What Is HEROcoin (PLAY)?

HEROcoin is a cryptocurrency designed as a decentralized ERC20 token on the Ethereum blockchain belonging to the Hero network. The Hero network is a decentralized pooling system that facilitates betting in a customized gaming environment. The network's mission is to create a transparent and trustless betting ecosystem that allows natural expansion by its community. The term trustless betting signifies a combination of mechanics that allows for two or more parties to interact and fulfill contracts without having to trust any opposing party. Further, the organization's mission aims to resolve the problems that exist with the current betting system. These obstacles include challenges like unfair conditions, transparency, trust issues, loss of social character, and vulnerability to manipulation. In order to resolve these problems, the Hero network introduced its own cryptocurrency, HEROcoin, represented by its ticker PLAY.

HEROcoin (PLAY) is a decentralized ERC20 token that facilitates interchanging and exchanging a point-based pooling system to bet on future events like esport matches. Further, the coin operates using a general reward mechanism hardcoded into the smart contracts. This allows PLAY to be used for rewarding all coin holders at 1% of the total volume of games played on the network. Besides this application, the general reward system opens new opportunities for existing and emerging communities to incentivize their viewers in customized private contests, thereby allowing the contest creators to get rewarded in return through the Hero network. Further, 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 that helps overcome the problems of today's betting systems.

Who Founded HEROcoin (PLAY)?

The cryptocurrency 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.

How Many HEROcoins (PLAY) Are There?

The token has a total supply of 252,000,000 PLAY coins.