This document outlines the concept of a KORD service, a participant in the KORD network who is economically incentivised to provide a service to the network and can be held accountable for its actions.
The KORD protocol is at an early stage of development, expect this document to change frequently during this early phase.
The KORD network aims to provide the infrastructure to build distributed, decentralised databases where you don't necessarily need to trust all the participants in the network to be well behaved, but you do trust that all participants are economically motivated (i.e. they want to profit in some way, either financially, morally or otherwise).
With this in mind, we define a KORD service as being a network participant who provides a service to the network in return for KORD tokens, but also stakes an amount of KORD tokens which can be claimed as collateral if the service is proved to have misbehaved.
TODO: describe how the economic incentives can be implemented using Ethereum smart contracts.