is unbanked.
And the adoption of smartphones is increasing all over the world. At the
crossroads of cash usage and increasing smartphone adoption is Dether.
Its unique solution gives anyone the opportunity to access ether, and
thus Ethereum blockchain, by spending cash. Dether aims at unleashing
the potential of Ethereum technology by providing a quick, easy and
secure gateway to the decentralized future.
• A cross-border market for ether tellers
Any ether owner can officially become a seller on Dether and benefit from a new, profitable activity.
Ether sellers can now become mobile “PTM” (People Teller Machine) by being on the Dether map and selling
ether for fiat currency anywhere in the world at any time. Sellers are free to set up their own ETH/fiat rate
and their own fees.
USE YOUR ETHER IN PHYSICAL STORES ALL OVER THE WORLD
• Spend ether at local stores, shops and businesses
On Dether, users discover physical stores near them that accept ether.
As Ethereum popularity is quickly increasing throughout the world,
more and more businesses are accepting ether.
Today, buying a Subway sandwich in Buenos Aires with cryptocurrency,
a deli sandwich in Melbourne or a camera in Japan, is now possible.
Tomorrow, the Dether map will give everyone the opportunity to
discover all of the places nearby where ether is accepted.
Dether users are able to discover shops near them that:
- accept ether as a means of payment
- are willing to buy or sell ether for cash
Users are able to spend their ether without the need for a bank account or a credit/debit card. For specific
needs, users are able to type the kind of physical stores they are looking for (e.g.: “restaurant”) in their city
to see which ones are accepting ether.
• Adding their own shops to the Dether map and expanding their businesses
Shop owners can let the whole world know that they’re now accepting ether! As the number of ether
buyers and tellers that use the Dether map will grow rapidly, physical stores are also able to be part of the
ecosystem by being listed on the Dether map.
Thanks to an auction mechanism, shops will compete with other businesses nearby for better visibility on
the Dether map. Similarly, like on any search engine or promotional marketplace, physical stores are able to
bet on specific key words and expressions to be more visible to Dether users on the map.
In addition, Dether will offer a complete back-office system to any shop wishing to accept ether, in order to
manage their liquidity and keep up with cryptocurrency fluctuations, thus having the possibility to directly
convert received ether into fiat currency.
In order to embrace our vision of creating the world’s first decentralized application for ether buyers, sellers
and physical shops, Dether introduces the ÐTR token.
1 WHAT IS THE ÐTR TOKEN?
ÐTR is the ERC20 token that allows people from all over the world to participate in Dether’s development.
Dether proposes a freemium model, where users are incentivized to use ÐTR tokens to unlock additional
features on Dether as a seller or a physical shop and have more visibility on the Dether map. Moreover,
Dether proposes a model where the quantity of ÐTR in circulation will be deflationist throughout time
thanks to the ÐTR Token Buyback Program.
2 WHY LAUNCH THE ÐTR TOKEN?
Dether relies on ÐTR token holders for its future development. ÐTR tokens will enable the Dether ecosystem
ÐTR tokens serve two main goals:
• ÐTR is the key token needed to unlock additional features and ensure better visibility on the Dether
map. As a teller or a physical store, staking ÐTR tokens is required in order to increase his or her
visibility on the Dether map to buyers. When multiple sellers or physical shops who have ÐTR tokens
are competing for a trading zone on the Dether’s map, an auction system chooses the winner for a
certain period of time.
• Launch a buyback program of ÐTR tokens in order to decrease the quantity of ÐTR tokens available on
public markets over time as Dether’s success worldwide increases and add liquidity to the market.
3. USING ÐTR TOKENS FOR VISIBILITY ON THE DETHER MAP AND ZONE INDEXING SYSTEM
Using ÐTR tokens in the Dether app will allow tellers and physical shops to have better visibility. They are
given the possibility of owning a zone through an auction system.
The Dether map will be divided into small areas of square meters (zone indexing system) in order to precisely
locate each area on Earth. Therefore, it will be possible to identify and categorize each crypto-related
service. In order to increase accuracy and avoid spam, different referencing systems will be available: one
organic, and one premium system accessible through the ÐTR token.
The Dether map aims at referencing the worldwide ecosystem of ether sellers (called tellers) and physical
stores. Therefore, there are two types of ether seller entities on the app: tellers and physical shops. Each of
them has their own registration process and a user cycle.
Tellers: a teller represents a legal entity (a human being, firm etc.) willing to sell ether at a given price and
in accordance with the legal limitations of the country from which he or she operates.
Physical stores: A physical store represents a legal entity registered in its country, willing to be visible on
the Dether map as a store accepting ether as a means of payment. Said store will also be able to broadcast
commercial advertisements regarding its location.
Organic indexing system
• For tellers: The more a teller trades, the greater organic visibility they will have on the Dether map.
The radius of his trading location point will expand, as well as his visibility on different zoom views on the
• For shops: Shops are organically visible through keyword searches, according to the payments they
5.3.2 Premium indexing system
Directly linked to the zoning system, tellers and shops have the ability to own a zone in which they have
• For tellers: Tellers will have exclusivity if they own a zone. All of the other tellers on that zone will
• For shops: If a shop owns a zone, it has exclusivity on said zone. All of the other shops around will
only be visible on the smallest zoom level, with limited information shown. Once a sufficient number of
physical stores are listed, Dether will set up a keyword system, enabling every physical store to add “tags”
that match the business’s description. For competitive areas, a keyword auction system will be set up for a
given geographical area. Thus, physical stores will be able to appear in priority over a given area, according
to the keywords entered by users in the search bar of the Dether map.
How will the auction system work? An entity opens a bid for an area by making a deposit. For the next
24 hours, any other entity can bid to appear on this area. After 24 hours, the entity that made the largest
deposit takes possession of the area. At any time, an entity may reopen an auction to take possession of
the zone. From then on, entities have 24 hours to bid to appear on this area. In the meantime, the current
owner of the area keeps it until the auction is over. A monthly fee between 0.05% and 0.1% of the deposit
will be taken in order to feed the ÐTR Buyback Program Fund, which intends to constantly buy ÐTR tokens
back and burn them.
• Participation in the Merkle Week Hackathon in Paris
• Development, smart contract, and wireframes design
• Proof-of-concept development that enables users to register as a seller on a map, chat with buyers and
• User tests
• Live demo and pitch in front of the jury
• First prize winner
• Interface: progressive app available on any smartphone
• Smart contract:
◊ smart contract enabling tellers to register a location point on Dether map
◊ availability button for tellers to show buyers when they are available for trades
• Wallet: light wallet with encrypted private key on the device
• Peer-to-peer messaging: encrypted third party messaging (ex: Telegram)
• Map: external provider
• Ethereum provider: Infura
◊ production ready progressive app for tellers
◊ beta physical stores auction process
• Smart contract:
◊ beta version of zone auction process to reserve a zone on the map
◊ centralized moderation for physical stores to avoid illicit businesses
◊ app stores: Android and iOS native apps
• Payment: alpha version of payment channel network for physical store payments
• Provider: IPFS/Swarm browser Ethereum node
• Map: decentralized map via IPFS/Swarm
◊ Production ready for physical stores to be visible on the map via a freemium model.
◊ Physical stores can stake ÐTR tokens to be more visible on Dether map.
• Smart contract:
◊ zone auction process to reserve a zone on the map
◊ additional feature for tellers: ETH to cash instant trades
◊ Peer-to-peer messaging: encrypted chat integrated in the app (Whisper)
◊ Decentralized moderation for businesses visibility on Dether Map
• Additional features:
◊ Wallet: external stable coin integration for ETH/Stable coin conversions
◊ Trade sponsorship between users
◊ Optional feature: external KYC for buyers and sellers (Civic, uPort).
◊ Desktop app improvements for users
◊ Tellers and physical stores services automation (ex: trading Ether/fiat automation for tellers; physical
stores bills emission).
• Smart contract:
◊ Keywords auction process on Dether Map for physical stores
• Map: IPFS/Swarm
• Ethereum provider: Browser node via IPFS
• Reputation system: addition of a decentralized reputation system for physical stores based on comments
and feedback given by users after trades
◊ Decentralized front-end on IFPS/ Swarm
• Smart contract:
◊ Voting rights for Dether Community members submitting proposals and voting for Dether’s future
• Map: IPFS / Swarm
• Usage of external service for decentralized court and trade arbitration
ÐTR TOKENS PROJECTIONS
ÐTR token total supply: 100.000.000 ÐTR max will be minted during the crowdsale.
Maximum cap on crowdsale: € 15 million
Method: ETH accepted
Tokens will be directly distributed to contributors as soon as the crowdsale ends.
Founders, team & early contributors: 15%
Tokens for the team members, as well the founders, will be vested for 2 years with a 6-month release
program. Tokens for early contributors will be vested for 6 months.
Participants of the bounty program will receive their tokens as soon as the crowdsale ends.
Reserve for future usage: 30%
Tokens will be locked for 2 years. After that, tokens will either be progressively reserved for future
developments, distributed every 6 months for 4 years and/or they will be progressively burnt according to
the amount of tokens previously bought and burnt. Distribution decisions will always be made in regards
to the revenue generated.
COSTS AND FUNDING BREAKDOWN
Funds raised during the crowdsale will cover Dether’s development and its operational costs. Distribution
will include: core development, operational, marketing, communication and business development, legal and
Core development by Dether’s team – 40%
The technology and the solution will be developed by Dether’s team. Therefore, the most important cost
section will be dedicated to recruiting the best team members over the next five years.
Core development will involve the development of the technology as described in this document. This
includes the entirety of the developments detailed in the roadmap towards a fully decentralized mobile
solution that enables peer-to-peer ether trading and payment.
Operational – 20%
This covers the necessary costs incurred for a functional system. This includes: hosting and infrastructure
costs, offices, daily operations, indirect employment-related costs, management and other related expenses.
Communication, marketing and business development – 25%
Communication costs will be used to make Dether visible in regions where the market is most profitable
and where it is needed the most.
Marketing and business development costs will be used for partnerships with big retailers and international
physical stores and companies that will accept ether as a means of payment and/or operate fiat/ether
Legal and compliance – 15%
Legal and compliance costs will be associated with the development of Dether’s decentralized and
international solution. Legal costs might vary from region to region regarding KYC and AML regulation, fiat
to cryptocurrency exchange, and paying in ether at physical stores. Regulatory approvals may be required
in some regions, although our goal is to maintain privacy protection, peer-to-peer trading and the fight
against censorship for our users from all over the world.
Dether Development Transparency — Part 1
Unveiling Dether’s P2P network of Ether traders and shops.
This blog post is the first in a series of articles describing the technical choices of Dether, and our long term vision. In this first article, we will answer all the major questions we’ve received up until now about our major choices thus far.
1/ Why Ethereum?
People often ask us why we’ve chosen to help cryptocurrency reach mass adoption using Ethereum and not the first cryptocurrency (in term of marketcap) which is Bitcoin. There are different reasons for that.
The first is that today, Ethereum is the most reliable blockchain for smart contracts. And this is crucial as we see Dether and its protocol to be fully decentralized, and reachable everywhere by everyone. Also, as true Ethereum believers, we strongly believe there will be a growing demand for an easy access to ether, and also tokens. Moreover, ether can be an easy entry to get other cryptocurrency in general, as in most exchanges, ETH is paired directly with all other major cryptocurrency.
2/ Why do you have a token instead of taking a fee?
Having an easy access to get ether using cash is a need shared by a lot of decentralized applications (Dapps). We have verified this assertion after the launch of Dether’s alpha, as we have been contacted by many teams working on Dapps. That’s the reason why Dether will have an API to enable an easy access to all information we have gathered.
Using a private paying API through Ethereum makes no sense. However, it makes more sense to develop a protocol based on a token instead of a centralized application taking fees.
In order to succeed in creating a reliable protocol with an incentive for using it, you need your own token to keep and share the value created in your ecosystem.
The drawback of having a token is that you create friction and add hidden costs to your users’ interactions (conversion cost etc..). That’s why we will have a freemium token system based protocol, where it will be possible to use the protocol without tokens, but users will be incentivised to use it. We will go in depth in Dether’s token system in further articles, but it aims with multiple mechanisms to incentive everyone in the app, without creating friction for new users.
For more information about the use of the ÐTR token, you can find all the explanations related to our token model in Dether’s whitepaper: http://whitepaper.dether.io
3/ Why have you chosen to use a PWA (progressive web app) instead of a native app?https://alpha.dether.io
We launched Dether’s alpha on October 2017 on Ethereum Kovan testnet.
We have chosen to use a PWA because it facilitates a lot of things. First, you don’t have to go through any AppStore validation. And currently, for a crypto-related mobile app, it can be challenging to be validated by the AppStore.
Also your app is platform agnostic. A progressive app may run normally like a website, but we chose to encourage people to add it on their phone home screen, to recreate the mobile experience. So we put in place a system where we detect if the users are using their browser and show them a very simple installation process to follow. And once we detect that the app is running through the home screen link, we launch the real app. Thus, we recreate a mobile app experience, with an easy version management, and AppStore censorship resistant.
As a result, in less than a month, more than 3.000 people all over the world have installed Dether on their mobile phone and used it.
4/ Do you really have no back-end?
Yes, the alpha runs without any back-end, as we just need some external API, like mapbox for the map, and our own Ethereum provider. That’s it! For the rest, it’s just web3 to Ethereum node communication. This architecture has some drawbacks: loading a lot of data from an Ethereum node, can be a struggle, so for example, in the first version of alpha, we were loading all the ether sellers on the map.Ether sellers located on the Dether map
But as more and more ether sellers were added, it’s too long to handle this data. Now, we load only the ether sellers from the country where you are. And for the first mainnet beta version, we will load only the sellers from your postal code and the ones closest to you.
5/ How do you handle a user’s private key?
We create the mnemonic phrase with entropy generated by the user’s phone move, and generate one private key. Once created, we encrypt it all with the password provided by the user and store it in the local storage of the app.
For every transaction in the app, we decrypt the private key with the password provided by the user to sign the transaction (but never keep the private key in memory), and broadcast the signed transaction through our Ethereum node.
This way, the private key is never stored decrypted in the system, and it never leaves the user’s device.
6/ Do you plan to add other cryptocurrencies?
We will add ERC20 tokens in Dether’s future version. It will be possible for users to buy and sell token using cash anywhere in the world. For other cryptocurrency, we are looking for solutions to bridge the Ethereum ecosystem and other cryptocurrency.Rootstock (RSK) <> Dether @Devcon3
For now, we are thinking about Cosmos, which will be soon available, and Rootstock (RSK) which will be an EVM side chain to Bitcoin. Our main concern about that is that layer should be pegged in some way with our token. And it’s definitely something we would like to add for 2018.
Next article to be published in the Dether Development Transparency Series: “Introducing Dether.js”
< LET’S GET IN TOUCH >
Slack: http://slack.dether.io Telegram: http://t.me/Dether_io
Thanks to Mehdi amari.
Presenting the Dether team
Team members talk about why they all jumped into this ambitious adventure and their vision for the future of Dether
How do you think Dether will help people?
When I first started thinking about Dether, I was always trying to think of the potential users behind it, and whether or not they are familiar with blockchain technology. And the more time passes, the more I strongly believe that Dether will help the masses to easily get familiar with cryptocurrency and blockchain, without prior knowledge about it.
Personally, I pay close attention to user experience when building Dether. If we really want Ethereum and decentralized applications to go mainstream, then anyone should be able to use Dether to buy and sell Ether. That’s the reason why we decided to have a smooth user experience with a pleasant user interface. And it should be the same for every decentralized application.
When building a decentralized application (Dapp), the main challenge for teams is to make your users actually use blockchain technology without even noticing it.
People need a simple and universal way to buy and sell cryptocurrencies, no matter where they are in the world. Today, there are no standards, like ATMs, present in all countries. That’s what we want to build with Dether, and thanks to the characteristics of cryptocurrencies, and to the rate of penetration of mobile phones in our lives, one just needs to have a phone and cash, and an application to connect everyone.
What are the key tips to keep a team motivated towards the same vision?
I think that the challenge behind Dether’s mission to break barriers to Ethereum mass adoption keeps us all super motivated and excited about what we are building. Everyone in the team has experienced a cryptocurrency cash-in or cash-out problem at a moment in our life, whether it was for us, for a friend, or for a relative. It shaped our vision and our ambition to build a working alpha before the token sale so that our community members can actually have a good visibility on Dether, instead of just words on a whitepaper.
We also took time to install an entrepreneurship culture in the team and it has also led every member to be a real asset. The fact that everyone can propose new ideas, quickly test them and mesure them to know if an idea is a success or not keeps everyone motivated towards an ambitious mission.
Last, but not least, it’s important to have diversity in the team. When we look at the team members’ backgrounds, it’s so interesting to see how we all have different backgrounds in the team: we have a former break dancer, a former McDonald’s employee, a former Disneyland performer, a former Uber driver, a former SFR mobile phone salesperson, and so on. And this diversity brings innovation and keeps everyone on the track towards the same mission.
We are lucky to be a team of friends sharing the same vision around a project. Thanks to this, things are done very naturally, and everyone can use their skills to push the project forward. It is this strength that characterizes us and without this alchemy, we would not be where we are today.
Why did you join Dether, and what do you hope to achieve?
Before Dether, I worked with Mehdi and Hamid on a project as a Full Stack JS/Ethereum developer. And since I was already very interested in the Ethereum blockchain, I didn’t hesitate once when they asked me to work on Dether. Moreover, the entrepreneurial aspect and technical innovation are factors of great importance to me.
On the technical side, my background as a web developer helped me to adapt to Solidity (the development language of the smart-contracts on the blockchain Ethereum). As a developer, what stimulates me is to develop something today and develop something totally different the next day — I never want to have a routine! The Ethereum Blockchain is still in its infancy, so we have to constantly create, innovate, and look for the most efficient way to interact with it using the libs available. From this point of view, Devcon3 has shown that the Ethereum community is doing a tremendous job of providing us with effective tools to improve our productivity.
The Dether Alpha release was a real success, the community gave us a lot of positive feedback about the features, the design etc… It’s a real pride for us to see that people appreciate our work and to see our application live on testnet, it’s proof that the hours and nights of work weren’t in vain.
But this is just the beginning… The next big challenge we are going to face is to release the app on Mainnet. This important step in the life of a Dapp is crucial and will confront us with the real problems encountered by users who trust the Dether app and the Ethereum blockchain. The security aspect is going to be a great challenge on which we have already started to work, and which we are constantly improving.
What are your thoughts on the Ethereum community?
I think the people involved in blockchain are people who are really engaged to change the world, interested in new technologies and want to emancipate themselves from the current monetary system. This technological evolution opens the door to a new world in which everyone wants to participate become the pioneers of this new system.
It is in this context that I became interested in the Ethereum blockchain. The fact that we can decentralize all kinds of applications opens up huge and interesting perspectives. For my part, Dether is the missing link for the democratization of crypto to become accessible to all.
I also find that the visual identities of the Ethereum ecosystem projects have nothing to envy regarding the projects outside the blockchain. There is a real effervescence with all these projects and concepts that are created, and each one tries to develop a real and original identity. Through Dether, I’m lucky enough to be able to fully blossom in a project where I can do what I want, creatively speaking.
I think that the Ethereum community is a dynamic and constantly growing community, as proof, the latest major event, Devcon3 has brought together people from all over the world to discuss, exchange on innovative projects, and reflect on how to break down barriers to allow everyone to access blockchain technology.
The Dether Alpha release has been positively perceived by the community, and we have exchanged with potential future partners whose applications are complementary to Dether. Some of them build reputation systems, others build identity systems, and some come up with voting or other forms of governance. Everyone has understood that to help the growth of the blockchain ecosystem, we must create synergies in order to develop real interoperability (when it is possible) between the different products on the market. It is in this vision that Dether is part of this process, and we are working very hard on that.
We hope this article has given you a little more insight into the overall vision of the Dether project team. We will soon publish a more in-depth individual interview of each member.
< JOIN THE DETHER COMMUNITY >
Introducing “To The Moon,” the Crypto Quiz Created by Dether
Can you name all the crypto logos? Test your knowledge and compare your score to others in this home made game!ToTheMoon game, a gift by Dether.io
Dear Dether community,
Today is Christmas day, and we couldn’t just leave our community without a small gift… We’re happy to present you a little game for fun called… ToTheMoon!
You’ve probably played with or heard of the Logo Quizz? We’ve made the same game but for crypto logos! Test your knowledge in naming all the crypto logos and compare your score to others!https://tothemoon.dether.io
Why creating ToTheMoon?
Recently we had to deal with an unexpected situation… We received several questions about the Dether’s token aspect of the project:
“Hello, I bought DTR tokens but haven’t received them in my wallet yet?”
“Hello, I have DTR tokens, can you tell me when you will be listed on BITTREX?”
Quite strange… since our token sale has not yet taken place! After a bit of investigation, we discovered that the token name “DTR” already exists! And yes, this name is used by another project. As the blockchain ecosystem is boiling with new ideas, projects are created every day, and it was to be expected that this kind of situation would happen. It’s why we logically decided to change the token’s name! This was followed by brainstorming with the whole team.
Lots of questions came up:
“What do we do?” “How many letters should we use? Three or four?”
We came up with proposals for the new name too:
“DTH?!” “DETHR sounds good too?” “DTHR is not bad, right?” “What do you think of ‘DETR’?”
Roman, Dether’s UX/UI Designer, had the first idea of consulting our community through a survey. Who better to determine what will be the token name will be than the community that supports the Dether project? From this survey came out the name DTH and it’s the one we chose!
You know, the token’s name is part of project’s identity , admittedly it is not the most important but it is essential to have a name easy to remember and easy recognize, everyone’s okay with that, we think…
So, if we tell you:
BODHI… XPLAY… BCAP… or BOLENUM?
Or if we show you this logo:
Or this logo:
Or this one :
It’s not easy to know what project this token name is for or what project this logo belongs to?!
That’s where Ishak, Dether’s full stack JS developer, got the second idea…
Why not create a game where people should associate the token’s name with the right logo?
That’s how ToTheMoon was born!
HOW TO PLAY ?
It’s very simple: a crypto logo will be displayed on the screen, and you have 3 seconds to select its name. But every time you make a mistake, you’ll have to start again!
You can share your score and challenge people in the crypto community!https://tothemoon.dether.io
Dether and Kleros Join Forces to Launch Decentralized Arbitration for Cryptocurrency Traders
Dether is thrilled to announce our partnership with Kleros, the leading protocol for a decentralized justice system.Kleros x Dether join forces
Since Dether’s inception, we’ve been been looking at the best way to swiftly and justly arbitrate possible disputes, like a retail shop in non-compliance in local laws or a transaction dispute between users.
Today, we’re pleased to announce our official partnership with Kleros.
What is Kleros?
Kleros is a blockchain Dispute Resolution Layer that provides fast, secure and affordable arbitration for virtually everything. Kleros allows users with disputes to be connected with a specialized juror from a global pool of experts.
Using blockchain technology, users can count on transparency and evidence integrity, relying on game theoretic incentives to have jurors rule cases correctly. The result is a dispute resolution system that renders ultimate judgements in a fast, inexpensive, transparent and decentralized way.
What is Dether?
Dether is building a worldwide peer-to-peer ecosystem of crypto buyers, sellers and physical shops willing to buy and sell ether for any fiat currency without a middleman.
The first solution built on top of Dether’s protocol is a decentralized and user-friendly mobile app that enables anyone to trade Ether for cash.
A perfect fit between Kleros and Dether
- Managing disputes between users
Kleros can link Dether users to jurors regarding potential disputes, based on the the ERC792 arbitration standard. Jurors in Kleros are compensated for their work by arbitration fees.
Imagine that Alice wants to cash out her Ether for Euro, and connects with Bob on Dether. After meeting, Alice realizes that Bob has not given her the full amount of Euro — yet Bob assures her he has. A dispute arises.
They both select Kleros as arbitration provider. Evidence is sent to Kleros, which draws a jury of experts. Jurors analyze the evidence and vote Alice as winner. The smart contract reimburses Alice. Jurors collect arbitration fees for their work, which are paid by Bob. The case is closed.
2. Proposing a decentralized escrow system for fiat currency
One of the barriers in peer-to-peer cryptocurrency exchanges is to actually meet up with the buyer or seller in order to exchange fiat for cryptocurrency.
Some individuals would rather stay at home to freely exchange crypto for fiat currency. In this case, Kleros can become the new decentralized third party that will handle the escrow system in exchanging fiat cryptocurrency for cryptocurrency. Kleros jurors will be in charge of releasing the funds after both parties have sent their funds.
3. Disputes about malicious shop listings
In another case, Kleros can step in if a shop owner lists his or her shop on the Dether map while promoting illegal items or services. This could be spam, inexact locations or illegal items. Kleros jurors will be able to manage the listing on the Dether map.
Dether for shops, coming soon on Dether.io
Kleros and Dether will be a perfect fit, ready to propose many relevant solutions that we believe will go a long way in making Dether’s ecosystem safer and more equitable for users.