HEROIC Token Questions
What is the purpose of the HEROIC token?
The HEROIC token powers the HEROIC.com ecosystem and is used as a form of authorization, incentivization, and settlement between participants. The HEROIC token can also be used for HEROIC.com Services, Third-Party related services and to compensate ecosystem participants for anonymously and seamlessly sharing their threat intelligence data.
Can anybody participate or are there regulations?
During the presale, those living outside the U.S. but not in a restricted country can contribute along with U.S. accredited investors. During the public sale, anybody that passes the whitelisting process will be able to participate. All participants must pass KYC/AML verification.
Can tokens be earned?
Shortly after our public sale closes, we will launch Guardian, HEROIC.com’s cybersecurity platform powered by the HEROIC token. Guardian will be universally available for all types of users. As you are protected from threats, Guardian’s built-in functionality seamlessly and anonymously sends threat data to HEROIC.com’s ecosystem to be vetted as a legitimate threat. Participation in the network and anonymous threat data provided to the network is compensated with HEROIC tokens.
What can I use my tokens for?
Because our tokens can be earned as well as purchased, there are multiple sustainable user cases. Individuals can use their tokens to purchase upgrades and additional cybersecurity features in HEROIC.com Guardian. Organizations and Developers can use their tokens to purchase access to threat data and well as Dapps. Please see our whitepaper for full use cases.
Is the HEROIC token a security or a utility?
The HEROIC token is a utility token based on the Ethereum blockchain. It is not a security token. Token holders will not receive any profit sharing, dividends or equity in HEROIC.com.
How can participants prove their accreditation?
We have an accreditation process that will be provided to approved parties.
General Token Questions
What is Cryptocurrency?
Cryptocurrency, also known as tokens, coins, and crypto, is digital currency secured by cryptographic technology.
Examples of cryptocurrencies include Bitcoin, Ethereum, Ripple and the HEROIC Token.
What is a Token Sale or an ICO?
A Token Sale, Initial Coin Offering (ICO), or Token Generation Event (TGE), is a newer method for raising funds, under which a cryptocurrency is created and sold to contributors. Depending on the token sale, one can contribute with bitcoin, ethereum, traditional currency and other cryptocurrencies. In return, a person receives tokens for the new project which represents value.
Tokens generated during a token sale are usually managed via a smart-contract, secured by cryptography, and have a capped amount to protect against inflation.
Traditionally, the main function of a token is to provide access to a projects network, software or services but tokens can also be exchanged for Bitcoin, traditional currency, and other cryptocurrencies.
What gives a cryptocurrency its value?
The value of a cryptocurrency is related to the type of token it is, its structure, and its demand. There are two main types of cryptocurrencies, a utility token, and a security token.
Utility token functions may include data storage, identity management, recording of transactions, threat protection and thousands more. Security tokens usually represent ownership of an asset, such as debt or company stock.
The value of a utility token can be compared to the value of a ticket to a future sporting event. The ticket may increase in value if one or both of the teams have a star player, wins a significant number of games and becomes a contender for the championship. On the other hand, that same ticket may decrease in value if a star player suffers an injury or a team goes on a prolonged losing streak. Tokens may fluctuate in value based on demand and public perception.
What is blockchain?
A blockchain is a distributed ledger of transactions, secured using cryptography, with the transactions linked together in a continuously growing list of records, called blocks.
Blockchain is the foundational technology that powers cryptocurrencies.
What are the main benefits of using blockchain technology?
Blockchain offers numerous benefits over traditional databases and technology solutions. The following are what we consider top benefits and the reasons to use blockchain:
All transactions on a blockchain are cryptographically secured and provide verifiable integrity. Once data is recorded to a blockchain and confirmed by its peers, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Privacy, Transparency and Trust
Blockchain transactions are openly auditable and pseudo-anonymous which means everyone can see the basic details of the transactions but not the individuals behind the transactions. This allows the system to be verifiable, transparent and private which establishes trust in the data.
As blockchains consist of thousands of nodes in a peer-to-peer network, and the data is replicated and updated on each and every node, the system becomes highly available. Even if a nodes leave the network or become inaccessible, the network as a whole continues to work, thus making it highly available.
There is no need for a trusted third party or intermediary to validate transactions; instead a consensus mechanism is used to agree on the validity of transactions.
As no third parties or clearing houses are required in the blockchain model, this can massively eliminate overhead costs in the form of fees that are paid to said clearing houses or trusted third parties.
Once the data has been written into the blockchain, it is extremely difficult to change it back. It is not truly immutable but, due to the fact that changing data is extremely difficult and almost impossible, this is seen as a benefit to maintaining an immutable ledger of transactions.
What is a Smart-Contract?
A smart-contract is computer code intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.
General HEROIC Questions
Do you plan on stopping hackers from using the ecosystem?
Malicious actors will always find a way to cause harm to others. And although we’re building an ecosystem to power protection and safety for all, those that seek to do bad will also have access to our ecosystem through its open source nature. Luckily, we’ve put in some safety precautions to help minimize malicious actors: 1) all ecosystem users must transact with the network using HEROIC tokens to access any data 2) we are partnering with some of the most intelligent minds to build advanced AI solutions 3) we have an army of intelligent developers building new security algorithms and products to combat emerging threats.
Is there a KYC (Know Your Customer) process?
Yes, there is currently a KYC process that you go through before being able to contribute to the token sale.
How much does it cost to use Guardian?
HEROIC Guardian is a freemium service. Users will have the ability to upgrade their accounts for additional security services at a minimal cost.
As a single user, how exactly would HEROIC.com help me?
End users will benefit from the HEROIC.com ecosystem through the HEROIC Guardian cybersecurity platform. Utilizing artificial intelligence and threat data from Arc Reactor to predict and prevent cyber attacks, Guardian’s easy-to-use online interface helps individuals manage all pieces of the cybersecurity puzzle including antivirus software, data breach monitoring, identity theft protection, online backups and much more. As more participants join the ecosystem, individual security for all strengthens.