Herosphere launches smart token for decentralized esports prediction

First we had a decentralized online poker room. Now comes another company that promises to move esports and prediction platforms to the blockchain, too.

Herosphere develops online esports prediction platform, which allows for two or more parties to interact with each other and fulfill contracts without a third party. Essentially, the platform lets gamers and fans predict the outcomes of their favorite online games against each other, without having to worry about a third party controlling the cash flows.

“There are many fundamental problems in betting and gambling industry today,” said Paul Polterauer, co-founder and CEO of herocoin.io.

To cut out middlemen—greedy or not—herosphere turns to a decentralized coin that puts control of the money flow in the hands of the community. Participants will compete only against themselves; and the platform generates smart contracts using a dedicated cryptocurrency called HEROcoin to enable secure and reliable processing. Herosphere said the payouts are based on the crowd size participating in a certain prediction contests as well as initial pledges.