It is clear that eSports is an industry that is ready to incorporate cryptocurrencies. eSports tournaments have become multi-million dollar endeavors, with sponsors, spectators and even celebrities throwing their weight behind their favorite teams. As a result, transnational viewership and sales have skyrocketed, making the industry hungry for P2P currencies to enable swift participation from around the globe. This is precisely the opportunity that eBoost Society is taking advantage of in order to release the first ever eSports cryptocurrency.

Our editorial team spoke with Marshall Long, one of the co-founders of the eSports token. The following answers to our email interview, will provide a little more insight into the motivation and some of the technical decisions behind this upcoming ICO:

Q&A With Marshall Long of the eBoost Society

Bitcoin Chaser Staff: Why did eBoost creators decide to launch a non-mineable coin?

Marshall Long: Fifteen of the top 25 coins on CoinMarketCap are non-mineable, including Ripple, Lisk, Factom and Counterparty. The underlying technology behind the eBoost blockchain is one of only two coins in existence that has both proof of work plus an automated checkpoint server validating every block from a separate miner and making sure it’s from the original chain, ensuring that a 51 percent attack cannot be made. Even bitcoin does not have this protection.

Bitcoin Chaser Staff: Are eBoost tokens secured through a private blockchain?

Marshall Long: eBoost’s blockchain will be viewable using any wallet or block explorer. Technically it’s a public blockchain using eBoost’s checkpoint server.

Bitcoin Chaser Staff: What are the advantages of eBoost tokens as opposed to any other altcoin?

Marshall Long: The advantages include the security of avoiding a 51 percent attack, as well as layers of added security that guard against throwing hashing power against a blockchain (which can break many mineable coins in their infancy). eBoost has a rapidly scaling difficulty algorithm that makes all hashing power attacks ineffective. Given that the purpose of eBoost is to be a reliable means of exchange between skill-based players in eSports tournaments and sites, security and stability was vital. Creating a new coin also enables the International eBoost Society to fund its continued development and integration with a variety of eSports partners.

Bitcoin Chaser Staff: Will your blockchain allow for the creation smart contracts or any other future developments that have to do with eSports?

Marshall Long: At this time, there isn’t a plan to incorporate smart contracts. All gaming happens on partner gaming sites, such as mockit.gg.

Bitcoin Chaser Staff: How much money do you expect to raise during your ICO?

Marshall Long: There is a maximum of 20 million tokens in the crowd sale, which would raise approximately $3 mm [USD], depending on the price of bitcoin at the end of the seven-week crowd sale and how many of the tokens are purchased during the early parts of the crowd sale that have significant bonus coins, including the first-day bonus of 60 percent and first-week bonus of 33 percent. The minimum amount required to have a successful crowd sale is 150 BTC, which will be sufficient to launch the coin and begin business development and promotion, given the token, wallets and blockchain have already been built and the first site partner, mockit.gg, has already committed to using the token.

Additional Information About the eBoost Token and the ICO

The eBoost token is a piece of software that will be used as an in-game cryptocurrency to facilitate wagering in player-to-player matches.

The eBoost society is responsible for the creation, maintenance and promotion of the eBoost software token.

eBoost will initially be used by the popular eSports site, Mockit (mockit.gg), which has received more than five million replays on Amazon.com’s Twitch.tv.

The ICO kicked off on September 15th.

The funding rounds will go on for 42 days on a daily diminishing scale of returns, incentivizing early investment.

Bittrex will be hosting a total of 20 million tokens.

On the first day of the funding round, investors will be able to buy 4,800 eBoost tokens – EBST – for 1 BTC.

On the second day investors will be able to acquire 4,000 EBST for 1 BTC.

The amount will be scaled down by a factor of 25 EBST per day until it reaches a rate of 3,000 EBST per 1 BTC.

Any EBST tokens left from the funding rounds that have not been sold, will be verifiably destroyed by sending them to a public address for which there is no private key.

The initial amount of EBST tokens in the market will then consist of all the coins sold during the ICO plus 2 million coins that the eBoost foundation holds for investment purposes.

If you are into eSports, you should really check this ICO out. Click here to read more about how to invest in eBoost.