Herosphere Is to Change Online Betting Industry Launching ICO in September
| Updated by Maria Konash · 4 min read
Herosphere.gg, the developer of the popular online esports prediction platform, makes public its intention to issue the ethereum based HEROcoin in mid-September.
Herosphere platform focuses mainly on esports, allowing gamers and fans to predict the outcomes of their favorite online games and compete against each other for winnings. It operates avoiding third parties controlling the cash flows, so the users don’t have to worry about hidden costs and operations.
Herosphere generates smart contracts using the HEROcoin, which allows users to interact directly with each other and keep the process, and money flow secure, transparent and immutable. In other words only community controls all the operations.
According to the project’s whitepaper, one of the coin’s most unique features is that users may not even participate in a a pooling event to earn more coins, as it is possible just by holding HERO in reserve. It works the following way: whenever users enter a contest there is a pot. For example, there are 5 people who compete against each other with a stake of 20 HERO, making a total pot of 100 coins. The HERO smart contract automatically takes a minimum of 1% of the total pot and gives it to the community. In this case, 1 HERO,which constitutes this 1 % is spread across all HERO holders. The more HERO a user is holding, the higher share percentage from that 1% he or she receives.
Avoidance of unknown middleman during the implementation of HEROcoin allows the community itself to become “the House.” In this case, if one user loses, another user wins, so the money stays within the community. All payouts will be processed by the ethereum blockchain, which makes all the transactions publicly verifiable, viewable and resistant to counterfeit. Thus, herosphere solves the fundamental problem of betting, offering transparency and tangible incentives.
A number of notable names were added to herosphere’s advisory board and investor list, including Andreas Petersson, developer of the popular bitcoin wallet Mycelium and a lead blockchain developer; Michael Altrichter, business angel, HitBox investor, and Co-Founder of paysafecard and payolution; and Hubertus Thonhauser, former CEO of Casinos Austria International.
Paul Polterauer, CEO and Co-Founder of herocoin.io, said:
We are thrilled to announce our plans to launch HEROcoin on the blockchain as an ethereum based peer to peer coin. There are many fundamental problems in betting and gambling industry today. herosphere, a trustworthy, transparent, and initiative oriented platform, will use HERO to revolutionize the gambling world as we know it.
One of the project’s major investors, Hubertus Thonhauser, added:
I invested in herosphere because of its vision to solve a fundamental problem in the betting industry today, by cutting out middlemen and toll-takers like bookmakers, and giving more power to the customer. The company provides an online peer to peer prediction platform secured by the immutable ethereum blockchain technology.
During the upcoming ICO, participants will be able to purchase HEROcoin for Ether. The value of the coin will be decided by the market-variable exchange rate.
It is planned that eventually any gaming platform will be able to adopt HERO. In case the number of platforms implementing HERO rises, the coin will be used not just for esports, but for other prediction contests including everything from sports competitions to who will sit on the Iron Throne. This prediction contests can be created for the entire HEROcoin community and for a specific group of friends as well. HERO owners will be able to liquidate their holdings by trading them on an exchange as soon as it’s listed.
Meanwhile, August 28 will serve as a starting date for Payments startup UTRUST’s pre-ICO. In case of sufficient funds raise they are planning to implement the world’s first cryptocurrency consumer protections into its platform.
On August 30 crypto enthusiasts will see the ICO for the innovative multi-currency platform, to be created by #Transmission startup, which will bring significant changes to the conventional currencies transfer and conversion systems, offering support for trading digital currency on a global scale.
Being a successful graduate of Belarusian State Economic University (BSEU), Maria has acquired competencies in economic and social studies. Given Maria’s previous research working experience, and desire to explore what's really shaping the future, the main research focus is placed on FinTech and Blockchain Technology.