Esports betting site launches cybercurrency

The Austrian eSports betting company Herosphere has announced that it is to launch its proprietary Ethereum-based cybercurrency HeroCoin on September 14 with an initial coin offering (ICO).

CEO and co-founder of herocoin.io, Paul Polterauer, said in a company statement that the product is designed specifically for the eSports betting market and is decentralised, which means that it “…puts the power, profits, and winnings back in the hands of players, not some middleman.”

Emulating Bitcoin (currently trading at over $4,500) and Ethereum, HeroCoin uses blockchain technology to process bets. Blockchains use encryption codes to link together into a cyber chain, allowing for a transparent record of transactions.

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