Herocoin promises to revolutionize online betting in the eSports industry. Find out how the platform plans to accomplish that ambitious task today in our Herocoin review.
What Is Herocoin?
Found online at Herocoin.io, Herocoin is an online eSports betting platform based around a cryptocurrency called Herocoin, or HERO.
The platform’s ICO is scheduled to begin on September 14 at 14:00 UTC. During the ICO, the Vienna-based development team will make 600 million tokens (out of a 2 billion token total supply) available for sale.
Overall, the goal of Herocoin is to solve problems in the eSports betting industry by creating a provably fair platform designed with bettors – not the house – in mind.
What Problems Does Herocoin Seek To Solve?
HERO seeks to solve major issues with the world of centralized eSports betting. Overall, HERO wants to solve the problem of “the house always wins”. At the same time, the platform plans to reduce fees, boost odds in favor of the gamer, and ensure players who win regularly cannot be banned. Here are some of the specific problems HERO seeks to solve:
- Unfair Conditions: With centralized betting platforms, odds are created by experts based on tons of exclusive data that isn’t disclosed to the public.
- No Transparency or Trust: Centralized authorities control the payouts, leading to a lack of transparency over the flow of money.
- No Social Dynamics: Social dynamics are lost because interfering middlemen prevent direct peer-to-peer interaction.
All of these problems are preventing the widespread adoption of an eSports betting industry. Herocoin wants to change that.
How Does Herocoin Work?
Herocoin, or HERO, aims to radically change the centralized world of online betting. Today, most gambling and betting websites are centralized. They lack transparency and security for users. HERO wants to introduce a different model where anyone can join or create games on the Ethereum blockchain.
HERO enforces active and passive income streams for all participants in the ecosystem. The transparent and decentralized betting process breaks the traditional paradigm of “the house always wins.”
In more straightforward terms, Herocoin wants to implement a trustless betting system built on the Ethereum blockchain. This leads to a fairer, more transparent, more player-friendly betting and gambling process.
Obviously, these benefits are similar to every other blockchain-based gambling platform on the internet today. How does Herocoin plan to differentiate itself from the competition?
HERO’s ecosystem consists of game creators and players. Everyone is able to participate by simply joining or creating games. The whole community benefits from the growing activity as every HERO token holder is guaranteed to receive a small amount of commission from all played games.
Additionally, anyone who creates games on HERO will earn a special provider reward.
To break it down in a way that’s easier to understand, the HERO ecosystem revolves around three parties:
- Token Holders: All token holders are guaranteed a general reward out of all the distributed prize pools.
- Players: Game winners receive their respective part of the prize pool.
- Game Creators: Game creators are rewarded for their effort to create and manage games.
All of this activity takes place on a website called herosphere.gg. That website, which will launch in February 2018, will allow users to predict events that occur in eSports games. Your prediction will compete against the prediction of a friend or member of the community. You win points and money (in the form of HERO) for accurate predictions. However, you can also avoid playing with real money and win prizes in exchange for your correct prediction.
Who’s Behind Herocoin?
Herocoin and the HERO project are made by a Vienna, Austria-based company named Byte Heroes GmbH.
HERO’s team includes co-founder and CEO Paul Polterauer, co-founder and CTO Philip Peinsold, and co-founder and COO Bernhard Blaha.
The HERO project was launched in Q3 2016 with the goal of creating an Ethereum-based cryptocurrency. However, the Herocoin.io official website traces the start of the project all the way back to Q3 2014.
By Q2 2018, the developers aim to have the first implementation available to the public (this is when the herosphere.gg is expected to launch). By Q4 2018, they aim to have developed the complete implementation of their trustless and decentralized gaming platform.
The development team is based in Vienna, Austria.
The HERO ICO
The HERO ICO is taking place on September 14th, 2017 at 14:00 UTC. The ICO has a 14 million EUR hardcap. During the ICO, the company will issue up to 600 million Ethereum-based HERO tokens.
During the crowdsale, each token will be priced at 0.024 EUR per 1 HERO. 1 ETH will buy you 8500 HERO tokens, which also go under the symbol HRT.
There will be a total token supply of 2 billion HERO tokens. 30% of those tokens (600 million) are available during the token sale. 15% are being kept in the team pool. 20% are kept for development, 20% for marketing and partnerships, 8% for eSports implementations, and 7% for company cold storage.
You can contribute to the ICO using ETH.
Herocoin, or HERO, is an online betting platform catered to the eSports industry. The platform is being developed by a Vienna, Austria-based team. The HERO ICO will take place in mid-September, with the full release of the herosphere.gg platform (the actual betting platform) expected by Q2 2018.
You can learn more about Herocoin, the HERO project, and their herosphere.gg eSports betting platform by visiting the company online at Herocoin.io.