What is HEROcoin?
HEROcoin (PLAY) is a cryptocurrency that has been designed as a decentralized ERC20 token on the Ethereum blockchain for the Hero network. The Hero network is a decentralized pooling system that facilitates customized gaming environments for betting. The aim of this network is to create a transparent and trustless betting ecosystem that can expand naturally through its community. The network has introduced HEROcoin, which is represented by its ticker PLAY, to overcome the challenges of the current betting system, including unfair conditions, transparency, trust issues, loss of social character, and vulnerability to manipulation.
HEROcoin (PLAY) operates using a general reward mechanism that is hardcoded into the smart contracts. The reward system allows all coin holders to be rewarded at 1% of the total volume of games played on the network. This mechanism opens up new opportunities for existing and emerging communities to incentivize their viewers in customized private contests. This way, the contest creators get rewarded in return through the Hero network. Moreover, the coin is also used to incentivize and reward participants on the Hero network, thus fulfilling the platform's vision to create a trustless and transparent betting economy.
HEROcoin (PLAY) is a decentralized ERC20 token that facilitates interchanging and exchanging a point-based pooling system for betting on future events like esport matches. This feature allows players to use HEROcoin to fight, develop, upgrade, and join battles, earning crypto by playing or contributing to the community. This gives a new gamefi play experience to the players, enhancing their gaming experience.
HEROcoin was introduced in the third quarter of 2016 as a medium to create a decentralized betting economy for the parent company of the Hero network, Herosphere.gg. Herosphere.gg was founded in July 2016 as a rebranded version for the project “the social bet – bet friends. not bookies,” which started its journey in 2014. The overall structure of this betting ecosystem was founded by Paul Polterauer (cofounder & CEO), Philip Peinsold (cofounder & CTO), and Bernhard Blaha (cofounder & COO) of the Hero network. The initial coin offering of the PLAY token was announced on September 14, 2017.
In summary, HEROcoin (PLAY) is a cryptocurrency designed to create a transparent and trustless betting ecosystem. The platform's mission is to overcome the challenges of the current betting system by introducing a general reward mechanism and a decentralized pooling system that allows for customized gaming environments. The introduction of HEROcoin (PLAY) provides a new gaming experience for players, allowing them to use the coin to fight, develop, upgrade, and join battles while earning crypto by playing or contributing to the community. The founders of HEROcoin (PLAY) envisioned a trustless and transparent betting economy, and the network is actively working to achieve this vision.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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