Eristica is a revolutionary P2P-platform that drives participation in challenges and online competitions. The project was launched in 2015 and has already got more than 1.2 million users. The platform enables each participant to launch and accept challenges, provide video footage of challenges completed and get ratings based on the results. Eristica users are also allowed to generate viral content with the videos of challenges getting millions of views on YouTube, and the winners becoming stars. The system of rating, reputation and ranking creates a powerful incentive for active participation. Competitive incentive makes players fight for top places in the rating, in the quest for fame and prizes. With the help of blockchain technology, the Eristica project intends to overcome the obstacles faced by the industry and create a single ecosystem for both offline and online competitions.
Financial indicators and fees in the industry of Bets and Challenges are not uniform and sometimes the disparity can be exorbitant. Bets are usually subject to bookmaker or intermediator firms meaning that the fees can rise up to 20%. For example, platforms with challenges among young people charge a 10% fee while online and eSports competitions charge 5-10%. That said, Eristica sets a single bet for all types of bets, challenges, and competitions, that is 3%. This is bound to become a standard in the industry and create a flow of customers from more expensive platforms.
– to create a full-fledged crypto-economy in the digital entertainment space where tokens are the main tool for all interactions within the digital ecosystem. Eristica intends to use crypto to make thedemocratization of challenges economy, including creation, participation and rewards for challenges more efficient, fair and affordable.
The wallet is a basic and an on-demand service for the use of cryptocurrency, which will be implemented in every account on the platform. The wallet features will allow users to transfer, withdraw and receive tokens. The intuitive interface shows the transaction history made through Challenges. Cryptocurrency has been known to be quite complex and one of the Eristica goals is to simplify the experience for the mass user.
Using the experience of the industry, the Eristica project will create its own Challenge foundation aimed at the promotion, adaptation, and growth of the platform ecosystem. The rewarding mechanism promoted by the foundation will become a natural incentive for digital service providers to join the Eristica ecosystem. The network effect of Eristica will grow with each new partner joining the system. Thus, the value of the ecosystem for users and network partners will increase. This is why Eristica is using the experience of the industry and creating its own Challenge foundation aimed at the promotion, adaptation, and growth of the platform ecosystem. In addition to providing general ethics, the legitimacy of content and transactions, the ecosystem won’t impose unnecessary restrictions, which should create an attractive image of the platform.