Review on HEROcoin by Toprak Dere
About HEROcoin
Based on the Ethereum network, Herocoin is a decentralized blockchain token that steps towards a peer-to-peer online betting community and allows its users to bet on any area.
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HEROcoin is an ERC20 token designed to enable providers to integrate the token into their platform.
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In addition, this platform allows any participant to create their own custom contests.
Transparency of transactions is ensured as the smart contract automatically takes actions such as payments to guarantee an unsafe ecosystem.
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Personalization is also allowed on the HERO network. Users can configure a percentage of their own prizes in the contest. This is unsurprisingly called the "provider award". This award is an incentive for users to identify themselves as providers.
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Pros
- HERO eliminates stagnation in the online betting world
- HERO has built security, transparency and trust previously unknown to the online betting world.
- Any user can create a new contest in the HERO Network. The contest allows betting on the outcome of an event on the platform. The user creating the contest is called the Provider and can add some variety to the network with different contests.
Cons
- The risk of losing money is quite high as it is based on betting and guesswork
